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Fourfold impact of Covid-19 on SA commercial property industry

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The effect of the Covid-19 pandemic on the commercial property industry in South Africa is fourfold. (Getty Images)
The effect of the Covid-19 pandemic on the commercial property industry in South Africa is fourfold. (Getty Images)

July brought many commercial property owners in SA to a crossroads as businesses adapted to flexible working and became accustomed to needing fewer resources, according to Norman Raad, CEO of Broll Auctions and Sales.

This includes needing less office space to operate - meaning the demand for commercial offices will continue to decline or at best, remain flat for the next couple of years, says Raad. 

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