Romanian Real Estate Market, H1 2026

Romania's real estate market in the first half of 2026 reflected a period of transition, marked by economic headwinds, selective investor appetite, and diverging dynamics across sectors. Investment activity slowed, though larger average deal sizes and a solid H2 pipeline point to a stronger finish to the year. Bucharest's office market showed strengthening genuine demand despite softer headline leasing, with a new development cycle finally taking shape. The industrial and logistics sector cooled from 2025's record levels but retained solid structural fundamentals, while the residential market regained momentum in the second quarter, with the year-end outlook shaped by the aftermath of the ANCPI cyberattack and the prolonged reduced VAT rate. On the land market, activity remained healthy, with planning certainty emerging as the key driver of both pricing and deal structuring.

Romanian investment market

Investment volume slowed to €311.6M, but average deal size rose 21% and the H2 pipeline points to a ~€800M full-year total.

Bucharest office market

Net take-up rose 18% as genuine demand strengthened; over 50,000 sqm of new supply is scheduled for delivery by year-end, opening a new development cycle.

Romanian industrial market

Demand cooled from 2025's record levels amid weaker consumption, yet stock approached 8 million sqm on steady supply growth and continued infrastructure investment.

Bucharest residential market

Demand rebounded in Q2 after a slow start; the ANCPI disruption and prolonged reduced VAT rate set the stage for an intense final quarter.

Bucharest land market

Healthy activity from both established and new players; prices for permitted inner-city plots continued to climb, with buyers increasingly conditioning deals on planning certainty.

For more information, please refer to the full report.