Summary and analysis of South Africa's current office real estate market conditions.
Insight
South Africa Office Market Dynamics, Q1 2025
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Office demand continues to outstrip supply in Cape Town, particularly with regard to prime offices. Core precincts are all fully let, and pre-letting rates among new developments are high.
Increasing competition for stock suitable for the BPO sector is resulting in an increasingly more landlord-favourable market.
Average gross rentals at the upper end of the quality spectrum are markedly higher than in alternative cities such as Johannesburg and Durban.