As per the latest Global Commercial Property Monitor ( GCPM ), sentiment improved in the final quarter of last year among professionals working in the global commercial real estate sector , returning to positive territory for the first time since the onset of the pandemic ( -28 in Q1 2020 to + 01 in Q4 2021 ).
Optimistic about the opportunities in South Africa ’ s commercial property market is Franz Gmeiner , Chief Executive Officer at Orion Real Estate . “ Given the country ’ s tough economic conditions , compared to high-risk stocks and shares , commercial property remains a more reliable form of investment with capital growth over time , especially with certain sectors such as industrial and offices . The key is to stay focused on the long-term future and be versatile .”
Trends that will affect the domestic property market in 2022 .
• Partial return to the office as the pandemic tapers .
• Exponential rise in online retail trade .
• Repurposing commercial properties to meet rising warehousing and residential demand .
• Concerns about environmentally sensitive properties
OFFICE FAR FROM DEAD
As firms adopt a hybrid approach to remote working and adjusted lockdown regulations boost a return to the office , the commercial office space is far from being a relic of a bygone era . Many companies are repurposing their spaces or have added new amenities to accommodate the new workplace norms .
SA Real Estate Investor Magazine JUNE 2022 61