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A.T.
Demand for commercial space has been dropping on most markets as consumers are cutting costs and the unemployment rate is rising. Emerging or developing markets have been the most severely affected, according to the latest Retail Global Report by CB Richard Ellis.
Buenos Aires suffered the most severe decline in the value of rents (37%), followed by Warsaw (33%) and Washington D.C. (26%). Bucharest followed the global trend on the commercial space market, suffering a 30% year-on-year setback in the first three months of the year, according to Luiza Moraru, head of the Commercial Department of CB Richard Ellis Eurisko. In her opinion, the current market context is a good opportunity for retailers to re-evaluate their current spaces and focus on prime property capable of ensuring a constant cash flow.
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