The modern retail stock in Romania has reached around 4.7 million sqm, which corresponds to a density of 250 sq m/1,000 inhabitants, still one of the lowest in both Europe and the CEE region.
On the other hand, developers have announced major investment plans for the coming years, so the gap between Romania and other countries in the region will continue to narrow, with more than 600,000 sqm of retail space currently due to be delivered by the end of the decade, according to data from real estate consultancy Cushman & Wakefield Echinox.
“In the medium and long term, the Romanian retail market has the potential for sustained growth, both in the main cities and in secondary and tertiary cities, the density of modern spaces being in many cases below the European average,” says Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox.