Romanian Investment Marketbeat H1 2026
Bucharest, March 2026: The valuation department of the Cushman & Wakefield Echinox real estate consultancy company reported solid activity levels in 2025, by assesing properties with a total leasable area of approximately 7.8 million sq. m and a cumulative value of more than €7.7 billion. The year was characterized by structural market adjustments and an increasingly pronounced polarization of real estate values.
The activity itself recorded a moderate increase compared with 2024, driven primarily by sustained demand for recurring valuations and continued investor focus on high-quality, income-secure assets.
From a volume perspective, most valuation reports were related to bank loan guarantees (50%), followed by financial reporting (25%), taxation (15%) and other uses.
In terms of revenues, financial reporting accounted for approximately 50% of the total revenues, while bank loans represented around 25%. This reflects the fact that financial reporting mandates often involve large, diversified property portfolios, generating higher volumes and service values.
In 2025, real estate values in Romania evolved in a polarized manner rather than experiencing uniform growth. Overall, capital values recorded moderate increases of approximately 5 – 10%, while the gap between prime and secondary assets widened further.
Well-located prime assets, energy efficient and ESG compliant, largely preserved their values or recorded slight appreciation, supported by sustained demand from both investors and occupiers. In contrast, older, non-compliant buildings – particularly those without green certifications or requiring substantial capital expenditures to meet regulatory and efficiency standards – were subject to downward value adjustments, reflecting higher compliance costs and an increased risk of functional obsolescence.
Industrial & logistics was the most resilient asset class in 2025, supported by domestic consumption, supply chain reconfiguration and ongoing infrastructure development. Convenience retail assets also showed strong adaptability and value stability.
On the other hand, the office sector remained the most exposed, particularly in the case of secondary buildings, amid elevated financing costs, uncertainty surrounding hybrid work models and continued urban planning constraints in Bucharest.
In 2026, we are expecting a stabilization of real estate values, with potential for moderate growth in H2, against a backdrop of a possible monetary policy easing and of a modest yield compression.
At the same time, 2026 is expected to offer selective opportunities, particularly in value-add investment strategies, as well as in secondary and tertiary cities benefiting from new infrastructure developments.
Bogdan Sergentu, Head of Valuation Cushman & Wakefield Echinox: “2025 clearly confirmed a polarization trend on the Romanian real estate market. Value is no longer driven exclusively by location, but increasingly by asset quality, energy efficiency and cash flow security. ESG-compliant prime assets remain liquid and attractive, while secondary properties are facing adjustment pressures. Looking ahead to 2026, we expect value stabilization and selective growth opportunities, particularly for well-located and refurbished assets, driven by a potential easing of the financing conditions.”
