Commercial Real Estate in South Africa ? Real Estate ? U.S

Like many other countries South Africa was forced into a recession by the world financial crisis, which in turn, affected the commercial real estate market. Notwithstanding the effects of the economic disorder all over the world, South Africa?s banking sector remained secure, and the country?s infrastructure is currently benefiting from buoyant gold prices.

The country remains the financial backbone of the whole of Africa. Her close trading connections with the EEC gives her the chance to serve as a manufacturing and export focal point for both Asian and European markets. South Africa has achieved a lot in the last 10 years, with better political stability and more economic freedom. Results recently published by Research Worldwide in their annual survey show that the country?s commercial real estate performed better than sixteen other major countries with a return of more than 15%.

Commercial real estate comes in many different shapes ranging from retail outlets, office blocks, intricate industrial complexes, apartment blocks, strip malls and shopping malls ? plenty of different shapes, sizes and prices. The emerging real estate boom in South Africa coupled with the countries lowest interest rates for many years encourages investors, enabling them to feel

confident and invest in private property, farms and commercial real estate. The recent successful auction of a Durbanville industrial property for R8.8 million, one of several on offer, showed that there was still a huge interest in commercial real estate in the country from foreign investors. There is currently high demand for commercial property in good locations and a vacancy level of below 5%.

With South Africa?s economy improving, demand for commercial property can only increase. If you have invested in commercial property that is currently lying empty, you will want to see suitable tenants occupying the space as soon as possible. Being a well established property broker with well over ten years in the business, we are in the ideal position to find suitable tenants for you.

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By: Lucky Mamome
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Tags: affected, africa, banking, commercial, countries, country, crisis, currently, disorder, economic, effects, estate, financial, forced, infrastructure, market, notwithstanding, over, real, recession, remained, sector, secure, south, world

Source: http://www.cochlearprojects.com/2011/08/commercial-real-estate-in-south-africa/

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