CG malls europe - Commerz Real

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Larger shopping centres of more than 40,000 sqm tend to show an above-average performance.
This is true especially for Dominant Regional Shopping Centres, which benefit
from a controlling position within a given catchment area that can be sustained strategically.
The average vacancy rate at this type of mall undercuts 4% (up from < 3% in
2008) while smaller centres tend to have a vacancy rate nearly twice as high (7.9% based
on ten countries).
Vacancy Rates in Shopping Center > 40,000 sqm
in %
10
8
6
4
2
0
Source: PMA, May 2010
Source: PMA, May 2010
Vacancy rates differ from one region to the next. In Spain and the UK, where the economic
downturn started earlier, vacancy rates are above the European average. Property
Market Analysis Ltd. (PMA) reported that the vacancy rate in Dominate Regional Shopping
Centre reached 9% (2008: 7%) in the UK and 8% (2008: 5%) in Spain. By contrast,
countries where the economic downturn started later, and where the private consumption
was not fed by a housing bubble, the vacancy rate in large shopping centres remains
relative low (e.g. Germany 2%, France 3% and Poland 2%). In Portugal, the vacancy rate
for this market segment decreased from 3.1% in 2008 to 2.1% in 2009.
European Direct Real Estate Investment Volumes
300
250
200
150
100
50
0
23.6
39.6
Source: Jones Lang LaSalle, May 2010
(EUR, Source: bn) Data Jones excludes Lang Residential, LaSalle, Land and may Developments, 2010 deals considered >USD 5 million
2008 2009
DE PL CZ PT FR IT ES HU UK
24.9
34.0
48.0 51.0
56.0
74.2
97.2
73.8 77.0 76.7
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
(EUR, bn) Data excludes Residential, Land and Developments,
deals considered >USD 5 million
Cross-Border Domestic
156.4 153.5
96.8 90.6
62.9
33.4
49.5 35.7