December 22nd, 2009

Váci utca rents again top Budapest retail market in CBRE survey

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Rents on the northern part of Budapest’s Váci utca are the most expensive in Hungary’s retail market, writes vg.hu, based on a recent market analysis by CB Richard Ellis (CBRE).

But with rates running at €60-€80 per square meter per month – or less than a tenth of comparable retail space in New York – such space is not much more expensive than that in the best shopping malls in the capital, noted Gábor Borbély, leading Budapest analyst of CBRE.

New York is still the world’s most expensive retail market, despite rents falling 25% in the past 12 months, the study revealed.

According to CBRE, the most expensive shopping street in Central Europe is still Vienna’s Kohlmarkt, where monthly rents are between €220-€245 per square meter, while Váci utca trailed other leading high streets among other CEE countries, notably Prague’s Na Příkopě.

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  1. JD says:
    December 22, 2009 at 10:16 am

    Well what do you expect, you’re gonna have to expect to pay for a ringside seat to see all the prostitutes and pimps.