Romania’s land market finished 2025 strong and is set for “active caution” phase, Colliers report says
Romania’s land market closed 2025 with an estimated transaction volume broadly in line with 2024 levels, and deals totaled nearly EUR 450 million despite political uncertainty and fiscal adjustments. The final months of 2025 showed strong transactional results.
In 2025, Bucharest accounted for around 60% of land transactions, down from 70–80% in previous years, against the backdrop of urban planning blockages in the capital and increased infrastructure investment nationwide. Investor interest has therefore expanded towards areas surrounding Bucharest and regional cities offering clear development prospects.
“The strong finish to the year confirmed robust demand for well-located land, and the competition between residential, retail, and industrial developers points to a market that is adapting and growing, not contracting. In this context, investors with liquidity and a long-term perspective see the current moment as a strategic opportunity to invest in land,” explained Sînziana Oprea, Director of Land Agency at Colliers Romania.
The residential sector remains the main driver of the market, generating approximately two-thirds of land transactions in Bucharest, primarily through residential schemes and mixed-use developments with a predominantly residential component, according to Colliers.
At the same time, large developers are extending their focus to new areas, including outside the capital, to diversify investments and better manage costs. Plots located in areas with valid/recently reactivated zoning plans (PUZs) have attracted heightened investor interest, given the need for predictability in permitting.
Retail accounted for around 20% of land acquisitions in Bucharest and its surrounding areas, with competition for prime locations remaining intense. Unlike the residential sector, which is largely dominated by local investors, retail continues to be supported by international players, alongside a growing number of Romanian investors with solid capital bases.
The industrial sector, including urban logistics and, selectively, data centers, has become increasingly active in the land market, competing directly with residential uses for certain plots. Interest is strongest in areas with newly completed or developing infrastructure, although industrial investors remain more price-sensitive, a factor that influences negotiations, according to Collier’s consultants.
Outside the capital, land transactions were split between residential and retail uses in roughly equal proportions.
Overall prices have remained relatively stable, although plots with clear permitting advantages in major cities have recorded premiums of 20 - 30% compared to non-permitted land. Certain areas with newly completed infrastructure have even seen prices double over the past two to three years, while competition among developers for prime and limited retail plots has also driven price increases of up to 15 - 20%.
For 2026, Colliers consultants anticipate a scenario of cautious optimism, supported by transactions initiated in 2025 and the continued rollout of infrastructure investments nationwide. While the actual completion of deals will depend on the evolution of the macroeconomic environment, 2026 is seen as a year of consolidation and preparation for a potential market acceleration in 2027 - 2028.
“We are seeing growing interest in flexible transaction structures, such as joint ventures, delayed payments/phased acquisitions, or various forms of partnership, which demonstrates the market’s ability to adapt to a more complex environment marked by caution and the need for risk control. These mechanisms allow investment activity to continue even in periods of restraint and are increasingly shaping how transactions are negotiated and closed,” concluded Sînziana Oprea.
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