Vacancy rates – additional information
Retail real estate is a wide definition within the commercial real estate, which includes such types of property as retail park centers, shopping malls or various convenience stores on the streets of a given location. The vacancy rate depicts the share of unoccupied retail properties available on the market due to the relocation of businesses or new completions. The value of vacancy rate depends on various factors such as location of the real estate, type and cost of the real estate, business environment, logistics and demographics. In the attractive retail real estate locations there is less vacant space available as such places offer good opportunities for expanding the businesses.
The other main types of real estate for which vacancy rates are calculated on a national scale are office, industry and multi-family vacancy rates. They help to determine the state of the economy and provide an overview of its real estate sector.