AGAINST ALL odds, the commercial property sector has fought back and is showing positive signs of growth and recovery for 2022. The sector's rebound is clearly illustrated in Growth Point’s latest financial results, with the company reporting an 8.5% decrease in group vacancies.
While the sector continues to fight against uncontrollable odds such as inflation and interest rate hikes, the industry has weathered the worst of the storm in the short-term. Commercial property has transformed over the past few years, and there is reason to be optimistic about the future.
While high vacancies in the office sector cannot be denied, the logistics property sector is a firm frontrunner and has contributed to a large portion of the sector’s growth for 2022. Demand from the logistics property sector for warehousing and vacant land in industrial areas is leading the way.
This story is from the December 2022 edition of Personal Finance.
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This story is from the December 2022 edition of Personal Finance.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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