Romania's modern retail market exceeded 5 million sqm in 2025, following deliveries of approximately 190,000 sqm of new retail space, around 20% above the five-year average, according to Colliers' annual report.
After a decade of growth, the market enters a consolidation phase in 2026 amid a more moderate economic environment, but with deliveries estimated at around 240,000 sqm.
Romania continues to have less modern retail space per capita than other regional markets, indicating development potential, particularly in regional cities. The most significant delivery in 2025 was in Iași, where Mall Moldova, developed by Prime Kapital / MAS REI, was extended, adding approximately 59,000 sqm following refurbishment of the former Era Shopping Center. In Arad, the Agora Mall project, with 35,000 sqm, returned to the market after renovation.
From a demand perspective, 2025 was more subdued compared with recent years, amid a temporary decline in purchasing power and slower consumption. Real wages fell by approximately 5% as of November 2025 compared to the previous year, while non-food retail sales were 3% lower in November. "Overall, 2025 was a balanced year for the retail market, with deliveries across the country and a clear diversification of retail formats," explains Simina Niculiță, Director | Partner | Retail Agency, Colliers Romania.
Several new brands entered the Romanian market in 2025, including Sports Direct, Action and Wendy's, while 2026 will see new entrants such as BIPA, Lululemon and Mr. D.I.Y. Physical stores slightly outperformed online retail, with non-food sales increasing by 3.5% in the first 11 months of 2025, compared with growth of just 0.3% online.
"Shopping centres maintained high occupancy levels in 2025, and new projects were generally well absorbed by the market, including in smaller cities," adds Liana Dumitru, Director, Retail Agency, Colliers. For 2026, Colliers anticipates a more measured market pace, with deliveries of approximately 240,000 sqm expected, potentially making it the most active year since 2011.
