In-store sales are recovering, while there remains risk and uncertainty about the evolution of Covid-19, they are expected to match 2019 levels in both sales and inflows throughout 2022. ICC in FY 2021 was falling back, but remain high and with expectations for further growth this year. Overall, 2022 it’s all about consolidation of the recovery, forecasted to reach pre-pandemic levels in both sales and inflows, with private consumption to grow by 5.8% and retail sales by 7.8% in 2022, predicting this pace of improvement and growth to be maintained for the next years.

We expect a particularly active year for retail in terms of investment and shopping centre activity, with private consumption expected to continue to grow this year. Investors are looking for assets with long-term leases, creditworthy tenants and sustainable rents (which are expected to recover moderately over the next year).

Out of the total investment of c.€13,000 million, a major part of it will be committed to retail, this trend it’s expected to continue throughout 2022. Thus, CG Capital Europe forecast that 2022 will be the year that finally delivers pre-Covid figures, both in terms of sales and footfall in shopping centres and retail parks.

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