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Footfall in Shopping Centres Plummeted by 93% in March and April

This collapse in footfall has caused more than 30% of shopping centre tenants to ask for their rental payments in March and April to be waived, according to MGVM.

Centro comercial Fan Mallorca Shopping 1024x683 2
Fan Mallorca Shopping Centre owned by Carmila.

The company MGVM has published a study about the impact of Covid-19 on the real estate management sector. It reveals that the footfall of people in shopping centres decreased by 93% in March and April of this year compared to the same period in 2019.

Activity in shopping centres has been all but suspended and is down by 95%, on average. Only those stores offering basic products and services are allowed to open. The report reveals that some premises are taking advantage of the lockdown to carry out work inside, such as deep-cleaning and stock counts; meanwhile, others are processing online orders, and so the premises have become their focal point for preparing and distributing shipments.

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