Romania's modern retail stock reached 4,859,000 sqm by the end of Q2 2026, with retail parks accounting for approximately 23% of this area. Deliveries in H1 2026 totalled 84,000 sqm, including the expansion of Arena Mall Bacău, Phase 1 of Urbano Shopping & Living in Cluj-Napoca, and new retail parks in Oradea, Breaza, Bran, and Brașov. A further 68,000 sqm are under construction with delivery scheduled for H2 2026, including ARIA Shopping Centre, One Gallery, and Cometex retail parks, bringing the estimated full-year total to 152,000 sqm. Looking further ahead, nearly 300,000 sqm of new space is in the planning and construction phase for 2027–2028, with major projects including the 120,000 sqm mixed-use Rivus project in Cluj-Napoca, expansions of Promenada Mall Bucharest and Palas Iași, and M Park Galați.
Romania continues to attract international retailers. In Q2 2026, lululemon opened its first store in the country, Dansk entered the market, and wagamama announced plans for local expansion. Existing retailers such as Primark, Action, Rituals, and Elisabetta Franchi continued to expand their networks. The transaction between Dedeman and Carrefour was also concluded. Prime rents remained stable: shopping centres at €87.00/sqm/month (up 2.35% year-on-year) and prime high street locations at €65.00/sqm/month (up 18.18% year-on-year), with upward pressure on premium Bucharest locations such as Calea Victoriei driven by F&B demand.
The Romanian real estate investment market reached €253 million in H1 2026, a 35% decline compared to the same period last year, though the number of transactions held steady at 16 versus 17 in H1 2025. In Q2 2026, total investment volume amounted to €102 million, with retail attracting approximately 80% of invested capital (around €81 million). Two major retail transactions brokered by CBRE marked the quarter: the NEST Portfolio retail parks in Moineşti and Miercurea Ciuc were acquired by Czech investor Star Capital Finance from RC Europe, and Winmarkt Ploiești was divested by Italian group IGD and secured by Dolphin Invest. Other transactions included GP Plaza, acquired by Square 7 / M Core, and end-user purchases such as Jumbo Militari and Brico Depot stores.
Yield compression was recorded in June 2026 across the retail segment: prime shopping centres decreased by 10 bps to 7.65%, retail parks and regional centres decreased by 15 bps to 8.10% (with prime retail parks at 7.75%), and secondary retail parks decreased by 25 bps to 8.00%. Key macroeconomic indicators show GDP growth estimated at 0.6% for 2026 and forecast at 2.2% for 2027, inflation at 8.8% in 2026 dropping to a projected 5.5% in 2027, and unemployment at 5.9% in 2026 with a forecast decline to 5.4% in 2027.
"Despite a complex macroeconomic and political landscape, the fundamentals of the Romanian retail market remain solid, reaffirmed by sustained developer appetite, the continued expansion of international brands, and the resilience of domestic consumption," the CBRE Romania research team concludes. The forward transaction pipeline points to a recovery in H2 2026, with transactions in advanced stages exceeding €800 million in total value, driven by large-ticket deals in the retail and logistics sectors, alongside ongoing negotiations for office buildings, other retail assets, and hotels in Bucharest.
