Thursday 23 September 2021

Vacancy sets off alarms in shopping centers

Colliers study detected an availability rate of 11.76% in June when the recommended maximum is 10%; businessmen say that in July and August the problem worsened

Paying the bills

Latest

Why the billions in English are not like the billions in Spanish

What amount would you prefer to have saved in...

Health confirms 15 cases of malaria on the border with Nicaragua

QCOSTARICA - An outbreak of 15 people positive for...

Conditions worsen for Haitian migrants on US-Mexico border

Q24N - Conditions are deteriorating in a camp on...

Costa Rica, Panama and Dominican Republic seek a solution for Haiti

QCOSTARICA - Costa Rica President Carlos Alvarado, Luis Abinader...

Mexico finds a Latin American ally in Venezuela’s Maduro

Q24N - The recent summit of the Community of...
Paying the bills

Share

(QCOSTARICA) The vacancy rate in shopping centers reached 11.76% last June, a consequence of the COVID-19 pandemic.

For rent signs are common in many commercial centers

This figure puts shopping centers in a difficult situation because the healthy indicator should be under 10%, revealed a study Colliers International Costa Rica.

- Advertisement -

The analysis released this Wednesday, September 9, also reveals a downward impact on prices for commercial premises.

The average cost in all formats went from US$18.50 to US$17.94 per square meter, highlighted Colliers.

In December of last year, when the commercial sector was already feeling a financial impact, the vacancy rate was 10.16%.

As of March of this year, at the beginning of the health emergency in Costa Rica, the indicator rose to 10.38%, and last June it was already at 11.76%.

“Many developers and property owners comment that they are reaching renegotiations seeking that both parties end up benefiting and implementing measures to leverage their clients. However, the availability rate has been increasing every quarter,” said the general manager of Colliers Costa Rica, Pablo Fernández, in the statement.

In some cases, to maintain tenants, landlords are reducing rents temporarily, while reducing services such as security, maintenance, and other cost cutting measures to offset reduced income from rents.

- Advertisement -

 

- Advertisement -
Paying the bills
Q Costa Rica
Reports by QCR staff

Related Articles

Why the billions in English are not like the billions in Spanish

What amount would you prefer to have saved in the bank,...

Health confirms 15 cases of malaria on the border with Nicaragua

QCOSTARICA - An outbreak of 15 people positive for malaria on...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.