Are SA’s malls still a hot buy?
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GUEST – Norman Raad, CEO of Broll Auctions and Sales
With more than 23 million square metres of retail space in South Africa, this commercial property segment continues to be one of the most actively traded assets on the auction floor by private investors and real estate investment trusts alike.
According to data from Lightstone, retail property last year registered the highest volume of transactions - almost 30% of total commercial property transactions completed at an estimated value of R15.8 billion. Lightstone also noted that mall visits between January and October 2023 were up three percent when compared to the same period in 2022.
Broll Auctions and Sales has done several sales across all provinces over the past year relating to shopping centres, including regional malls, local convenience centres, mixed-use properties and larger malls, as these assets remain hot property for investors.
With more than 23 million square metres of retail space in South Africa, this commercial property segment continues to be one of the most actively traded assets on the auction floor by private investors and real estate investment trusts alike.
According to data from Lightstone, retail property last year registered the highest volume of transactions - almost 30% of total commercial property transactions completed at an estimated value of R15.8 billion. Lightstone also noted that mall visits between January and October 2023 were up three percent when compared to the same period in 2022.
Broll Auctions and Sales has done several sales across all provinces over the past year relating to shopping centres, including regional malls, local convenience centres, mixed-use properties and larger malls, as these assets remain hot property for investors.