1、Africa Offices Market D 2023Knight Franks ultimate guide to real estate market performance and opportunities in the worlds most exciting continent.P2THE AFRICA OFFICES MARKET DASHBOARD|H2 2023Among the 29 cities monitored by Knight Frank,a significant portion recorded a slowdown in rental growth.The

2、 second half of 2023 has proven challenging for most African economies,with the office real estate market experiencing a sustained period of subdued performance.Among the 29 cities monitored by Knight Frank in this dashboard,a significant portion recorded a slowdown in rental growth,primarily attrib

3、uted to oversupply issues and currency devaluation against the US Dollars.For example,in Kampala,the oversupply situation has resulted in monthly prime rents remaining static at US$16 psm for Grade A offices and US$14 psm for Grade B offices for three consecutive quarters.Over the review period,occu

4、pier activity has been driven by office relocations aimed at consolidating space and strategic acquisitions to capitalize on the softer market conditions.The demand for smaller,fitted-out office spaces,ranging from 50 to 300 sqm,has continued to increase due to the growing prevalence of flexible wor

5、king patterns.Landlords are proactively exploring strategies to enhance the occupancy of their properties,such as offering more flexible lease terms and rental discounts.In spite of the shockwaves caused by the collapse of WeWork across the shared office space sector globally,we continue to see grow

6、th in this sub-sector of the property market right across the continent.Market OverviewThis model works particularly well in Africa,where tenants seek flexibility and cost savings in markets with an uncertain future and where the hybrid working model has taken off following the global pandemic.This