The South African property market has grown largely on the back of a buoyant economy across all sectors, with the following factors contributing to rising prices: 

- A shortage of zoned land amid exponential demand 
- Increased attention from the investment market 
- Significant growth from larger private developers 
- Assistance from government-sponsored upliftment programmes 
- Rapid building cost inflation 
- Electricity shortage, especially for new developments. 

A quick look at the greater Cape Town market reveals the following story. 

Central (N2 corridor) 
Airport Industria – comprising Airport City and Cape Town International Airport – is one of the Cape’s premium growth nodes. Unparalleled access to all major highways has seen expansion from the traditional airport-user focus to a broader range of service and distribution operators. Land prices have more than tripled in the past three years and rentals are consistently strong. Recently launched onto the industrial market is Sheffield Business Park, a 50+ hectare development alongside Vanguard Drive, almost equidistant between Cape Town CBD and the international airport. This could prove ideal to those looking for space with easy highway access. 
Epping Industria, arguably the Cape’s most well established industrial area with good public transport is undergoing revitalisation. Proximity to all major highways and an abundant labour pool make this a constant favourite among industrialists. Parow and Tygerburg Business Park have taken on a new lease of life with good access from the upgraded Modderdam Road, proximity to labour, transport and the airport making it an ideal location for distribution centres. 

Southern suburbs 
Capricorn Park has come into its own and land is now sold out, with selected on-sales coming onto the market. One of the few locations in the popular southern suburbs offering sizeable new development opportunities and state-of-the-art infrastructure, it has proven attractive to a mix of users. 
Industrial space in Diep River has always been attractive because of a well-skilled workforce and the security offered by the surrounding residential component. Older space is now being refurbished and proving popular. 
Westlake Business Park with its unique mix of office, light industrial and high-end manufacturing surrounded by exclusive residential space commands some of the highest selling prices in the Cape. 

North West corridor 
Montague and Killarney Gardens are some of the most sought-after industrial and mixed-use zones in the Cape, with proximity to nearby residential areas ensuring a high retail component. Racing Park and Atlas Gardens are new developments much in the same vane. 
Atlantis was initially viewed as out of town but their popularity is on the up as good access, bountiful labour and discounted land prices combine to create an attractive offering. Greenfields project Montague Park, positioned close to the already successful Montague Gardens industrial node, is a 64-hectare development offering tenants prime space in a true mixed-use environment. Paarden Eiland’s proximity to the city centre and good highway access make it desirable to those especially focused on the consumer market, and prices reflect this. 


Northern suburbs (N1 & N2 corridor) 
Blackheath and Saxonburg Park is benefitting from the development of new space, with easy access, bulk land supply and competitive prices this mixed use node is proving very popular. 
Stikland, Okavango and Brackenfell also have excellent highway access, and the incessant urban creep has seen a move to retail/warehousing, service and light manufacturing opportunities. 
Triangle Farm (Bellville Triangle) and Belville South (Sacks Circle) is one of the Cape’s most established industrial zones which is attractive to large users. Well served by public transport and close to highways, it has seen renewed popularity. 
The Somerset West node, thanks to abundant land and good highway access, has experienced meteoric growth in recent times. Supported by a strong retail presence and an upmarket residential base, this area has grown tremendously and this shows no sign of letting up. 
Firgrove Industrial Estate is the newest development launched in this prestigious node. With sites from 2000m² and premises built to tenants’ specifications this could be an ideal leasing opportunity for business requiring easy access to both Cape Town International Airport and Cape Town harbour. 

In summary, while rising interest rates and electricity shortages are real issues facing developers and property owners alike, property remains a finite resource and there will always be opportunities in the market.