The commercial real estate investment market totalled approximately €525 million in 2025, and transaction volumes this year are projected to hit the €800 million mark, according to Colliers Romania data.
Following a 2025 defined by caution and the postponement of major deals, Colliers consultants anticipate a gradual recovery in investment activity.
Silviu Pop, Research Director Romania at Colliers, said: "If the domestic economy (including sovereign risk) continues to improve in 2026 or offers better medium-term perspectives, we may see favourable price developments for local real estate assets in H2 2026."
In the office sector, Bucharest could see new deliveries of approximately 45,000 sqm this year. This follows a 2025 where no new projects were completed—a first in recent decades.
Next year, the volume of new deliveries is expected to rise to 90,000 sqm. Colliers consultants note that the gap between premium and older buildings will widen, with market interest increasingly focused on well-positioned, energy-efficient projects.
Consequently, the office vacancy rate in Bucharest has reached 11.75%, though it remains significantly lower for new buildings or popular hubs.
The retail segment maintains stability, despite visible pressure on consumption. Developer interest is shifting towards secondary and medium-sized cities, where retail park projects remains attractive due to lower costs and high flexibility. According to developer plans, approximately 240,000 sqm of new commercial space will be inaugurated in 2026, marking the highest level since 2011.
In the industrial and logistics sector, leasing activity is expected to remain similar to last year, with a focus on increased demand from Asian companies. Meanwhile, high construction and financing costs may slow the delivery of new spaces, maintaining upward pressure on rents and favouring well-positioned projects tailored to medium-term tenant needs.
In the land market, transactions totalled approximately €450 million, driven by high demand from the residential and retail sectors. A significant signal for 2026 is the return of "new demand" observed over the past year—investors actively initiating acquisition processes rather than simply closing deals delayed from previous years.
In the residential segment, upward price pressures outweigh downward trends, particularly in major urban centres.
According to Colliers experts, the housing supply remains relatively low (especially in Bucharest due to administrative delays), which will exert upward pressure on prices.
