Bucharest Historic Center Rents Rise, Defying Trend - CBRE Romania

Thus, rents reach some EUR35-50 per sqm for a 100-square meter retail space with improvements, maximized visibility and no litigation. For a larger space, without renovation and on the ground floor, in a very good area, the rent could reach EUR12-24 per sqm.

Small areas, under 100 sqm, located in already renovated areas, saw a 5%-10% increase in rent since 2008, exclusively due to the quality of infrastructure and the renovation process, CBRE notes.

However, increased competition in a high-traffic area that caters to a narrow spectrum of needs, namely bars, cafes and restaurants, means prices are pressured, which reduces profit margins. Furthermore, there are very few spaces still available for rent, mostly on alleys that are still under works.

CBRE representatives added sales would be improved in the area and traffic increased by a more diversified mix of businesses, with the area's potential innovators and pioneers lined up profit the most.

CB Richard Ellis is a real estate consultancy company active in property sale or lease consultancy services, project management, mortgage loan consultancy, appraisal, development planning and investment management.

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