The retail market in Romania has room for growth, considering that short-to-long term pipeline exceeds 800,000 sqm, consisting of projects under construction or in different permitting stages, which are due to be completed by the end of the decade.
This figure includes several super-regional shopping centres of more than 100,000 sqm each, according to a report by Cushman & Wakefield Echinox.
This year, the new retail area could grow by more than 200,000 sqm, compared to 213,000 sqm during 2023.
At the end of Q3, Romania’s retail stock reached 4.59 million sqm, of which 55% consisted of shopping centres, while retail parks and commercial galleries accounted for the other 45%.
During Q3 2024, two new projects and two extensions were completed, totalling around 22,000 sqm.
“The retail market is going through a very positive context, having successfully passed the more difficult periods of the last few years,” says Dana Radoveneanu, Head of Retail Agency at Cushman & Wakefield Echinox.
The prime shopping centre and high street monthly rents in Bucharest recorded slight surges, up to €90 and €60 per sqm respectively (for units ranging between 100 - 200 sqm at the ground floor of dominant shopping centres or on Calea Victoriei).
The corresponding figures in secondary cities, such as Cluj-Napoca, Timișoara, Iași and Constanța remained constant, ranging between €50 - €65 per sqm.
