Debbie Echstein, of Colliers International, says the redevelopment trend in Sandton continues, with sites previously zoned for offices being developed as high-rise residential apartments. Most of these redeveloped buildings have been leased for the long term.

Echstein expects the demand to continue. She says that the primary take-up of space in Sandton is outperforming the average take-up of space in other decentralised nodes in Johannesburg.

She says architects and ownerusers are targeting Rosebank and Parktown, while listed funds are eyeing Hyde Park and Illovo.

Joan Goldswain, of Colliers International, says Rosebank is well positioned to capture demand from the "second wave" of businesses returning to the urban centre.

She says Bryanston is booming and is rated as the most attractive of Johannesburg's northern suburbs.

The outlook for the Cape Town CBD continues to be positive, says Neil Wieffering, of Colliers International.

The successful city improvement district managed by the Cape Town Partnership must receive the credit for the renewed optimism experienced in the city centre, he says.

The Cape Town Partnership hopes to achieve an investment target of R5-billion this year.

Vacancies have started to decrease, he says.

Infrastructure in the Cape Town city precinct has been upgraded and the completion of the canal linking the V&A Waterfront with the Cape Town Convention Centre will contribute to the services offered.

Wieffering says there is a significant amount of interest from companies enquiring about possible call-centre locations. The Foreshore remains the precinct for Grade A office space, and foreign investors, mainly from Germany and Ireland, are showing increasing confidence in the CBD.

In KwaZulu-Natal, institutional investors have shown strong interest in investing in the Umhlanga Ridge and La Lucia Ridge areas, says Judith Guthrie, Colliers International's director of broking KZN.

Demand for sectional title ownership by smaller companies and individual investors is strong, she says.

Business Day