At the SEE Property Forum 2025 in Bucharest, leading voices from Romania’s residential real estate sector came together to shed light on how developers, investors, and buyers are adapting to a period of economic uncertainty, rising construction costs, and shifting consumer priorities. From the growing appeal of build-to-rent and integrated communities to the urgent need for regulatory reform, the panel offered a forward-looking view of a market that is evolving rapidly yet remains defined by strong fundamentals and an enduring demand for quality homes.
Opening the panel, moderator Gabriel Blăniță from Colliers set a dynamic tone, noting that today's residential market is "mixed and difficult, but for sure, an interesting one. We're here not just to analyse the current challenges but to look forward, drawing on each expert’s perspective to anticipate how the market might shape up in the next five years." His introduction reminded participants and audience alike that open dialogue and diverse viewpoints are essential in navigating times of economic uncertainty and regulatory transformation.
Alex Skouras, Managing Partner at Alesonor, reflected on over two decades in Romania’s property development, emphasizing the critical role of community in successful projects. "To truly comprehend the market, we must always zoom out and see the bigger picture; it’s about understanding not just the building, but the community we are shaping," Skouras stated. "Our greatest advantage has been engaging with thousands of families, learning about their real needs, and investing in quality developments that prioritise sustainable, integrated neighbourhoods over sheer numbers." Skouras detailed how developments like Amber Gardens pioneered green, community-driven projects outside Bucharest’s centre, advocating for open, connected neighbourhoods rather than exclusive, gated compounds.
Luciana Giurea, Head of Residential Division at AFI Romania, brought insight from the build-to-rent sector, illustrating how multifaceted approaches can bolster the industry’s resilience. "The build-to-rent market has seen remarkable success—within just four months, we reached leasing targets set for a full year," Giurea recounted. "Our strength is not only in amenities like coworking spaces and gyms but also in ensuring flexibility and security for tenants, backed by the reputation and stability of a major developer committed to long-term partnerships." Giurea highlighted the shift towards blending rental and for-sale projects, designed to meet the evolving lifestyles of Romanian residents.
Offering perspective from residential sales, Andreea Dumitru, CMO of Hagag Development Europe, addressed the enduring demand amid fiscal changes. "Despite announcements of VAT increases and rising construction costs, clients have gained clarity that prices for new dwellings will not decrease, prompting faster purchasing decisions," observed Dumitru. "Resilience in buyer demand and a shift from mere price sensitivity to quality-driven choices prove our market is maturing—what used to be called ‘mass market’ is now mid-market, reflecting a flight to quality that is redefining expectations across price segments."
As the conversation turned to buyer preferences, George Călin, Residential Sales Manager at Fortim Trusted Advisors, stressed the evolving needs of clients. "We are seeing a fundamental shift; buyers today are no longer focused solely on square meters or investment returns, but on lifestyle, integrated facilities, and green credentials," Călin articulated. "Our recent success demonstrates that targeting end users—by promoting integrated communities with amenities and robust public infrastructure—has become the decisive factor in driving sales and fostering lasting residential value."
Addressing the challenges of central city development, Bogdan Letca, CEO & Development Manager at Art Property Development, spoke candidly about bureaucracy and construction realities. "While building in central Bucharest comes with pride and strong demand, it is also fraught with regulatory blockages that delay projects and erode profitability," Letca explained. "We are in an unbalanced market where development bottlenecks cost both developers and end customers—improving predictability and streamlining regulations are crucial for sustaining high-quality growth across Bucharest and beyond."
Concluding the session, Blăniță synthesised the discussion’s main threads, remarking that "as the market becomes more demanding and sophisticated, success will hinge on our ability to nurture quality, integrated developments while advocating for a fair and predictable regulatory environment”
