Thursday, 5 March 2026
Cushman & Wakefield Echinox’s valuation department assessed real estate assets with a combined leasable area of approximately 7.8 million sqm in 2025, with a cumulative value exceeding €7.7 billion. Activity levels increased moderately compared with 2024.
According to the company, the market environment in 2025 was marked by structural adjustments and a widening gap between prime and secondary assets.
Around half of the valuation assignments were related to bank loan guarantees, followed by financial reporting mandates (25%), taxation purposes (15%) and other uses. In revenue terms, financial reporting accounted for approximately half of total income, reflecting the larger portfolio mandates typically involved in this segment. Bank-related valuations represented about one quarter of revenues.
Real estate values in Romania did not move uniformly in 2025. Overall capital values increased by an estimated 5–10%, but differences between high-quality properties and older assets became more pronounced.
Prime properties in established locations, particularly those meeting energy efficiency and ESG standards, generally maintained their value or recorded modest gains. In contrast, older buildings lacking modern certifications or requiring significant upgrades saw downward adjustments, reflecting higher compliance costs and increasing obsolescence risks.
The industrial and logistics segment remained comparatively stable, supported by domestic demand and infrastructure development. Convenience retail assets also maintained relatively steady values.
The office sector continued to face challenges, especially secondary properties. Factors affecting this segment included financing conditions, uncertainty related to hybrid working patterns and ongoing planning restrictions in Bucharest.
The consultancy expects market values to stabilise in 2026, with the possibility of moderate growth in the second half of the year, depending on monetary policy developments and potential yield adjustments.
Selective investment opportunities may emerge, particularly in value-add strategies and in secondary and tertiary cities benefiting from infrastructure improvements.
Bogdan Sergentu, Head of Valuation at Cushman & Wakefield Echinox, said the market in 2025 demonstrated a clear differentiation between asset types, with quality, energy performance and income stability playing a more significant role in determining value than in previous years.
