The situation of shopping malls and parks is contradictory. On the one hand its Perfect to use and functionWe are past the closures and declines in admissions experienced during the pandemic a few months ago. But, Investment in this asset class is decreasingmainly on the trading numbers and the appetite of the main investors.
Eduardo Ceballos, president of the Spanish Association of Shopping Centers and Parks (AECC), organized the According to the latest data presented on the opening day of the Congress, sales and engagement The proportion of Spanish department stores did not stop growing in the first half. They specifically did this 12.3% and 8.4% respectivelyCompared to the same period in 2022.
“Sales of all sectors are increasing Ceballos said, “Except for the Covid-19 months, the sector has been in a good growth trend in recent years. According to AECC data, home equipment sales increased by 7.6 percent in the first half of the year, fashion and accessories by 5.8%, and restaurants by 3.5%.
According to industry estimates, growth in numbers will not slow down anytime soon. “Consumer confidence remains and the macroeconomic situation is becoming increasingly positive as inflation is falling. July and August were very good months, and although everything slowed down a bit in September, We expect a very good Christmas and Black Friday campaign as well as the fourth quarter“added the AECC president.
Investment went bankrupt
Investments in business assets fell by almost 90% in the first half of the year. Especially when it comes to just shopping malls 81 million euro sales74% less than in the same period in 2022. This behavior commercial parksAttracting the attention of investors and closing the same period with volume 145 million eurosAccording to consultancy firm JLL’s ‘Snapshot Retail 2Q 23’ report, it is 17% more than in the first half of last year.
This decrease in investments is due to two reasons specifically for shopping centres. First, Doubts about business model and market After the rise of electronic commerce and the subsequent outbreak of the epidemic. Finally, the number of visitors and sales data confirm that the sector continues to grow and there is no fiasco. On the other hand, investment, like the rest of the real estate market, depends on the returns offered by assets and the macroeconomic situation. recent increase Central banks’ interest rates have led to significant declines in the investment market, particularly 50% in the Spanish market.
More operations in the coming months
This paralysis in investments may change in the coming months. If the European Central Bank stops raising interest rates, the value of assets will stabilize and buyers and sellers will be given greater certainty over the price of a property, in this case a shopping centre. This situation may occur From 2024especially in the second semesterAccording to the market consensus reached at The District property fair held in Barcelona last week.
Source: Informacion
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