Mall development is in crisis

This year, a relatively large number of shopping malls had been built, however, experts expecting a marked decline in the future. Most of the malls are obsolete, but do not dare to embark on new developments. Malls are built mostly in rural areas.

The mall boom of the previos year has ended. Nowadays, half of the retail units are under five years. Two-third of the shops in the cities under 100 thousand inhabitants, were built after 2006. In November, the reantal area has reached 1.8 million square meters. 835 thousand square meters are located in Budapest, the other half divides between the cities under and over 100 thousand inhabitants – reports Index.