Major real estate investors in Romania expect rents to continue rising in 2026, particularly in the office segment, while demand for new spaces is set to stabilize rather than expand, according to the latest “Real Estate Investors Sentiment Barometer” published by Cushman & Wakefield Echinox. 

The study, now in its fourth edition, surveyed senior executives from local, regional and global investors and developers with a combined real estate portfolio in Romania exceeding EUR 15 billion, accounting for roughly half of the modern commercial real estate stock.

Vlad Săftoiu, Head of Research at Cushman & Wakefield Echinox, commented: “Investors generally anticipate a period of market stabilization, with limited forecast of sharp rental, demand and value growth, factors which suggest that Romania remains an attractive destination, with conditions that support growth and investment on all market segments, even if a number of challenges persist.”

Most respondents expect office rents to rise over the next 12 months, with 56% forecasting growth and only 5% anticipating a decline, signaling continued confidence in the sector’s long-term trajectory.

Expectations in the industrial and logistics segment have moderated after strong optimism in recent years. While 36% of respondents still expect rental growth, a majority now foresee stability, suggesting the market is entering a more mature phase, according to the report.

Retail rents are also seen as broadly stable, with cautious optimism driven by steady demand and post-pandemic normalization.

Investors cited fiscal changes, geopolitical developments, and macroeconomic uncertainty as the main factors influencing occupancy costs and demand. Despite these challenges, sentiment remains positive, with more than half of investors planning to expand their portfolios in 2026. Industrial and logistics assets remain the most attractive, while alternative segments such as hotels and residential projects are gaining interest. 

According to the same report, Bucharest and the secondary markets consolidated their positions as the preferred investment destinations. 72% (compared with 77% in 2024 and 66% in 2023) of respondents indicate the capital as their main location for new investments, while 34% (31% in 2024 and 24% in 2023) are actively targeting tertiary locations (cities with less than 200,000 inhabitants). Secondary cities are also a very attractive destination for 68% of respondents.

The market outlook remains steady, supported by consistent occupier activity and a development pipeline of over 800,000 square meters of office, industrial, and retail space expected to be delivered over the next two years.

The Romanian real estate investment market has been very consistent during the last decade, with a cumulative transaction volume exceeding EUR 8 billion since 2016.

irina.marica@romania-insider.com

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