Wednesday, 28 October 2026
Romania’s industrial and logistics property sector recorded a sharp increase in new warehouse completions during the first nine months of 2026, while leasing activity remained slightly below the previous year’s level. Developers completed 334,500 sqm of industrial accommodation between January and September, more than 60% above the corresponding period of 2025, according to research by Cushman & Wakefield Echinox. The additional space brought the country’s modern industrial and logistics property stock to approximately 8.17 million sqm at the end of the third quarter.
Construction activity was particularly concentrated between July and September, when approximately 133,000 sqm of new space entered the market. This represented an increase of 54% compared with the second quarter and 15% compared with the first quarter. The largest completion was a 111,600 sqm warehouse at CTPark Bucharest West, occupied by Polish clothing retailer LPP, which operates the Reserved, Sinsay, Mohito, House and Cropp brands. A further 21,000 sqm was completed at MLP Bucharest West during the same period.
Bucharest accounted for approximately half of Romania’s existing industrial and logistics accommodation, with a total of 4.03 million sqm. The capital also recorded 279,100 sqm of completions during the first nine months, substantially more than any other market. Outside Bucharest, Timișoara had the second-largest industrial property stock at 807,700 sqm, followed by Ploiești with 574,500 sqm, Brașov with 510,500 sqm and Cluj-Napoca with 447,000 sqm. These figures underline the considerable difference in market size between the capital and Romania’s principal regional industrial centres.
Demand for industrial accommodation weakened during the third quarter, with approximately 156,000 sqm leased, compared with 329,000 sqm between April and June. Nevertheless, total leasing during the first nine months reached 725,300 sqm, representing a decline of only 3% compared with the equivalent period of 2025. New leasing transactions accounted for approximately 395,000 sqm, or 55% of the total, while Bucharest and Timișoara together represented around three-quarters of the space transacted nationwide.
The national vacancy rate stood at 5.5% at the end of September, although availability differed considerably between individual cities. Bucharest recorded vacancy of 4.4%, compared with 6.5% in Brașov and 7.4% in Cluj-Napoca. Timișoara had a higher rate of 12%, while Arad recorded 21.4%. At the opposite end of the market, Ploiești reported vacancy of just 0.8%, and the surveyed stock in Pitești was fully occupied. The differences indicate that the availability of industrial premises varies substantially between regional locations, even when national figures suggest relatively limited vacant space.
A further 560,200 sqm of industrial and logistics accommodation was under construction across Romania at the end of the third quarter. Approximately 447,400 sqm, equivalent to almost 80% of the total, was concentrated around Bucharest. Other developments were underway in Iași, with 40,000 sqm, Arad with 31,500 sqm, Deva with 15,300 sqm, Sibiu with 15,000 sqm and Cluj-Napoca with 11,000 sqm. The concentration of construction around the capital means Bucharest is expected to account for a substantial proportion of the country’s additional industrial space as these projects reach completion.
Among the larger developments underway were 61,700 sqm at CTPark Bucharest West, 61,000 sqm at GARBE Park Bucharest and 60,900 sqm at VGP Park Bucharest East. WDP was developing 58,200 sqm at its Dragomirești property and 54,000 sqm at Ștefănești, while ELI Park Bucharest accounted for another 36,000 sqm. These projects form part of the current construction pipeline rather than completed accommodation, and their delivery schedules and subsequent occupancy will influence the amount of available space entering the market.
Industrial rents in Bucharest showed little movement during the third quarter, with the highest rents for modern warehouse accommodation remaining at approximately €4.80 per sqm per month. Regional markets recorded some increases, bringing rents for comparable properties into a narrower range of €4.50 to €4.65 per sqm per month. The research indicates that construction expenditure and financing costs continue to influence landlords’ rental expectations, limiting the scope for reductions despite slower leasing activity in some locations.
The figures point to a market in which construction is increasing more rapidly than occupier demand, although the national vacancy rate remains relatively low. The substantial differences between regional markets suggest that future performance will depend on local tenant requirements, the amount of new accommodation delivered and the proportion of projects completed for identified occupiers. With more than half a million square metres under construction, the relationship between additional supply, leasing activity and rental levels will be an important factor in Romania’s industrial property market during 2027.
