South Africa: Growthpoint Signals Turnaround in JSE Listed Property Sector
The REIT sector is no longer in the precarious space it was in two years ago. The waters are still choppy though, especially for property companies whose operations are entirely in SA. Landlords in the commercial real estate market have been encouraged to “think innovatively” and repurpose spaces to avoid properties standing vacant for long periods of time. SA’s office vacancy rate now stands at 20.7% and 5.5% for retail.