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Highstreet retail rents have dropped by up to 40% in Central and Eastern Europe
News 01 December 2009
A recent survey conducted by CPP Management Consultants Ltd among the major real estate brokers in the Central and Eastern European markets, revealed that major high street rents have dropped by up to 50% in the past 9 months compared to last year. CPP has focused specifically on the highstreets which concentrate the majority of luxury shops in the respective capital city.
BUCHAREST
Calea Victoriei - drop of 50% from an average of EUR 120/sqm to EUR 60/sqm
BUDAPEST
Andrassy Ut - drop of 30% from an average of EUR 150/sqm to EUR 100/sqm
SOFIA
Vitosha - drop of 50% from an average of EUR 150/sqm to EUR 75/sqm
BELGRADE
Knez Mihailova - drop of 20% from an average of EUR 150/sqm to EUR 120