Bucharest has most expensive street-side rentals
22 January 2008
Bucharest is more expensive than Prague and Warsaw in terms of street-side rentals, but four times cheaper than London, according to market research carried out by real estate advisory company Jones Lang LaSalle (JLL). Average rent for street-side stores was EUR 1,440/per square meter per annum, according to JLL survey.
Cluj and Constanta will surpass Bucharest in terms of commercial space per 1,000 inhabitants. Cluj will have 404sqm per 1,000 inhabitants, and Constanta 230sqm per 1,000 inhabitants. Bucharest will have a mere 217sqm/per 1,000 inhabitants, states the report.
In regional terms, Warsaw has 500sqm of commercial space per 1,000 inhabitants, while Budapest has 300sqm. Construction in Romania on 19 shopping malls is expected to be completed in 2008. ''This data means only that most of Romania’s cities have great development potential,'' according to JLL consultants.