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Office market to remain in doldrums even though more are back at work

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FNB property strategist says it's unlikely there will be a return to full-time office working

The office market, which is beset by historic high vacancies, will likely underperform in 2022 relative to the retail and industrial segments despite the expected return of more people to work.

Many companies will revise their office space needs down, said FNB property strategist John Loos, after the national vacancy rate rose nearly 18% on average during the first half of 2021 as the work-from-home trend gained traction...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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