Bucharest's Historic Centre, delimited by streets such asLipscani, Strada Franceză, Smârdan, Şelari or Stavropoleos, is theonly area in Bucharest where rents are going up, with ownersgetting as much as 100 euros per square metre.
The main reason investors are willing to pay between 3,500 eurosand 10,000 euros for a 100-sqm space is the high traffic alreadysecured by the over 100 bars and restaurants opened over the pasttwo years in the pedestrian streets of the centre.
"The Old Centre area will beat Magheru or Calea Victoriei this yearand will become the number one in terms of rents if the currentupward trend continues," Dragoş Petrescu, owner of Caru' cu Bere,City Grill or Hanu' Berarilor restaurants, with 12.4m-euro turnoverin 2009, told ZF.
The lowest rent level per square metre stands at 30 euros,according to specialised websites, but on the streets that wererenovated by the city hall and owners, where tens of restaurantsand coffee shops have opened, rents reach 50-100 euros per squaremetre.
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