CBRE expect an increase in the vacancy rate in shopping centers in Poland in 2021, which will translate into a decrease in rental rates. In the future, however, the offer of shopping centers will polarize, which means that the reduction in rents in thriving facilities will be significantly lower than in less-favored facilities, the company said.
“It is forecasted that in the coming years the market of commercial facilities in our country will polarize. On the one hand, the segment of ‘convenience’, i.e. retail parks close to home that meet basic needs, will grow. On the other hand, shopping centers combining commercial, service, gastronomic and entertainment functions will be attractive directions. There will also be multi-functional projects, eg with flats and offices, “said Magdalena Frątczak from CBRE.
According to CBRE estimates, development activity in the shopping center segment this year will be at a similar level as in the previous year.
“In 2020, the construction of 21 new facilities was completed and another 4 were expanded. This means a total increase in supply by approximately 240,000 m2. At the same time, 10 facilities were closed last year, as a result of which the total supply decreased by 200,000 m2. 190,000 m2 are under construction, “we read.
The special circumstances faced by consumers in 2020 affected the way they shopped. The importance of e-commerce grew, but the attachment to visits to shopping centers was making itself felt. After May 4 and November 28, when the galleries were opened after their temporary closure, the increase in visits was significant. Only between November 30 and December 6, even 87% of customers returned to stores, expressed CBRE.
Less people in the mall means less money left in stores. After a sharp drop in turnover in April, from May there was a gradual recovery to the level of approx. 85-90% in the third quarter of 2020 compared to the previous year. However, the values recorded in 2019 were not beaten in any month. The biggest losses were suffered by such industries as services (turnover by approx. 61% lower than in 2019) and entertainment (turnover decrease by approx. 57% compared to 2019).
Source: ISBnews and CBRE
