Retail property sector rebounds as SA shoppers hit the malls
Tills are ringing merrily again in brick-and-mortar stores, but SA shoppers may have to rein in their spending sooner rather than later
Retail therapy-starved South Africans have returned to malls in their droves, with latest industry data pointing to a stronger-than-expected rebound in shopping centre metrics.
Retail sales, as measured by trading density (turnover per square metre), surged by 17.5% year on year in the fourth quarter, according to the SA Property Owners Association and MSCI Real Estate’s latest retail trends report. That’s the highest annualised growth on record — albeit off a low base...