Vacancy Report 2020 Q4 - We have reached a tipping point!

TPN predicts negative rental escalation as a climb in vacancies forces landlords to negotiate decreased rentals. 

The numbers are exploding and not all in the right direction!

Income, or rather the lack thereof, has been a major contributor to tenants’ early cancellation of lease agreements, the drying up of demand in 2020, and pushing up of vacancies.

Overall, landlords are left with a 12.91% vacancy rate to compete against. The encouraging news is that vacancy rates have started to recover in three of the four main provinces: Western Cape, Eastern Cape and KwaZulu-Natal but Gauteng continues to deteriorate with 14.66% vacancies in Q4 of 2020, pulling the national average up.

Please click here to see the TPN Vacancy Report 2020 Q4 

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