In a recent FNB Study
It appears that Gauteng is badly underperforming in comparison to South Africa’s coastal regions. When it comes to commercial rentals and leasing activity Gauteng is battling. FNB’s research report indicates that Gauging is experiencing significant duress. According to FNB 49% of commercial property sales coming from the Gauging region.
What is the Main Reason for Selling Commercial Property?
While there are many reasons for selling the greatest reason given by landlords is financial pressure. This means that many landlords cannot ride the low economic climate because of high vacancy rates.
A Visual Showing this Data, Complements of the FNB Report
So What Does this Mean for Property Brokers?
For us at Shiny Rock it is quite simple. We need to be focusing on where the opportunity is. In a very depressed commercial property market the opportunity is in assisting financially challenged landlords to sell their commercial properties. We have traditionally been focused on the commercial leasing market. Now we are adapting swiftly to include commercial property sales as a primary strategy.
In challenging times it is vital that brokerages are able to apply rapid change and adaptation to market trends to augment varied revenue streams. Change is the name of the game if you want to survive and thrive.