15 Shops Are Empty From Every 100 Shops

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Nişantaşı Region and Bagdat Street on the Anatolian Side, “Istanbul Shopping Malls Report”, which examines the three main streets of Istanbul with including Nişantaşı district, istiklal Caddesi on European side and Bağdat Caddesi on the Anatolian Side was published by US-based real estate consulting firm Cushman & Wakefield,

According to the report, the number of empty stores, which was 5 percent in September 2013, rise to 15 percent in September 2016.

istiklal-beyoglu

Continuing urban conversion projects in Nişantaşı and Bağdat Caddesi, Increased security concerns on istiklâl Caddesi, decrease in value in Turkish Lira and as a Result increased rents, show a reason that the empty shops in shopping streets in the report. Cushman & Wakefield, in his report, said, “Despite the continuing trend of ‘Strength survive’, only a few eating and drinking, some major clothing and cosmetic brands continue to grow more consolidation and exit from the market “took place.

While the number of international brands fell from 173 to 140 between 2014 and 2016, this trend was more pronounced in Nişantaşı, and more prominent in Bagdat and istiklal caddesi. On the basis of the number of international brands, Nişantaşı took its first order with 64 stores, followed by bagdat caddesi with 48 stores and İstiklâl Caddesi with 28 stores.

In the last two years, the number of international brands on the street has decreased from 35 to 28. Compared to the same period last year, the number of food and beverage stores decreased from 74 to 62.

 

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