The influx in shopping centers will return in January to pre-pandemic levels

The influx in shopping centers will return in January to pre-pandemic levels

MVGM, a European reference company in Property Management, has published the report corresponding to the third quarter of 2021, marked by the arrival of the long-awaited vaccine against COVID-19 and, with it, the beginning of the economic recovery, which show an optimistic vision about the sector.

The report highlights, among other data, that almost 100% of the shopping centers are operating normally again and all their stores have opened. Also, the upward trend of its influx during the summer, with a cumulative index of + 14.4% -according to Shoppertrack data- compared to September 2020, which anticipates its return to prepandemic levels in January 2022. The average ticket, On the other hand, it is still higher than in 2019, which reflects a change in the attitude of consumers, who go to the store with the intention of buying.

“After these months of continuous changes in the sector, now more than ever we appreciate the ability that retail has had to reinvent itself and adapt. We see how many brands have had to reestablish their business model and even diversify it to give their customers more options at the place of purchase ”, explains Elisa Navarro, General Director of MVGM in Spain.

Offices: the hybrid telework model is consolidated, but offices do not reduce space

During the last quarter, flexible office assistance models have been consolidated. 75% of the companies in the MVGM portfolio have opted for this hybrid format. However, by not going to the office less, space is not being dispensed with. Of all the tenants who have established some mode of teleworking, only 6% have chosen to reduce the square meters rented for their offices, according to the report.

"This decrease in occupancy will help to generate new spaces within the offices to make them healthier, and position companies to offer better working conditions," says Elisa Navarro.

Residential: house purchase prices rise, while rental prices stabilize

The housing sales market has been the least affected by the pandemic. The number of operations in recent quarters has increased to 25% in total and 40% in new housing compared to the same period in 2020. Prices have remained strong and in the third quarter there is a year-on-year rise at the level of Spain of about 10%.

Regarding the rental market, during the second and third quarters of the year we have seen how rental prices have tended to stabilize after the initial drop at the end of 2020 and the first quarter of 2021.

Hotels: the ‘boom’ of national tourism during the summer leads the resurgence of the occupation

Spanish hotels received 26.4 million overnight stays in July, more than double the number in the same month of 2020 (11.5 million), but still well below pre-crisis levels (43.2 million in July 2019). The first big change is the explosion of domestic tourism that has served to offset the decline from abroad. If traditionally the former represented a third of the overnight stays, the percentage has shot up to 56.5% of the total.

On the other hand, the sector is facing the second semester with a reactivation of investment in hotel assets, which could be over 2,000 million euros.

Industrial: Urban logistics, last-mile warehouses and 'big-boxes' on the outskirts: product of the e-commerce boom

E-commerce has continued to drive logistics demand during the second quarter of 2021. Online sales have directly impacted the hiring of new land, breaking investment records.

Urban logistics, last-mile warehouses or big-boxes outside cities are expected to be the main products that will drive logistics demand in the short and medium term.

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