The average turnover generated by shopping centres in the Czech Republic grew 7.7% y/y in 2016 for the second year in a row. Rents increased for the first time in five years (up 0.5%).
Shopping centres’ visitor rate increased by 3.3% and vacancy rate dropped to 4.7%. This stems from CBRE’s Shopping Centre Index survey. Special retail covers 15%, with the health and beauty sector amounting to 40% of special retail.
Sport follows with 13%. Head of Retail Katarina Brydone has stated that gastronomy was the most dynamic sector, with turnover growing by 15.4% y/y.