Over 22,000 sqm of new retail spaces delivered in Q1 2023 in Romania

The total stock of modern retail spaces in Romania reached 4.11 million sqm in the first quarter of 2023. According to the latest Romania Retail Market Snapshot report.

Shopping malls continue to dominate the sector, 62% of total commercial centers, and the rest of 38% are retail parks.

Approximately 300 million euros have been invested in the construction of new modern spaces, intended for shopping, malls, or retail parks, from the beginning of 2022 until the first quarter of 2023.

In addition, the prospects for investors are positive, in the conditions in which the yield level rose by 0.25%, in the first quarter of the year, compared to the same period of 2022, up to 7.5%.

At the same time, the rent value for shopping centers and for locations on the main commercial arteries of the cities was 75 euros/sq.m./month, respectively 50 euros/sq.m./month in the case of the second category.

A volume of 320,000 sqm of retail spaces is expected to be delivered by the end of the year, both in the main regional centers and secondary cities. Of these, no less than 74% of the areas under construction are retail parks.

SEE ALSO: Chinese retailer Mumuso opens its fourth mono-brand store in Romania

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