Real Estate Investor Magazine South Africa February 2014 | Page 45

REIM Offshore

Picture Courtesy of Grant Thornton

Africa Primed For
Growth

Hong Kong Prices
Falling

As the world’s most rapidly urbanising
continent, the sub-Saharan African
commercial real estate market is
primed for a “once- in-a-lifetime”
p o sit iv e g row t h opp or t u n it y,
supported by expanding middle
classes, new infrastructure investment
and deepening corporate footprints.
International capital is beginning to
focus on Africa’s real estate potential.

Sa les and prices of residentia l
property in Hong Kong are expected
to fall in 2014 due to continued
cooling measures while in mainland
China radical long-term measures
may be needed to cool the market.
Sales in Hong Kong are likely to
fall to 45 000 to 50 000 next year
compared with around 53 000 this
year and over 80 000 in 2012.

Valuable Input
Adrian Goslett,
CEO, RE/MAX
“There has been a massive shift towards
encouraging foreign investment in Africa and
the continent is on the move.”

www.reimag.co.za

REALE ESTATE BUSINESS DIRECTORY

Jeremy Kelly, Global Research Director,
Jones Lang LaSalle
“With only 2 million square metres of Grade
A commercial office space in the whole of
sub-Saharan Africa excluding South Africa,
the office stock is barely equivalent to that of
Edinburgh or Auckland.”

February 2014 SA Real Estate Investor

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