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Follow on Google News | South Africa Real Estate Report Q4 2010: New research report available at Fast Market ResearchFast Market Research recommends "South Africa Real Estate Report Q4 2010" from Business Monitor International, now available
Although rental rates fell in each of the three main sub-sectors last year, and in each of the three cities (Johannesburg, Cape Town and Durban) for which we gathered data, the slippage was less than in many developing countries whose real estate sectors are surveyed by BMI. We therefore conclude that, with the possible exceptions of the office and retail sub-sectors in Durban - where vacancy rates have been 20- 25% - the demand and supply of real estate to rent is broadly balanced. Market protagonists have taken a realistic view of the long-term challenges in South Africa's business environment. At the margin, new projects in Johannesburg may lift rental rates. However, there is no evidence the entire dynamics of commercial real estate in the city will be changed by the availability of prestigious new retail/office complexes. Our sources in Cape Town and Durban gave little indication that new developments will have an impact in those cities. It does not seem the World Cup has had a substantial medium- to long-term impact on the commercial real estate sector. It has undoubtedly provided the impetus for substantial investment in new sporting and transportation infrastructure which, in turn, will contribute positively to the overall business environment in South Africa. There has been a rise in top-end retail rents in Johannesburg (and in the more expensive segment of the industrial sub-sector in that city). Overall, though, the World Cup has not had little impact on the supply/demand balance. After an adjustment through 2009, it appears yields have settled at levels that provide investors with a suitable risk-adjusted return. We therefore expect yields to broadly track sideways over the next four years. There may be movement in rental rates, but these will generally be matched by moves in capital values. Key Features Of This Report This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. Once again, the questions we seek to answer for each country remain: What are the main issues that will matter to actors in and around real estate development in the country concerned, both over the long and the short term? What are the main constraints they face? What are the key insights one garners from comparing the real estate sector of the country with that of other countries? In Q3, we introduced a substantial new improvement to the reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors - office, retail and industrial. We also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology sector of this report. In Q4, we have incorporated a lot of new data around rents and yields in 2010. We gained this data from a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios. For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary SWOT Analysis - South Africa Real Estate SWOT - South Africa Economic SWOT - South Africa Business Environment SWOT Regional Real Estate Overview - Table: Middle East And Africa's Office Markets At A Glance - Rents, 2009-2011 (US$ per square metre per month) - Table: Middle East And Africa's Retail Markets At A Glance - Rents, 2009-2011 (US$ per square metre per month) - Table: Middle East And Africa's Industrial Markets At A Glance - Rents, 2009-2011 (US$ per square metre per month) Real Estate Market Overview - Table: South Africa's Real Estate Market - Rentals, 2008 And 2009 (msq/month ZAR) - Table: South Africa's Real Estate Market - Net Yield (%) - Table: South Africa's Real Estate Market - Terms of Contract/Lease - Table: South Africa Real Estate Markets - Available And Vacant Space (msq) Forecast Scenarios - Real Estate Outlook - Table: South Africa Real Estate Markets - Rentals in msq/month (ZAR) - Table: South Africa's Real Estate Market - Net Yield 2008-2014 (%) - Construction And Infrastructure Outlook - Table: Economic & Construction data - Macroeconomic Outlook - Table: South Africa - Economic Activity, 2007-2014 Business Environment - Real Estate/Construction Business Environment Ratings - Table: Middle East And Africa Real Estate/Construction Business Environment Ratings - South Africa's RECBER - Africa Project Finance Ratings - Table: Design And Construction Rating - Table: Commissioning And Operating Rating - Table: Overall Project Finance Rating - South Africa's Business Environment - Table: BMI Business And Operation Risk Ratings - Table: BMI Legal Framework Rating - Table: Middle East & Africa, Annual FDI Inflows - Table: Trade And Investment Ratings - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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