European investors continue to lead commercial real estate investment across the continent, accounting for 48% of activity in Q1 2026, according to BNP Paribas Real Estate data. American investors follow with 31%, while Asia Pacific investors represent just 7% and Middle Eastern investors 2%.
Cross-border investment in Europe reached €15.1 billion in Q1 2026, while domestic European investment totalled €21.1 billion. "Europe is strengthening its position as the main driver of real estate investment on the continent, in a context where European capital remains active and focused on markets with solid fundamentals," said Nicolae Ciobanu, Managing Partner at Fortim Trusted Advisors.
American investors have adopted a more selective approach, focusing primarily on opportunities in Sweden, Spain, and Poland. European capital dominates transactions, accounting for more than two thirds of investment volume, while non-European capital remains cautious about financing costs and market predictability.
In Romania, regional investors are becoming more prominent as the market requires greater caution due to macroeconomic conditions. While yields remain attractive, investment decisions are becoming more selective, with capital directed toward well-positioned assets with stable income and low operational risk. CEE investors, wealthy families, and opportunistic funds are actively seeking higher returns than available in Western Europe.
"Romania remains on investors' radar, but we are no longer talking about broad-based investment appetite. Over the next 12-24 months, we will likely see a market dominated by selective transactions, more active local and regional capital, and investors looking for well-founded opportunities," said Ștefan Oană, Head of Capital Markets at Fortim Trusted Advisors.
