HERE’S WHERE THE SMART MONEY IS INVESTING IN COMMERCIAL REAL ESTATE
Two sectors significantly leading the current commercial real estate curve in South Africa are savvy redevelopments of under-utilised commercial sites and industrial property investments.
That’s according to High Street Auctions Director Greg Dart, who says the country’s commercial property landscape perfectly reflects the global market, which is still feeling the shockwaves of the Covid pandemic.
“Fund managers are already making hard decisions about their portfolios, because workplace changes are making what appear to be permanent alterations to commercial real estate investment paradigms.
“A recent Gallup poll in the US noted that even as business districts there start to recover, 37% of current office space in America is likely to be abandoned as employees switch to remote work.
“In South Africa the percentage of permanent remote workers might not equal the US, but even before the pandemic we had a fairly high number of under-utilised office buildings and vacancies have since risen.”
Two sectors significantly leading the current commercial real estate curve in South Africa are savvy redevelopments of under-utilised commercial sites and industrial property investments.
That’s according to High Street Auctions Director Greg Dart, who says the country’s commercial property landscape perfectly reflects the global market, which is still feeling the shockwaves of the Covid pandemic.
“Fund managers are already making hard decisions about their portfolios, because workplace changes are making what appear to be permanent alterations to commercial real estate investment paradigms.
“A recent Gallup poll in the US noted that even as business districts there start to recover, 37% of current office space in America is likely to be abandoned as employees switch to remote work.
“In South Africa the percentage of permanent remote workers might not equal the US, but even before the pandemic we had a fairly high number of under-utilised office buildings and vacancies have since risen.”