Shopping centres are immune to the economic downturn

 Add Comment

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.