JHI Real Estate's broking team last year concluded leasing and
investment sales deals with a capitalisation value of
R676-million, covering 445 165sq m of space.
According to Lin Strauss-Minenza, JHI's national leasing and sales
manager, markets were strong during 2002, irrespective of interest
rate hikes.
Many believed the rate hikes would hamper the property market.
'The Industrial property market performed exceptionally well and - as
is the norm - the office market is approximately eight months behind.'
She added that there had been pressure to keep the rentals and
escalation rates down.
This, in turn, served to provide the tenant with a strong bargaining
position.
'However, with the industrial market strengthening, together with
fairly positive market sentiment at the moment, we will in all
likelihood see rentals firming in 2003,' she predicted.
She believes the 'quietly optimistic' sentiment, prevalent in all
sectors of the property market, should continue throughout 2003.
Publisher: The Star
Source: The Star
JHI Real Estate's broking team last year concluded leasing and investment sales deals with a capitalisation value of R676-million, covering 445 165sq m of space.
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