Gertjan Slob shows in his Locatus blog ‘Despite corona store vacancy has hardly increased’ that we are still dealing with the calm before the storm. Will it be possible to avert the hurricane, or will Covid-19 make many victims in the retail market?
2019 was the year in the Netherlands in which the vacancy rate increased the most in the past 15 years. Given the situation in 2020, it was expected that the growth in vacancy would only increase further this year. Remarkably, that is not the case. In the first months of 2020, we still saw an increase in vacancy in the number of buildings, but since March the increase has been very limited. In retail space, vacancy has even fallen, from 8.1% of the retail space at the beginning of this year to 7.6% now.
Despite long closures, sharply declining visitor numbers and a very large increase in internet purchases, the market has been able to hold up reasonably well – at least in terms of vacancy. There are a number of explanations for these special developments. Read on here.
(PvWK, source: Locatus, image: Cartier / Unsplashed)