JLL's Johannesburg Office Market Outlook Q2 2014 and Industrial Market Outlook Q2 2014 Reports

Jones Lang LaSalle (JLL) South Africa research team has presented its Johannesburg  Office Market Outlook Q2 2014 and Industrial Market Outlook Q2 2014 reports.

Some of the key findings of the office report are:

  • Prime nodes with new and quality stock have a better absorption of office space compared to areas with secondary buildings, indicating that occupiers are still looking for quality stock although at reduced rentals.
  • Whilst the market is accumulating a good supply of quality stock, vacancies are increasing with prime nodes now catching up to national vacancies at over 10%.

Some of the key findings of the  industrial report are:

  • The industrial market witnessed an improved up take of space and reduced vacancies, although rental growth was disappointingly flat in key nodes.
  • The completion of speculative developments is likely to worsen the outlook for industrial units. However, some nodes with good quality stock and infrastructure will continue to attract occupiers albeit at a reduced rental.