Research

Johannesburg Office Market Dynamics, Q3 2024

Summary and analysis of Johannesburg's current office real estate market conditions.

November 11, 2024
Contributors:
  • Mieke Purnell

Physical office supply in Johannesburg declined in Q3, with lower inventory levels recorded among Prime, A-grade, and B-grade segments.

Various nodes starting to reflect a rebalancing of demand and supply, with older assets being repurposed and a greater development pipeline emerging.

Operating conditions are moving toward a normalised state, resulting in lease terms gradually being extended and higher contractual increases being pursued.

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