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NATIONALLY, THE AVERAGE RENTAL ESCALATIONS FOR COMMERCIAL PROPERTY REMAINED POSITIVE

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Although there is still some way to go before escalations achieve the 5.28% it did in 2015, in Q1 of 2022, escalations bounced back to 2.3%.

Considering the significant vacant office space available in March 2022 the expectation is that rentals would have experienced aggressive de-escalation. However, these remained positive, albeit flat compared to previous years.

Gauteng was the only province to experience three consecutive quarters of de-escalation in 2021, and has recorded an average 1.61% escalation for the first quarter of 2022. The Western Cape avoided de-escalations and is currently slightly below the national average escalation at 2.02%.

The biggest surprise is KwaZulu-Natal's continued recovery with a rental escalation of 4.14%.

Enjoy our latest Commercial Rental Monitor

The TPN Credit Bureau Team

Author: TPN

Submitted 27 Jun 22 / Views 1327

Nelspruit Central, Nelspruit

Mbombela, formerly Nelspruit, is a city in northeastern South Africa. It is the capital of the Mpumalanga province. Located on the Crocodile River, Mbombela lies about 110 kilometres (68 mi) by road west of the Mozambique border, 330 kilometres... More Info