
Foreign direct investments (FDI) in Romania's real estate and construction sector more than tripled between 2014 and 2024, increasing by €15.1 billion to reach €21.6 billion by the end of last year. The sector's share of total FDI stock rose from 10.6% to 17.3%, according to National Bank of Romania (BNR) data analyzed by Cushman & Wakefield Echinox.
Foreign capital contributed to expanding modern real estate stock from approximately 5 million sqm in 2014 to nearly 17 million sqm at the end of 2024, with around 70% owned by foreign investors. The total FDI stock reached €125 billion in 2024, with real estate and construction among the top recipients of net foreign capital inflows last year, gaining €651 million compared to the previous year.
Four sectors concentrate 86.6% of total net FDI stock: industry (37.1%), construction and real estate transactions (17.3%), trade (17.2%), and financial intermediation and insurance (14%). Between 2014 and 2024, industry saw a modest 54.4% increase, while trade and construction both tripled their FDI stock. Financial intermediation grew by 123%.
"The real estate and construction sector continues to be one of the most stable and attractive industries for foreign investors, even in a context of economic and geopolitical uncertainties," said Bogdan Sergentu, Head of Valuation & Consulting at Cushman & Wakefield Echinox. "Yields for prime assets in Romania are 1-2 percentage points above reference values from most Central and Eastern European countries, representing a competitive advantage."
Total FDI flows in Romania were €5.6 billion in 2024, down 17% from the previous year due to global uncertainties and domestic vulnerabilities including modest economic growth, a deepening budget deficit, and a politically sensitive electoral context.