With an average level of EUR70/square meter/month, up 17% from last year, Bucharest ranks 39th globally and 24th in European, on a par with Zagreb.
London’s New Bond Street has been designated as the world’s most expensive retail destination, with rents rising 22% in the past year there, to EUR1,707/sqm/month.
“(…) Calea Victoriei, the only shopping street in Romania included in this global ranking, continues to attract luxury retailers and presence with a store on this street in downtown Bucharest is a strategic decision that will secure a competitive advantage,” commented Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox.
Globally, rents have risen by 4.2% on average and 58% of markets have registered higher rents. Europe has had a steady increase of 4% in annual terms.
(English version by Catalina Apostoiu)