September 26 2025 23:59
STATE OF CAPE TOWN CENTRAL CITY REPORT 2024 – A YEAR IN REVIEW
Total property investment into Cape Town Central City in 2024/2025: R9.031bn (conservative estimate)
NUMBER OF DEVELOPMENTS: 27
5 Completed during 2024/25: R1 020 000 000
11 Under construction R3 930 000 000
8 Planned R4 081 000 000
2 Proposed TBC
1 On hold TBC
TOTAL R9 031 000 000
Overall official value of ALL property in the Cape Town CBD according to the City of Cape Town’s 2022 property evaluation = R42.5bn
For a full breakdown of property investments, see pp 22-23 of the report.
| COMMERCIAL OFFICE VACANCIES (as per South African Property Owners’ Association – SAPOA) The Cape Town CBD overall office vacancy rate declined from 13.3% in 2022 to 10.2 % in 2023 to 9.4 % in 2024. In Q2 2025, this increased to 9.5 %. Meanwhile, the City of Cape Town had South Africa’s lowest office vacancy rate of 6.4 % in 2024. In Q2 2025 this dropped to 6.3 %. The amount of total office space, both occupied and vacant, in the CBD in 2024 was 1 053 255 m², slightly higher than 2023 (1 047 979 m²). See pp 29-31 of the report for more information CAPE TOWN CBD RETAIL OCCUPANCY (as per CCID’s own data) TOTAL VOLUME OF RETAIL SPACE at the end of 2024 – 274 320 m² TOTAL RETAIL SPACE OCCUPIED at the end of 2024 – 257 875 m² (4.4 % increase on 2023). TOTAL VACANCY RATE OF RETAIL SPACE – 16 445 m² – amounted to 6.0 % of the total retail space available. In 2023, the vacancy rate was the same. See pp. 52-53 of the report |
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