Average stock of modern retail space in Romania up 24% compared to 2010

Modern shopping center area across Europe increased in 2011, while in Romania there was a 24 percent rise in the average amount of modern retail space per 1,000 inhabitants, according to a study by real estate consultancy firm DTZ Echinox.

Suceava remains among the cities with the largest retail stock, having a weighted stock of 736 sqm per 1,000 inhabitants, nearly 10 times the national average and above twice the 307 sqm average in Bucharest. The top cities for retail space are Arad, Constanta and Iasi - which has five modern commercial centers and 366 sqm of modern retail space per 1,000 inhabitants. At the bottom of the ranking stand Drobeta Turnu Severin, Braila, Botosani, Tulcea and Giurgiu, where modern commercial stock lies around 100 sqm per 1,000 inhabitants, while the other 13 county seats currently don’t have a modern commercial center. In 2012, European retail stock stands at about 27 percent above the level at the end of 2010, reaching an average of 326 sqm per 1,000 inhabitants. Romania's average stock is 2 to 3 times below the level of other countries in region, which range between 124 and 219 sqm per 1,000 inhabitants. Looking at capital cities, the lowest stock is recorded in Kiev with 256 sqm. Warsaw, Prague and Budapest recorded medium stocks per 1000 inhabitants, more than in Bucharest, with Warsaw and Prague hovering above twice the value of the 307 sqm per 1,000 inhabitants’ registered in the Romanian capital. Ioana Toader, ioana.toader@romania-insider.com (photo source: sxc.hu)