Apartments in downtown Zagreb will be turned into stores
12 December 2007
The latest study by consulting company Colliers showed that residents will be chased away from the downtown Zagreb by the market, i.e. big demand for business premises in retail. The consultants predict that the residents will leave the city centre and their apartments will be turned into stores. Similar scenario can be expected in other big cities in Croatia.
The study showed that retail premises in downtown Zagreb reached almost full occupancy. There is a big interest by major brands for renting stores in the city centre, but they require large premises, on several floors, which are scarce, as ¾ of premises are up to 55 square meters.
Average monthly rent for space in the city centre up to 200 square meters is EUR 80-120 per square meter and Colliers claims there is still room for price increase. Due to the lack of space downtown, international brands decided on shopping malls, which are very competitive price-wise, offering rent from EUR 40 per square meter.