If you’re looking to rent commercial property in South Africa, then it is important that you know exactly where to look in order to get the best deal and the right location. There are a number of hotspots in South Africa, and with Johannesburg ranking in the top 20 back in 2013 as a property investment hotspot, you can be sure that you will find plenty of commercial property available for rent there. Depending on what you’re looking for, whether you’re searching for an office, or a commercial retail space for rent, there are a number of different places that you can head to when you’re searching for the right commercial property for you and your business.
In South Africa, buying costs of a property are quite high, and the procedures can be somewhat complex. Because of this, it is far more likely for commercial property to be rented in South Africa, meaning there are a number of commercial property hotspots throughout Johannesburg. However, the rental market is a tale of two cities amongst Johannesburg with a large divide across the north and the south of the city. The types of commercial property rentals in each of the areas will be largely impacted by the types of people that are located in each part of the city.
For example, in the north of Johannesburg, you will find that there is a higher-end market that is most in demand in terms of residential properties, and because of this, it is likely that the types of commercial property available to rent will reflect this. Knowing the types of area that you are looking to set up your business is important, and in Johannesburg especially you will have to plan to suit your commercial property to the people that are likely to visit it.
A lot of developments in Western Cape are set to be completed very soon (Q4 2016), including Werksman, Grove Exchange, Citadel and a few more which will provide a number of new rental opportunities for businesses. While there has been a little bit of a downward trajectory throughout the year amongst the general economy, this could provide an opportunity for new businesses to turn to these new developments turning Western Cape into a potential commercial property for rent hotspot in the very near future. Many areas in Western Cape, and in particular Cape Town, are service by the Gautrain and other means of public transport which is one of the key factors to consider when searching for a commercial property for rent.
The office market in and around Durban has by and large remained stable, and because of this there has been an active redevelopment of CBD buildings to retail/residential, and because of this developers have been actively seeking and purchasing buildings for this purpose in the Durban CBD. Because of this, Durban seems to be a growing hub for commercial property and because of this is likely to become a hotspot in the very near future, as the area begins to grow. Where Durban’s public transport is efficient, and this is something that is becoming a continuing demand, we are looking forward to seeing a rise in both office developments and commercial retail spaces.
If you’re looking for commercial property to rent in South Africa, then turn to Commercial People. We have a number of properties available from some of the best agents in the country amongst our comprehensive commercial property listings.