The JSE All Property Index closed at 7 464 last night.
Nationally, gross market rentals for decentralized grade-A office space increased by 2% in nominal terms during Q3 2022 when compared to Q3 2021 - the first year-on-year increase in two years, according to Rode's latest 'The State of SA's Property Market'. However, in real terms, rentals fell by 8% after deducting building cost inflation (BER BCI) which stood at just above 10%. Grade-A nominal rentals increased by 7.6% in Cape Town, 3.8% in Johannesburg and 1% in Durban. Pretoria, however, recorded a decrease of 3.3% which implies that none of the major cities managed to record above-inflation rental growth compared to a year ago.
21 Oct 2022
Author Property Wheel