We believe that the 0.8% economic growth rate for 2018 as a whole was likely “property negative”, sustaining negative real growth in property values and total returns in single digits.

JLL’s Q1 2018 market reports unpack topical trends impacting South Africa’s main office, industrial and retail markets in the commercial real estate sector.

Examining the FNB House Price Indices for the country’s major regions, slowing price growth in the country’s recent star performing region, the Western Cape, continued in the 1st quarter of 2017.

Until there is a significant turnaround in the performances of the manufacturing and retail sectors, strong growth in industrial market rentals cannot be expected.

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