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Key Contacts

Africa Valuations

Major cities | South Africa

South Africa is the most mature economy in Sub-Saharan Africa and a member of the BRICS group of emerging global economic powers.

Market highlights

  • It is Africa’s most developed property market, with activity spread across cities such as Johannesburg, Cape Town and Durban.
  • South Africa has a large property investment market, with commercial transaction volumes totalling c.US$2.6 billion in 2016.
  • The retail property market is very well developed, with c. 23 million sq m of shopping centre space across the country.
  • The massive Mall of Africa (131,000 sq m) was opened in 2016, and is the largest single-phase mall ever built in Sub-Saharan Africa.
  • South Africa was ranked as Africa’s top destination for foreign direct investment by Ernst & Young’s Africa Attractiveness Survey 2016.

 

Property market data (Johannesburg)

 

Prime rents

Prime yields

Office

US$ 17/ sq m/ month

8.5%

Retail

US$ 60/ sq m/ month

8%

Industrial

US$ 5/ sq m/ month

9%

Residential
(4 bed exclusive house)

US$ 4,500/ month

5.5%

 

Market statistics & forecasts

South Africa population - 53 million

South Africa population forecast, 2025 - 72 million

Johannesburg/ Cape Town population - 9.4 million/ 3.7 million

Johannesburg/ Cape Town population forecast, 2025 - 11.0 million/ 4.1 million

South Africa GDP growth, 2016 - 7.2%

South Africa GDP growth forecast, 2017 - 7.2%

South Africa GDP (PPP) per capita, 2016 - US$ 3,097

South Africa urbanisation rate - 32%