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According to CBRE forecasts, by the end of 2024, the total modern retail space in Romania will exceed 4.5 million square meters, setting a new record. It is anticipated that projects currently under construction will add approximately 185,000 square meters of retail space in the country.
The CBRE report "Romania Retail Destinations 2024" indicates that major Romanian cities will attract about 185,000 square meters of new retail space in the coming period. The largest share of supply is located in Bucharest or its surrounding areas. Shopping centers account for just over one-quarter of the total supply in Romania, while retail parks make up 73% of the newly created space.
Bucharest leads in terms of the largest shopping center area (773,300 square meters), followed by Brasov (171,000 square meters), Timisoara (170,000 square meters), Cluj-Napoca (123,000 square meters), and Constanta (118,000 square meters). The shopping center format continues to be favored in the largest cities.
Monthly rental rates in shopping centers in Romania, in the surveyed cities, range from 45 to 80 EUR per square meter.
CBRE notes that Romania maintains its position as an attractive market for international retailers, with demand for large spaces growing. The year 2024 promises to be dynamic from a commercial perspective, given the interest in the Romanian market by new brands such as KIKO Milano and Happy Restaurants.
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New Record in Romania's Retail Market
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