Conscientious Property Valuations solutions at lowest prices
The IMF has suspended US$53 million of support funds and inflation is currently running at about 50% with interest rates to match. The economy is unlikely to see any recovery before next year. In Harare and Bulawayo, to protect their rental incomes from being eroded by rising costs, most landlords are now requesting net leases with higher annual escalations than previously. The increase in the land valuation industry is making a new revolution in people to make the changes in the property which their clients have to do.

In spite of the harsh economic climate, over 100,000 sq m of office accommodation is under construction in Harare, which will be released over the next two years. Despite the oversupply, there is a limited supply of grade A space available or in the pipeline. GDP in Botswana grew by more than 8% in 1998 and is forecast to slow to 6% in 1999, while GDP growth rates in Tanzania and Uganda are forecast to be 4% and 5.5% respectively in 1999, increasing to 4.5% and 6% respectively in 2000.

The investment market in America has seen a higher level of activity as market conditions have improved. These, as well as issues such as transport, have come to play an increasingly significant role in relocation decisions.

1997 is expected to see a rise in the supply of office accommodation in China, Singapore, Thailand and Malaysia, whilst in Indonesia and the Philippines, supply is expected to remain tight until late 1998 and early 1999 as developments originally scheduled to come on stream this year have been deferred. Rental and capital values have stabilised in Mumbai, Dehli, and Hong Kong. In Australia, demand remains strong for prime, city centre accommodation.

From an occupational perspective, the markets of Africa are by far the cheapest in the world and likely to remain so. In South Africa, rental values have risen in prime areas in response to strong tenant demand and falling supply. Downtown markets however, have seen a decline in rents, although this has been less notable in CapeTown than in Durban or Johannesburg.