By the simple scrutiny of the number of luxury cars and villas, most of the companies who paid any interest at all in the Romanian market concluded that it has great potential. As analysts say, what Bucharest lacks so far is a destination for luxury. Bucharest doesn’t have a Fifth Avenue, neither a Bond Street nor a Montaigne Avenue.

The prime retail avenues in Bucharest are concentrated on 2 Boulevards: Calea Victoriei and Magheru-Bratianu. The latter is especially well positioned in terms of traffic as it runs as a North-South axis between two very crowded squares: Roman Square and Union Square. Currently, Magheru – Bratianu Bvd is the top rent high-street location, because of high traffic, both pedestrian and automotive, as well as the tenant mix but it is lacking parking spaces.

Retail areas such as Calea Dorobanti or Calea Victoriei with average rents of 130 euro/sqm/month do not fit the requirements of luxury companies neither in terms of privacy and exclusivity nor as accessibility, parking, visibility, fashionable vicinity is concerned.

There are only 5 commercial centers in Bucharest: Unirea Shopping Center, Bucharest Mall, Plaza Romania, City Mall and Jollie Ville. Other projects in the pipeline which are being developed: Colosseum, Cotroceni Park, Baneasa Business Center, Bucharest Plaza, Liberty Mall, Esplanada.

Bucharest historical center is cut in two by Bratianu Avenue and is being reconstructed today in keeping with the old fashion architecture. It will become the location that can attract high end brands and tourists. A Luxury Department Store close to the historical center seems to be the only way for Bucharest to become a reference point in the international luxury industry, according to many luxury retailers.