Prime office rents declined by 11 percent while residential rents declined by 19 percent on average in the year to December 2020 in most prominent African cities due to the current economic downturn occasioned by the Covid-19 pandemic.
Knight Frank’s inaugural Africa Office Market Dashboard for Q1 2021, tracking the performance of rental rates in African cities, also shows that Dar es Salaam and Tunis recorded the highest declines in prime residential rents, recording drops of 33 percent and 34 percent respectively on average in 2020 compared with 2019.
