Further retail market growth expected in 2017!
Company: CBRE s.r.o.
The Czech retail market has become very stable and relatively easy to predict partly thanks to limited development. Newly implemented Electronic record of sales should increase the transparency of the market.
- Oxford Economics monitored a slight slowdown in retail spend which increased by 4.6% y-o-y in 2016. This trend is predicted to continue in 2017 with forecast growth of 2.7% y-o-y.
- Dynamic changes on the high street market caused by shifts to better locations, ongoing extension and also the offer of newly refurbished space.
- The number of new retailers who entered the Czech market increased 47% y-o-y in 2016.
- Newly implemented Electronic record of sales should increase the transparency of the market.
- Trading restriction were introduced on selected public holidays.
- The shopping centre stock increased by 1.5% thanks to two new completion in the regions: Galerie Prerov and Aupark Hradec Kralove. We expect a further increase of 2.6% in 2017.
- The Prime high street and shopping centre rents grew by 8% and 9% respectively. This trend will continue in 2017.
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