Growth in property market expected in sectional title offices

Posted On Monday, 21 October 2013 18:43 Published by
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Growth in the property market will come from smaller offices and sectional title offices

Org Geldenhuys

The growth in the property market is going to come from smaller offices and sectional title offices, with purchase figures of around R2 million, said Org Geldenhuys, managing director of property management and development company, Abacus DIVISIONS.

"Signs in the marketplace are that there is a flicker of an uptick in the commercial property sector, with this charge being lead by owner occupiers looking at small office space deals.

"The deals are priced between R1.5 million to R2 million price ranges, with offices ranging from 120 s/m to 200 s/m. Abacus DIVISIONS has first-hand knowledge of this after selling all the stands for a recently launched boutique office Park in Irene, called Quattro Fontane."

Geldenhuys added that his company is seeing a lot more enquires for smaller office space and sectional titles. "We are seeing a far bigger demand for this than a few months ago. It is, without a doubt, a positive sign – and, in our opinion, a sure sign of things to come in the office market.''

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