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Office property sector facing rough patch

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Experts say this is no time to be in hotels either, thanks to the effects of the pandemic, which means foreign visitors aren’t coming and locals can’t afford to stay in them. The office property market continues to wallow in a pit of oversupply and rental income pressure – and not even the trend of officeto-residential conversions will be able to save it – not anytime soon, anyway. The situation for hotels is even more depressing, says FNB commercial property economist John Loos. The commercial property market, generally, was under pressure in terms of rising vacancy rates even before the…