Retail property sector…
The country’s retail property sector has been hurting due to the decline in private consumption but shopping malls are showing more resilience to the downturn than their high-street competitors, according to a report from broker Southeast Real Estate. The company said shopping malls recorded only marginal losses in rental values and turnover in 2009, benefiting from a wide variety of attractions, such as cinemas and food outlets, as well as professional management from sector experts. ‘For the time being, they seem to be winning the battle against the traditional high-street retailer,’ it said. Looking ahead, Southeast Real Estate expects a further decrease in retail rental values in 2010 and upward trends for prime retail yields.
