Thursday, 15 October 2026
Romania’s commercial property investment market recorded approximately €654 million in transactions during the first nine months of 2026, exceeding the total investment volume achieved throughout 2025. The latest figures reveal a significant change in the geographical distribution of capital, with regional markets attracting more than two-thirds of investment activity. Bucharest-Ilfov accounted for just 29% of the national total, compared with 53% during 2025, as substantial retail acquisitions increased investment activity outside the capital.
According to Crosspoint Real Estate, western Romania attracted more than €217 million between January and September, representing approximately 33% of total investment volume. Bucharest-Ilfov followed with nearly €190 million, while eastern Romania recorded investments exceeding €100 million, equivalent to around 17% of the market. Southern and central regions each attracted approximately €70 million. The figures indicate growing investor interest in regional property markets, although several large acquisitions can significantly influence the geographical distribution of investment during a relatively short period.
International investors accounted for 83% of completed transaction value, with Middle Eastern capital representing the largest contribution at 44%, equivalent to approximately €288 million. European investors generated another 39%, while Romanian buyers accounted for 17%. The composition differs considerably from 2025, when domestic investors represented a larger share of investment activity. However, the substantial Middle Eastern contribution may reflect the completion of several major acquisitions rather than a broader increase in the number of investors entering the market.
Retail properties dominated investment activity, accounting for approximately 61% of total transaction volume, or nearly €400 million. Acquisitions involving shopping centres, retail parks and portfolios across multiple locations contributed to the sector’s leading position. Office properties represented approximately 33% of investment volume, while industrial and logistics assets accounted for around 7%. The relatively limited industrial contribution reflected the absence of major portfolio transactions rather than necessarily indicating weaker investor interest in the sector.
The average transaction value exceeded €40 million, approximately double the level recorded during the corresponding period of 2025, highlighting the importance of larger acquisitions in supporting overall market performance. Investment yields remained broadly stable, at approximately 7.5% for prime office and retail properties and between 7.5% and 7.75% for industrial assets. These levels suggest that investors continue to prioritise established income-producing properties while maintaining relatively cautious pricing expectations.
The recovery is particularly notable compared with Romania’s subdued investment performance in 2025, when Crosspoint estimated total annual transactions at approximately €536 million. Investment completed during the first nine months of 2026 has already exceeded that figure by around €118 million, or 22%. Oana Popescu, Partner and Head of Residential and Investment Market at Crosspoint Real Estate, attributes the changing investment distribution primarily to stronger activity in regional retail markets, alongside renewed participation by international buyers.
The final quarter could bring further growth if transactions currently under negotiation are completed before December. Crosspoint estimates that Romania’s annual commercial property investment volume could approach €1 billion, although reaching that level would require approximately €346 million in additional acquisitions during the final three months. The forecast therefore remains dependent on the completion of several substantial transactions.
The latest figures indicate that Romania’s commercial property market is becoming less concentrated geographically, with regional retail assets attracting a greater proportion of investment capital. Bucharest remains an important investment destination, but the growing contribution of transactions outside the capital is changing the composition of the national market. Whether this represents a lasting shift in investor preferences will depend on activity over subsequent quarters.
