Knight Frank Uganda, the leading property consultancy firm will this Friday release their H1 2020 Kampala Market Performance Review and Outlook report giving a more detailed insight into the property since Covid-19 made a landfall in Uganda in March 2020.
In a media statement released by the company, the bi-annual report “discusses the Covid -19 pandemic, and the impact on the Kampala property market” especially as “businesses emerge out of lockdown and re-occupy offices and as shopping malls open for trade again.”
“We also conducted a market sentiment survey on the future of commercial office space post lockdown and during Covid-19 and the findings have been included in the report” Judy Rugasira Kyanda, the Knight Frank Uganda Managing Director said in the statement.
According to the statement, some of the highlights in the report, include an 11% supply of residential apartment units and retail rental rates that remained stable in the first quarter of 2020.
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“Office space registered a 4% year on year decline in occupancy in Q1 2020 and residential occupancy rates declined by 10% in the first quarter of 2020,” according to a peek into the report provided by Knight Frank.
This is against inflation that averaged at 3.2% for 12 months ending April 2020 and the Central Bank Rate that reduced to 8% in April 2020 and average lending interest rates at 17.7%.
Over the last 20 years, Knight Frank Uganda has offered consultancy and advisory services in Property Agency, Property Management, Valuation and consultancy, and Research services in Uganda.
