Romania's industrial and logistics market maintained positive momentum in the first half of 2026, with leasing activity accelerating in Q2 despite a challenging macroeconomic environment, according to the Romania Marketbeat Industrial Q2 2026 report published by Cushman & Wakefield Echinox. Total modern stock reached 8.14 million sqm at the end of June, with approximately 4 million sqm located in Bucharest and its surrounding area, while the nationwide under-construction pipeline stood at 532,000 sqm.
Completions in Q2 were concentrated in Bucharest, where VGP delivered VGP Park Bucharest A3 (45,000 sqm) and VGP Park Bucharest A2 (33,000 sqm), both designed for multiple occupiers. Major projects currently under construction include GARBE Park Bucharest (61,000 sqm), CTPark Bucharest West (60,000 sqm), WDP Park Dragomirești (58,000 sqm), WDP Park Ștefănești (54,000 sqm), a new 50,000 sqm building within CTPark Bucharest West for Leroy Merlin, and ELI Park Bucharest (36,000 sqm).
Total H1 take-up reached 569,000 sqm, up 11% on H1 2025, with approximately 329,000 sqm transacted in Q2 alone. New demand accounted for 58% of the total volume. The nationwide vacancy rate rose to 6.7%, while Bucharest recorded 6.3%, largely reflecting recent speculative deliveries. Among the largest Q2 transactions were FM Logistic's pre-lease of 10,300 sqm in CTPark Bucharest, Novaintermed's lease of 6,300 sqm in VGP Park Bucharest A3, Lift Banat's lease of 5,900 sqm in VGP Park Timișoara A1, and Yusen Logistics' renewal of 5,700 sqm in P3 Bucharest A1. Bucharest generated the largest share of demand at 386,000 sqm in H1, while Timișoara recorded take-up of 73,600 sqm and Ploiești, with a stock of 574,500 sqm, maintained a vacancy rate of just 0.8%.
"The H1 results confirm that Romania's industrial and logistics market remains one of the most dynamic segments of the commercial real estate sector. Demand continues to be supported by companies active in logistics, retail, distribution and manufacturing. Another positive sign is the return of speculative developments, following several years during which most new projects were launched only after securing a high level of pre-leasing. The direct consequence has been an increase in the national vacancy rate to 6.7%, from 5.4% at the end of last year. However, we consider this a healthy evolution, as it helps rebalance supply and demand while offering occupiers a broader range of options for expansion or optimization, without affecting the market's solid fundamentals," said Ștefan Surcel, head of industrial agency at Cushman & Wakefield Echinox.
Prime rents increased slightly in Q2 2026, reaching €4.80 per sqm per month in Bucharest, while remaining largely stable across regional hubs at between €4.30 and €4.65 per sqm per month. The upward movement reflects continued construction and financing cost pressures, as well as limited availability of modern space in several established submarkets, with further gradual rental growth expected in coming quarters.
