Q2 2022 Johannesburg Real Estate Overview
Johannesburg's office market is slowly starting to catch up to the recoveries reported in the retail, industrial, and hospitality sectors.
- Mieke Purnell
Johannesburg's office market has the highest vacancy rate overall, ending at 19.6% in Q2 2022. Rental growth did improve over the period notwithstanding, and stock levels declined. Market preference for a select subset of property types is emerging, with growing demand.
The city's retail and hospitality sectors also picked up through the first half of the year, bolstered by the removal of COVID-19 restrictions, among other factors. A lack of suitable inventory has been a primary supporter of the city's industrial market. However, there is a disparity in the performance of prime or A-grade and secondary sectors.
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