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Improvement in the property market...

Category Statistical

The SAPOA/IPD South African Biannual Property Indicator reveals a moderate improvement in the property market for the 6 month period to June 2012, but we are certainly nowhere near a full-blown recovery across the sector.  Property investment overall delivered a total return of 5.9%, comprising 1.5% capital growth and 4.4% income return. 

The good news for this month is that the Ballito office vacancy rates have steadily improved over the first three quarters of 2012.

                               

Offices                                 Total Area           Q1 Vacancy         Q2 Vacancy         Q3 Vacancy

A Grade                                11745                        26%                          19%                        18%    

B Grade                               12102                        32%                           38%                        22%

C Grade                                  2650                       19%                           15%                        19%

 

Vacancy rates for mini factory and industrial space at the end of Q3

Size                                        Total Area           Vacant                  %

100 – 199 m2                       21797                    2105                       10%                                                       

200 – 499 m2                       21298                    6512                       31%                                       

500 – 999 m2                      15572                    1688                       11%                       

≥ 1000 m2                            16130                    3050                       19%

 

The recent Tenant Property Network (TPN) commercial rental monitor also indicates an improvement in rental payment patterns for the second quarter of 2012.  61% of tenants paid their rent on time, 22% paid late, 10% made a partial payment and 7% did not pay their commercial property rentals.  The 83% of tenants who are in good standing reflect the highest percentage recorded over the past 2 years, and the 7% who did not pay reflect the lowest statistics on record to date which is a 16% improvement since the 4th quarter of 2010.

Author: Louise Gibson

Submitted 05 Aug 15 / Views 4807