Oslo high street retail rents climb in H1

Oslo recorded a 20% increase in prime high street retail rents over the last six months, according to the latest report from Colliers International.

The Norwegian capital saw the biggest increase across the EMEA region, with notable growth in prime high street retail rents also recorded in Paris (16.7%), Berlin (13.6%) and Copenhagen (10%) across the period.

In the shopping centre market, significant increases in retail rents took place in Moscow (9.8%), St Petersburg (7.1%) and Paris (6.7%). Both high street and shopping centre rents fell most in Sofia, Tirana and Kiev.

Gary Thursby, director of cross-border retail agency at Colliers International, said, 'The sharp increase in Oslo has been driven by the inflow of luxury retailers such as Gucci, Prada, Lacoste and Valentino.

'Budget retailers are also increasing their exposure in markets where they had previously had no or little representation, including TK Maxx in Germany and Primark in Holland and Belgium. The geographical spread of international demand is encouraging given the sporadic distribution of economic malaise across the EMEA regions.'