Modern retail stock on the Romanian market hit 3.38 million sqm in June, with shopping centers accounting for 57 percent of the total, according to latest figures published by DTZ Echinox. Three retail projects were completed in the first six months of the year, totaling 69,000 sqm of space: Shopping City Timisoara (Phase II), Mercur Craiova and Satu Mare Shopping Plaza.
The average vacancy rate for large-scale projects is 2 percent, while in side projects it’s at 8 percent and in tertiary projects, vacancy is between 10 and 15 percent, according to DTZ. Prime rents have increased slightly in the first half of the year, ranging between €65 to €75/sqm/month for performing retail projects in Bucharest and between €22 to€27/sqm/month for dominant centers in secondary cities.
