Bucharest’s Central Blvd Magheru Ranked 19th In Top 25 Prime High Streets Europe

Office space rents in Bucharest were estimated by JLL at the end of the first quarter at EUR1,500 per square meter/year, higher than rents on the most expensive street in Stockholm – Biblioteksgatan, of EUR1,419 per square meter per year or Lisbon – Chiado, of EUR1,200 per square meter per year, according to the first edition of Jones Lang LaSalle’s “Prime High Streets Europe” report.

In Helsinki, on Aleksanterinkatu, rents are lower than on Magheru, reaching an annual EUR1,188/square meter.

Champs Elysees in Paris is the most expensive street in Europe, with rents as high as EUR7,360 per square meter/year, followed by Moscow’s Stoleshnikov Lane with EUR7,035/square meter/year and London’s New Bond Street with EUR6,762/square meter/year.

In Central Europe, Bucharest is only cheaper than Prague’s Na Prikope and Budapest’s Vaci Street, with EUR1,800/square meter/year.

Compared to the same period last year, rents for commercial space on Bucharest’s Magheru increased 13.6%, a trend also exhibited by all markets considered in the report. The highest rises were reported in Athens, Istanbul and Prague.