The Romanian land market totalled around €450 million in 2024, a figure similar to 2023, with the residential sector generating the highest volume of transactions, according to estimates by Colliers Romania.
Market demand covered various sectors such as residential, retail, hotels, medical, industrial, energy, or agri-business. Bucharest and the metropolitan area dominated the market, generating 80% of the transaction volume, with the residential sector accounting for 70% of all deals.
“In Bucharest, as well as in a few large regional cities, administrative blockages significantly delayed transactions. Many purchase decisions were conditioned by sales from the existing portfolio, amid a strategy change. Some investors gave up land that no longer matched current business plans, focusing on acquisitions aligned with new objectives. Administrative blockages and the difficulty of obtaining building permits continue to be the main factors slowing down the market pace," says Sînziana Oprea, Director of Land Agency at Colliers Romania.
Additionally, there was growing interest for locations near Bucharest and for lands with building permits or urban zoning plans (PUZ), due to the possibility of avoiding urban planning blockages, point out Colliers consultants.
Outside Bucharest, demand for residential land increased, especially in cities like Timișoara, Brașov, and Constanța, where mixed-use projects are also planned. Retail focused on commercial parks and strategic expansions, while many large plots of land outside cities, previously targeted for residential use, attracted investors from renewable energy, logistics, and agri-business due to more affordable prices.
Colliers experts also indicate that Romania's long-term development potential will attract new international investors, while domestic investors will remain very active and continue to secure strategic assets.
