The industrial property market which has remained in the doldrums for the past two years, has received a shot in the arm since the beginning of 2003 with renewed confidence boosting market activity.
A surge in local and international tourists has helped boost spending at Gateway Theatre of Shopping, the leisure, retail and entertainment complex at Umhlanga, from R560 per visit in December 2001 to R845 per visit in December 2002.
Larger companies with poor space configurations are losing millions annually through reduced productivity, says Michael Schirnig, head of Corporate Real Estate Services at Old Mutual Properties.
ANOTHER senior figure in the Cape property development sector says the asking prices for Cape residential land and the offers put in by some developers in this sector are beginning to be unrealistic.
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