Bucharest-based Calea Victoriei is the 50th most expensive main retail street out of 57 locations based in Europe, according to a Cushman & Wakefield report. On this ranking, Bucharest is behind Ljubljana, with a monthly rent of €55 per sqm.
In Prague, Budapest, Zagreb and Belgrade the rents are above the level in Bucharest, a lower value being recorded in Sofia, Bratislava, Vilnius, Riga or Skopje.
“The availability of spaces suitable for the opening of luxury stores remains extremely limited in this area of Bucharest, but the proximity to Calea Victoriei has become a magnet for premium hotel brands amid the revival of tourism in this post-pandemic context, a positive factor could influence the need for modern high street retail spaces in the near future,” said Dana Radoveneanu, Head of Retail Agency at Cushman & Wakefield Echinox.
The report further shows that New York’s Fifth Avenue has maintained its position as the world’s most expensive retail street, with Milan’s Via Montenapoleone climbing to second in the global rankings. At global level, Bucharest ranks 40th in the top 49 cities included in the report.
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