Shopping centres are immune to the economic downturn
04.03.2009, 13:58 Larger shopping centres have been quite
immune for the economic downturn so far – the vacancy is continuously zero and
rent prices are similar to the boom time, Ingrid Mitt, the broker of commercial
real estate from Pindi wrote ehitusuudised.net.
The large shopping centres are magnets for companies, who previously had
separate shops. The owners of separate shop areas are under pressure to lower
rent prices.
To get an area in the shop area is difficult, since their conceptions leave
many entrepreneurs out. However, they do accept tenants who give added value to
the centre.
The prices in the shopping centre are continuously EEK 310-780 per square
meter. The trend is upwards in the centre.
A group of entrepreneurs, who just decided to make business and sell
something, is gone from the centres. Buccaneers are gone from the business.
Since the retail sales are going downwards it finally starts to affect the
owners of the shopping centre, but so far they’ve rather been able to improve
their positions and competitiveness.