Gauteng shopping centers underperform compared to ones in KZN and Western Cape centres
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GUEST – Belinda Clur, managing director of Clur International
Trading density for prime retail space in South Africa has dropped, even if the Western Cape has been relatively unscathed. According to the Clur Shopping Centre Index, trading density levels dropped further in Q1 2024, even if the rate of contraction was more muted than the final half of 2023.
The industry-standard index interprets performance at over 100 centres and 140 merchandising categories across South Africa and Nambia. “The Q1 2024 national Clur Index for all centres closed at 4.4% y/y growth. This represents a contraction of 0.6% relative to 2023’s 5% y/y growth,” said Belinda Clur, MD of Clur International.
The national index has underperformed the inflation rate since November 2023. Overall, super-regional centres—100,000+ sqm plus—showed the highest trading density for Q1 2024 at R49,066/sqm, followed by community and smaller centres—those below 25,000 sqm—at R42,386/sqm.
Trading density for prime retail space in South Africa has dropped, even if the Western Cape has been relatively unscathed. According to the Clur Shopping Centre Index, trading density levels dropped further in Q1 2024, even if the rate of contraction was more muted than the final half of 2023.
The industry-standard index interprets performance at over 100 centres and 140 merchandising categories across South Africa and Nambia. “The Q1 2024 national Clur Index for all centres closed at 4.4% y/y growth. This represents a contraction of 0.6% relative to 2023’s 5% y/y growth,” said Belinda Clur, MD of Clur International.
The national index has underperformed the inflation rate since November 2023. Overall, super-regional centres—100,000+ sqm plus—showed the highest trading density for Q1 2024 at R49,066/sqm, followed by community and smaller centres—those below 25,000 sqm—at R42,386/sqm.
