Friday, 22 May 2026
The experts gathered at the second Residential panel held at CEDER 2026 remarked that the Romanian residential market is currently characterized by a high-pressure environment where rising construction, financial, and logistics costs are forcing developers, lenders, and buyers to recalibrate their expectations in a price-sensitive climate.
Lenders have responded to this climate with a “forensic” scrutiny of project fundamentals. Claudiu Bisnel, Managing Partner of Brisk Group notes: “From the lenders’ perspective, there is caution associated with what’s happening, (…) basically looking more closely to construction costs, looking more closely to the actual contractors that are being brought on the project, their technical capabilities, their robustness in terms of finance and so forth. And also, the quality of the equity that is put in place in terms of the project from the developer’s side.” Despite this, he concludes on an optimistic note: “overall, we are in a position where with proper governance, with proper tools in place, from our perspective as consultants, project cost management tools, projects can be managed and brought to very successful delivery.”
Transactionally, the market is moving away from outright land acquisitions. To mitigate the permitting and financing risks, developers are increasingly seeking joint-venture-style partnerships with landowners. Silviu Stratulat, Managing Partner at Stratulat Albulescu Attorney at Law explains: “It’s not a joint venture per se. It’s not, but it is sort of a partnership structured in a different way between the landowner and the developer, because both the landowner, but especially the developer wants to share the risk. And the risk is all across. It is a financing risk; it is a contractor risk. Of course, the financing risk is usually (…) assumed by the developer. (…) The shift is I don’t want to acquire the land anymore and then take over, in addition to basically the risk of development, that sort of investment, risk of that investment in the land, but I will share it with the landowner.”
Developers are caught between rising input costs and a price-sensitive, more cautious consumer base. Bogdan Letcă, CEO of Bog’Art Residential, emphasizes that while developers may absorb some of the “shocks” of cyclic downturns, final prices are likely to see a “bump” as developers cannot cope with elevated costs alone. However, he stresses: “a thing that you cannot compromise (…) is the product. Because as long as you are reputable and you have the branding on your side, even on harsh times and (…) stormy weather, you cannot compromise the product. You know, the reputation takes many years to build and can be lost instantly.”
