Development of purchasing power per resident
1.5 % 1 % 0.5 % 0 % -0.5 % -1 % -1.5 % -2 % -2.5 % -3 % -3.5 % -4 %
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2020
2021 2022p 2023p
Source: RegioData Research GmbH Wien 2022
– a hardly surprising fact – non-food discounters like Action, KiK, NKD and TEDi, which are continuing their expansion programmes and on the search for additio- nal locations. The furniture trade and new showroom concepts are also interested in inner city locations. The continuing low production of new space has had a stabilising effect. Investments have been directed primarily to improvements in existing buildings, and there is little interest in the creation of additional space. This is taking place, for the most part, in the ground floor zones of residential projects. According to Standort + Markt, retail parks have also seen an increase in space – 17 retail park clusters have opened since 2019 – among others, due to the sound development of the food trade, drugstores and non- food discounters. However, the space removed from
the market continues to exceed new construction, especially at weaker urban locations. The end result will be a reduction in the selling space per resident, which is still higher than the European average. There has been no evident upward trend in rents this year, and discounts have been part of the negotiations for contract extension and new rentals in many cases. Top locations in shopping centres and retail parks as well as inner city sites are currently least affected. Here, interested firms are still waiting for vacant space to realise projects that have been in the pipeline for some time. Retailers are increasingly reporting that inflation-related rental increases will be difficult to finance, and it will actually be necessary to accept compromises in certain cases to avoid cancellations.
Retail sales in Austria
€ 110 bill. € 100 bill. € 90 bill. € 80 bill. € 70 bill. € 60 bill. € 50 bill. € 40 bill. € 30 bill. € 20 bill. € 10 bill. € 0 bill.
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022p 2023p 2024p 2025p
Stationary turnover (gross)
Online turnover (gross)
Source: Action, NKD, TEDi
5
Powered by FlippingBook