Commercial Rental Monitor 2022 | Q1

Nationally, the average rental escalations for commercial property remained positive. 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%.

Click HERE to download the TPN Commercial Rental Monitor 2022 | Q1


TPN Vacancy Survey Report Q1 2024

Residential rental vacancies in South Africa have reached historic lows, with the national vacancy rate decreasing to 4.42% in the first quarter of 2024, the lowest level since 2016. This trend is driven by high interest rates making homeownership un…

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