Demand strong for office space in Bloemfontein | 29 June 2012
The city of Bloemfontein, situated in the Free State of South Africa, is experiencing high levels of demand for office space.
According to Sacommercialpropnews.co.za, demand is outweighing supply; a thinking that was backed up by property expert Johan Botha, a portfolio executive for Broll Property Group.
He shared his thoughts on why the market is so strong at present, stating: “The city is something of an oasis, as it is centrally located in the Free State and in South Africa.
“This gives it a logistical advantage over others, causing its popularity to grow with national companies. It is the only true major centre in the province and the sixth-largest city in SA, as well as its judicial capital,” he confirmed. Furthermore, places.co.za revealed that the area offers a culture that treats both family and business life with equal importance, perhaps making it ideal for businesses to set up shop.
However the local area is yet to catch up with this demand, as Botha added that parking around Bloemfontein remains a “challenge” – although he admitted that the area’s public transport is “plentiful”.
If demand continues to rise over the next few months, rental rates for office space could well begin increasing in conjunction; making now an ideal time for commercial property investors to add office-based properties to their portfolio, Even some older residential buildings in the area are being converted into offices, Botha said, due to the overall need; showing just how fruitful the market could prove for a savvy property mogul.
Written by Deborah Bates on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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