Hard times for the retailers of shopping centers

The fall in household consumption causes downhill-ride for the retail sector. Customers increasingly looking for cheaper products, which affects negatively the more expensive shopping centers.

The decreasing demand may have dual effect – published REsource IngatlanInfó. On the one hand, the competition is increasing between the supermarkets, on the other hand, the developers of the planned projects are biding. Currently, the Arcade, Mammut and WestEnd threefold is in the best position. Development of shopping centers in the country last year, has also been a significant pace, but now because of the crisis the investors will wait until 2010- 2011. The tenants of the plazas are in a difficult situation: a turnover has been dropped, while their costs increased by 20-30% as a result of the weakening HUF.