Prior to the global pandemic which has, and will have, severe economic consequences, the property industry was taking strain. The Urban Real Estate Research Unit, based at the University of Cape Town, had concluded that the vacancy costs for a landlord had increased from 6 months of lost income to 18 months by the beginning of January 2020. This, together with rising operating costs and increased rates and taxes, has meant that landlords need to find more efficient ways of filling their vacancies, together with reducing the cost in doing so. Fears are mounting that the impact of Covid-19 could potentially result in thousands of job losses with businesses closing and vacancy rates spiking sharply. However, these changes are cyclical and structural and as some businesses close, other new industries are created. It is anticipated that the Covid-19 pandemic may just have accelerated the disruptor effect and that certain technology changes and shifts in behavioural patterns may occur sooner. This may well be the case for remote learning, online shopping etc., but it will still be important for humans to socialise, party, attend shows and other recreational activities.
The coronavirus has rocked the entire world, shaking every corner of the globe with a fury that has been unmatched since the Second World War. A week is a long time in political life and even more so during this time. Markets are changing as we speak.
It is no secret that time and technology share an intimate correlation. As time changes, technology develops, with one central goal: to simplify the human experience. This correlation also appears to be a steady force in the property sector. Despite simplifying and bettering the human experience, it has been proven that developing technology has an adverse effect on the environment. In the mid 2000’s, tables were turned in the property sector, and new technology was implemented to promote the sustainability of the environment, and the quality of life. Buildings were designed and erected with the specific purpose of preserving natural resources and improving the quality of life. Below we take a look at 6 construction techniques implemented to establish a greener community on the rise:
The decision to relocate, is never an easy one! It’s a decision many avoid making, with the hopes of eluding administration, market research and property hunting. But it could also be the decision that makes a difference between a good business, and a great business!
It’s never easy venturing into the commercial property market, especially when it comes to choosing the appropriate location. The unspoken rule: diligent research is key. In attempt to save you time and energy, we have composed four fast facts on why it’s profitable to lease commercial property in Sandton!