With vaccines gradually becoming more accessible, many people are hopeful that the hardships caused by the pandemic may soon be over.

However, now one year removed from when COVID began spreading in America, the financial fallout from its damage is becoming clear.

As reported by John Gittelsohn at Bloomberg, appraisals have revealed that malls in the U.S. lost an average of 60 percent of their value during 2020.

There is little doubt that the safety precautions needed for most of the year likely account for the majority of that loss.

Analysts have projected a grim outlook for the results this will have on many malls. A real estate analyst for Compass Point Research & Trading, Floris van Dijkum, expects that of the 1,100 indoor malls in the U.S., only half look likely to last.

In discussing the matter, van Dijkum said, “There’s a huge bifurcation between good and bad quality. By value, 80 percent is in the top 300 malls.”

In essence, higher-end malls, like those owned by Simon Property Group, will likely endure, whereas malls that lay claim to smaller areas or less big-name retailers will be forced to sell.

Analysts predict that for malls in the latter category, it is only the land the malls are built on that will have value, while the malls themselves will likely be demolished.

To learn more about the state of mall values right now, read Bloomberg’s article by clicking here.