The MSCI South Africa Annual Property Index for the twelve months to December 2024 reported an ungeared total return of 11.5% for direct real estate, supported by an 8.4% income return and 2.9% capital growth outperforming inflation of 5.1%.

Once again, the industrial property sector was the best performing, delivering a 15.2% total return, driven by strong rental growth, stable vacancies, and rising demand for logistics space.

For more detailed information on SAPOA’s latest Industrial Property Trends Report, download a free copy of the latest report here (free to SAPOA members only).

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