Selling in search of better utilities and municipalities is no longer perceived as the key motive among commercial property owners with financial pressure-related selling emerging once again as the biggest driver during Q3 2024.
An additional potential indicator of easing or tightening financial constraints is the percentage of commercial property owners selling to relocate to ‘bigger and better’ premises and/or to move closer to their markets, says FNB Commercial Property Finance.
The greatest level of financial pressure-related selling or relocation is perceived to be in Gauteng’s metro regions, most notably in Tshwane with 64% of total sellers followed by Greater Johannesburg (23%). In the two coastal metro regions, Cape Town recorded a low 9.3% of total sellers, eThekwini (10.3%) and Nelson Mandela Bay (29.5%).
