The company’s research shows that rents for this type of property have narrowed by up to 23% over the past year.
The greatest decline in rent was noted in southeastern city Constanta, namely 22.9%, while Bucharest’s Calea Victoriei was the top decliner in Bucharest. Thus, rent on prime high street property in Constanta reaches an average EUR27 per sqm per month, while the average Calea Victoriei rent stands at EUR55 per sqm per month.
Compared to the final quarter of 2010, rents stagnated in January-March this year.
The bulk of demand comes from casinos, which are looking for surfaces of 100-150 sqm, and discount stores, which seek surfaces of 600-1,000 sqm, the report shows.
Before the economic crisis, demand for such property came mostly from banks and drug stores.