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Bucharest’s Magheru Blvd., the most expensive retail real estate in the country, but long way behind the world’s prime shopping locations

When the store rental price of each country’s most expensive shopping locations is compared, Romania comes 55th, with Bucharest’s Magheru boulevard the most expensive in the country.

Yearly rent on the Bucharest strip, comes to about about EUR 600 per square meter.

Although pricey in Romania, it falls well behind the world’s most expensive shopping street in Hong Kong – Causeway Bay – where yearly rent is EUR 24,983 per square meter.

Following Causeway Bay, is the famous 5th Avenue in New York, which will set you back EUR 20,702 per square meter a year, France’s famous Avenue des Champs-Elysees, with prices of EUR 13,255 a square meter per year and London’s shopping hub – New Oxford Street – EUR 8,666 annually per square meter.

Next was Japan with Tokyo’s Ginza (EUR 8,152 per sqm), Italy with Milan’s Via Montenapoleone, (EUR 7,500 per sqm), Switzerland with Zurich’s Bahnhofstrasse (EUR 7,236 per sqm), Australia with Sydney’s Pitt Street Mall, (EUR 7,042 per sqm), South Korea with Myeongdong in Seoul (EUR 6,063 per sqm) and Austria rounding out the top 10 with Vienna’s Kohlmarkt (EUR 4,440 per sqm).

In Romania, the next most expensive location was Calea Victoriei where rates are EUR 540 per sqm annually, followed by Brasov’s Strada republicii (EUR 480 per sqm), Cluj’s Memorandumului, Napoca, Eroilor (EUR 444 per sqm) Timisoara’s Victoriei (EUR 420 per sqm) and Iasi’ Stefan Cel Mare, Cuza Voda and Constanta’s Stefan Cel mare, Rascoala din 1907, (both EUR 240 per sqm).

The information was collected by global retail consultancy Cushman & Wakefield.

Shaun Turton shaun@romania-insider.com 

Pic source: (wikipedia.org, author: carpathianland)