The total modern retail stock in Romania amounts to 3.74 million sq. m at the end of H1 2019. Most of the retail stock is represented by shopping centers – 57%, followed by retail parks – 35% and commercial galleries – 8%.
Romania recorded a solid 5.0% GDP growth in the first quarter of 2019, the second highest in the European Union and more than three times higher than the EU average. Retail sales increased 6.8% y-o-y during the first six months of 2019, a robust increase that is expected to continue going forward. Unemployment is low, reaching 3.9% in May 2019, in comparison with 4.3% in May 2018. The average net income saw an impressive increase – 15.8% y-o-y during the first five months of this year.
The owners of the dominant shopping centers in Romania are experiencing a flourishing period, with occupancy rates close to 100%, as most tenants report record sales.