The Romanian real estate investment market closed the first three quarters of 2024 with transactions totaling almost EUR 650 million, a threefold increase compared to the same period last year. According to Colliers’ Q1-Q3 CEE Investment Scene report, the surge was driven mainly by industrial and retail assets.

At a regional level, investment volume grew by around 24% year-on-year, with Romania recording the strongest performance among the six largest economies in Central and Eastern Europe (CEE-6), namely Bulgaria, Czech Republic, Hungary, Poland, Romania, and Slovakia. 

Colliers consultants predict that the real estate market outlook remains solid, driven by rising transaction volumes, price stabilisation and capital inflows, suggesting improved conditions through to the second half of 2025, barring any major global disruptions.

Across the CEE-6 region, total investment volumes reached EUR 5 billion in the first three quarters of 2024, reflecting the recovery of European and global markets after a slower 2023. Colliers forecasts year-end investment volumes to reach between EUR 7 and 7.5 billion, around 30% below the 10-year average. 

Results varied widely across the region, from a 63% decline in Slovakia to a remarkable 190% increase in Romania. Notably, Romania now accounts for roughly 13% of total activity within the six countries, up from single-digit percentages prior to the pandemic, the report said.

Robert Miklo, Director of CEE Investment Services at Colliers, commented: “Regional investment increased by 24% year-on-year, but remains 37% below 2022 levels. A broader recovery is expected by 2025, subject to economic stabilisation, inflation control, and interest rate trends. Romania had the strongest percentage growth of investment volumes in the region by far in the analyzed period and we expect sustained future interest in our market also next year, not least because of the attractive investment yields offered compared to most other CEE markets.”

In Romania, industrial and retail assets dominated transaction activity for the second year in a row, marking a significant shift from previous years when office assets were the main focus. Across the CEE region, the industrial and logistics as well as office sectors each accounted for 29% of transaction volume in the first nine months of 2024, followed by retail at 26% and residential at 12%.

Bucharest offers some of the highest investment yields in the region, with prime assets yielding 7.5% for industrial and office and 7.25% for retail.

Given current market conditions, Colliers experts estimate regional transaction volumes could exceed EUR 10 billion in 2025.

irina.marica@romania-insider.com

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