Colliers: retail area barely expands this year

According to the latest retail market report of the Hungarian office of Colliers International, domestic demand has not changed appreciably during year 2011. The retail sales stagnated between January and November last year, compared to the same period of the previous year.

In 2011, only a few large retail centers opened their doors, such as the Europeum on 6,000 square meters on the Blaha Lujza Square, the KÖKI Terminál at the terminal of the Metro 3 in Kőbánya (47,000 square meters) and the Árkád in Szeged (41,000 square meters).

In general, rents continue to remain low after a 10 to 30 percent decline occurred in the last two years. However, the best supermarkets have managed to stabilize or even increase their rent prices. One positive example is the MOM Park, which successfully acquired several new, high-quality tenants, on rent levels that exceed the previous tenants’s rents in some cases. Similar positive examples are the Mamut and the Aréna Plaza. (Világgazdaság Online)