Prime property rentals sink to ten-year low

Friday, April 24, 2015

Sustained new developments in the CBD have knocked down rentals around town

The recent upsurge in development activity in Gaborone’s office accommodation has softened rentals across town with analysts saying prime rents have now fallen to a ten year low.

The prime rent, usually quoted in US dollars, is defined as an average rent of the top 3-5 percent of all lettings in each submarket.

According to the Knight Frank Africa 2015 report, the supply of office space in Gaborone currently outstrips demand due to sustained developments, which have largely focused on the new CBD.

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