Dorobanti is increasing in popularity among luxury brands, and could see higher growth figures than Victoria Avenue. This despite the fact that rents there are 30 percent higher, claims Capital Property Advisors. Despite the economic difficulties, it writes, luxury brands continue to expand in Bucharest.
Victoria Avenue once reined supreme in the minds of luxury retailers, but an increasing number are heading to Dorobanti, where vacancy is currently at 10 percent. By the end of 2012 the area should see the appearance of Brunello Cucinelli, Distinto, Mosquino and Cavali.
Victoria Avenue is faced with 25 percent vacancy, with average rents believed to run between €50-60 per sqm. In the last two years, retailers like Helvetansa, Emporio Armani, Gucci, Hugo Boss and Diamond Boutique have opened shops there.
