Since November, listings for restaurants, hotels, bars and cafés have skyrocketed. In January, they were a full 70 percent above the previous year's value, as the real estate platform Immoscout24 announced on Monday. This means that listings for restaurants and bars have reached a new high.
According to the announcement, the advertised pubs are almost exclusively rental properties. Because the rent makes up a significant part of the fixed costs, many restaurateurs are currently forced to give up their rented premises, Immoscout24 boss Martin Waeber is quoted as saying.
Rents are likely to fall
At least there is a small consolation for the restaurateurs who have now given up their premises: When they reopen a pub, rents are likely to be lower than before. For on the one hand, more and more pubs are empty, on the other hand, the demand for rental properties from the gastronomy sector has also been falling since the beginning of the second lockdown.
And according to the real estate experts at Immoscout24, this is likely to influence prices: "If the supply continues to rise and the demand for these properties declines at the same time, this could put pressure on rents in the medium term," says Waeber.
No influence on purchase prices
A different picture emerges with regard to gastronomy premises for sale: Property owners, unlike tenants, are much less likely to want to part with their properties. In any case, according to Immoscout24, the number of advertisements for properties for sale is still at the pre-crisis level.
"Due to the lower interest rates, owners have the advantage that they have lower costs than tenants," Waeber is quoted as saying. Moreover, such properties often do not only consist of gastronomy areas, but also of rented flats, which are hardly affected by the crisis. (SDA)