The report analyzes 28 cities, across 7 administrative regions, excluding Bucharest.
The modern retail stock outside Bucharest is of 1.9 million sq. m. Shopping centers account for 62%, while retail parks and commercial galleries represent 21% and 18% from total retail stock. Most of the retail space outside Bucharest – approximately 60% - was delivered between 2006 –2008.
Currently there are only two shopping centers under construction outside Bucharest. Shopping City Targu Jiu, with 27,000 sq. m of rentable area is expected to be delivered this year. Coresi Shopping Center, located in Brasov, will have upon completion in 2015, 51,300 sq. m of rentable area.
Headline rents achieved for units of 100 sq. m in dominant shopping centres outside Bucharest range in average between €20 –25 / sq. m/ month. In cities such Cluj Napoca, Timisoara, Iasi or Constanta the prime headline rents are with 25% -35% higher. For tertiary cities the prime headline rents are between €12 –18 / sq. m/ month.
For complete information, please see the attached report.
