They say the Covid-19 economic fallout will run through the commercial property market creating 'unprecedented uncertainty.'
They say the Covid-19 economic fallout will run through the commercial property market creating ‘unprecedented uncertainty.’
Responding to questions during an investor conference call, Growthpoint’s group CEO said that SA’s economic contraction is being exacerbated by Covid-19, which will have an impact on commercial property values.“Clearly valuations are coming under even more pressure … [Commercial property] values are likely to drop by between 10% to 20% over the next 12 to 24 months. Driving valuations down is the lower income [from rentals],” he said.
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