South African Investment Review 2023/24

Explore the landscape of South Africa's commercial real estate investment market

March 12, 2024
  • Pepler Sandri
  • Mieke Purnell

Dive into a comprehensive analysis of direct property investment activity across the intricacies of geographic and sectoral shifts within Gauteng, Western Cape, and KwaZulu-Natal. In 2023, despite economic headwinds and an overall challenging investment environment, South Africa witnessed a slight upturn in commercial property investment deal flow, with over R17.2bn worth of qualifying investments recorded. Our report delves deep into this resilient performance, spotlighting unexpected growth in some office sub-markets, continued dominance of the industrial sector as the coveted 'darling' of CRE, and a transformative year for the retail sector.

The report also contemplates the investment outlook for 2024, forecasting a slight uptick in investment deal activity against the backdrop of stabilising interest rates and a more normalised operating environment. Moreover, several landmark deals are already underway, and the Western Cape is expected to finally eclipse Gauteng in terms of aggregate investment. Despite these encouraging projections, deal flow in 2024 is forecast to include several distressed sales, including portfolio deals.

Get firsthand insights on evolving market dynamics, investor confidence, and strategic capital deployment as we navigate through distressed sales and asset value correction in a high-cost capital environment. Download the full report now for an authoritative perspective on South Africa's CRE investment trajectory.

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