Sales per square metre in shopping centres - from large super regional malls to neighbourhood 'locals' - continued to grow in March, according to the Clur Report of SA Retail Property, an industry barometer tracking performance at more than two million square metres of retail space in South Africa and Namibia.
While the number of international buyers in residential property in South Africa remains relatively low, at somewhere in the region of three percent nationally, investors from elsewhere on the continent – including returning expats - retain their appetite for the acquisition of South African real estate for a variety of reasons.
The uptick in shopping centre sales out of negative territory is continuing, according to the Clur Report of SA Retail Property Performance for January, an industry barometer.
There have been signs of significantly improved economy-wide sentiment early in 2018, an improvement that many link to the change in the ruling party’s leadership, which translated into a change in the country’s President too.
After months of decline, trading densities across 2.2 million m² of physical retail space in seven provinces of South Africa and in Namibia are trending towards growth, according to an industry barometer.
Over 30,000 excited shoppers welcomed the new 27,500m2 Dunes Mall in Walvis Bay, Namibia, on its opening day of 26 October 2017.
Maerua Mall is currently undergoing a redevelopment to live up to its new motto, “Be part of the family”.
A desert oasis of shopping and entertainment for the people of Walvis Bay, the new 27,500m2 Dunes Mall is in the final stages of completion, with its doors set to open to shoppers on October 26.
Recently, there have been hints emanating from our FNB Estate Agent Survey that foreigner demand for local residential properties may be declining.