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Retail Tenants Negotiate For Lower Rent In Hungary

• 1 Sep 2020 8:52 AM
• Hungary Around the Clock

During the epidemic, 98% of retail tenants initiated consultations with property owners on lower rents and in most cases they reached an agreement, according to a survey by consultant CBRE.

The majority of tenants negotiated on rebates, or a restructuring of rent and succeeded in 90% of cases.

This figure was significantly lower in the Czech Republic, where 56% of owners refused to give discounts to tenants, 40% of whom received state help, Napi writes.

In Hungary owners kept long-term co-operation in mind with tenants dealing with the crisis, CBRE said.

Another important finding of the survey was that in addition to increasing their digital presence, 27% of Hungarian retail sector respondents said they plan to operate fewer shops in the short term and 45% plan fewer shops in the long term.

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Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

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