The city’s CBD could be dying slowly as the commercial property rentals sector experiences a decline owing to people working from home as a result of the Covid19 pandemic.
Cape Town - The city’s CBD could be dying slowly as the commercial property rentals sector experiences a decline owing to people working from home as a result of the Covid-19 pandemic.
“But there’s a shift and many businesses will see that employees can work from home and are able to work remotely, which causes companies to downsize and to reduce cost,” he said.Seinker said the more commercial properties lay dormant, the less valuable they became. “Hair salons and restaurants have been particularly hit hard so that’s a lot of commercial office space that’s available.
CCID chief executive Tasso Evangelinos said: “The CBD property market has not decreased in value at this point. Cape Town as an investment option has a rock-solid foundation and we are a sought-after business destination.”
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