COMMERCIAL PROPERTY

Store rentals post major rebound over the summer

store-rentals-post-major-rebound-over-the-summer

The property market for retail stores has entered a recovery phase, as reflected by new leasings both in popular commercial districts and inside shopping malls, as well as by the gradual rise in rental rates, which have reverted to last year’s levels, according to an analysis by the Proprius property service agency.

The local representative of international group Cushman & Wakefield added that there was a considerable rebound in retail turnover and in consumer confidence in the year’s second quarter.

This has restored market confidence and increased the number of new contracts signed, ahead of a further rebound anticipated in consumption.