- 4 Mar 2013 8:00 AM
It is because of the "Plaza Stop," a controversial government decree that prohibits the building of commercial buildings over the size of 300 m2 starting January 1, 2012 until the end of 2014. Apparently the rapid spread of shopping centers, supermarkets, discount stores threatened local business owners and small town shops.
Instead of acquisition of competitor chains or entering the few new shopping centers exempt from the Plaza Stop, the remaining option for those wishing to expand was adapting the interior to existing buildings. Some view this as a boomerang effect, for thus the international chains usurp the market from the inner-city small shops, who felt safe until now.
By Andras Patkai, Entrepreneur, Founder and CEO of CE Invest Group, and expert blogger on real estate and property issues in Budapest and Bratislava.
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