Research

SA Real Estate Investment
Review and Outlook: 2022-23

February 22, 2023

Contributors:

Pepler Sandri
Mieke Purnell

Direct investment into South Africa’s commercial real estate sector declined year-on-year on account of macroeconomic and geopolitical challenges faced globally and locally. Sectoral performance varied, including robust performance within the Industrial sector, a slower than expected recovery for Retail, and lagging recovery among Offices. In value terms, investment moderated by about 20% in 2022, although the number of qualifying transactions accelerated. All in all the commercial property market fared relatively well in 2022 and while a bumpy ride is forecast for 2023, attractive investment opportunities will arise.

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