Calea Victoriei in Bucharest ranks 40 in the top 50 commercial arteries in the world in terms of the rent of commercial spaces, immediately after Ljubljana, a report shows by Cushman & Wakefield cited by ZF.ro.
The average rent on Calea Victoriei is 55 euros/sqm/month, below the level of Budapest, Zagreb and Belgrade but above Sofia, Bratislava, Vilnius, Riga or Skopje.
The ranking is made following the analysis of the reference rents from the best retail locations in the world, which, in most cases, are related to the luxury sector. Calea Victoriei in Bucharest is the only commercial artery in Romania considered in the report, representing the most expensive retail location on the local market. The offer of retail spaces suitable for the arrangement of new luxury stores remains extremely limited in this area of Bucharest. Still, against the backdrop of tourism, the Calea Victoriei area has become a magnet for premium hotel brands, which could cover this need for retail spaces.
Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox.
According to the report, Fifth Avenue in New York has maintained the position of the most expensive commercial artery in the world, with an average of 1700 euros/sqm/month, and via Montenapoleone in Milan climbed second in the global standings, with 1,500 Euro, up 20%.
In the last year, rents in global retail destinations increased by 4.8% (in local currency). The most substantial growth was recorded in Asia Pacific, which had an average of 5.3%, with America at 5.2% and Europe at 4.2%.
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