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Nicolae Ghibu, Certsign
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Historic centre defies market with ten per cent rent rise

LIPSCANI Retail space rents are rising in the Historic Centre in Bucharestís Lipscani neighbourhood, defying the market slump in shopping space rents across the capital, according to real estate consultants CB Richard Ellis Romania

November 2010 - From the Print Edition

The Historic Centre is a network of 19th century streets centred on Strada Lipscani whose recent redevelopment has witnessed a boom in cafes, restaurants and take-aways.
Rents in the district - the only pedestrianised area in the capital - are between five and ten per cent higher than in 2008.
The prices range between 35 and 50 Euro per sqm per month for a 100 sqm revamped space, with maximum visibility. Tenants can rent an unrenovated space exceeding 100 sqm for prices between 12 and 14 Euro per sqm per month in this area.
While the ground floor areas in the centre are dominated by cafes and restaurants, analysts expect a boom in the renovation of first and second floor flats and small offices in what is fast becoming the most stylish location in the city.



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