The first Residential panel held at CEDER 2026 showed that the definition of luxury in Romania’s evolving residential market is undergoing an essential transformation. While premium real estate was once defined by prestigious addresses and expensive materials alone, the experts invited to take part in the panel suggest that the market has matured, shifting the focus toward personal well-being, time efficiency, and integrated communities.

Jan Demeyere, Architect and Co-founder of SPEEDWELL, emphasizes that luxury has moved beyond mere aesthetics, like marble or wood finishes. He argues that true luxury is now defined by the quality of one’s daily life, stating: “When we talk about luxury, that’s something very personal. How do you define luxury? What is luxury living? … For me, luxury really is being able to find a job very close to where you are, even change jobs, is to be able not to commute for 3, 4, 6 hours to your job, so you still have free time with your family, with your friends. That’s very important. And also, to have access to nature. That’s for me, luxury.”

This sentiment is echoed by marketing experts who see luxury as “an emotional purchase” rather than a simple acquisition of property. Andreea Dumitru, Chief Marketing Officer at Hagag Development Europe, explains that modern buyers are highly informed and travelled, seeking a an experience that validates their status: “People are not just buying square meters of an apartment… They are looking to buy something that elevates their lifestyle. So, they look for [a] curated experience, they look for floor to ceiling heights, they look for privacy, for wellness, and all these services that they didn’t have until now.”

A critical component of this redefinition is the concept of “buying time.” Irina Caraene of CORDIA notes that for clients with budgets exceeding €200,000, the priority is “complete urban living without compromises”. This often manifests in the “15-minute city” concept, where amenities like work hubs, gastro bars, and playgrounds are all within immediate reach.

Ultimately, the dividing line between upper-middle and genuine premium residential property is no longer just price or location, but the “depth of the product”. As Răzvan Brasla, CEO of Cloud9 Residence, puts it: “The upper mid products, they are selling good homes, and the premium developers are selling a way of living”.

In conclusion, the panelists agreed that nowadays, luxury is less about what a building looks like and more about the ecosystem it provides for a healthy, efficient, and connected life.

Industry experts participanting in the second Office panel held at CEDER 2026 suggest that successful projects in the future 12- to 24-month timeframe will be defined by their ability to integrate technology, ensure deliverability, and prioritize the human experience over mere square footage.

According to Antoniu Panait, Managing Director of Vastint Romania, the rapid pace of technological evolution is now a fundamental divider. He argues that staying ahead of the curve on sustainability is no longer optional but a primary competitive advantage: “Evolution of technology in the last years, it’s exponential, it’s mind blowing how quickly it evolves everything and it starts to be applicable also in real estate. I think it’s all about getting as soon as possible carbon neutral, Paris-proof, and implementing as quick as possible new technologies. (…) I think this will be the differentiator between the old buildings and the new buildings”.

Practical execution is the second major differentiator. Bogdan Mărginean, Technical Subdivision Manager at Strabag, notes that the market is moving away from being impressed by “theoretical” beauty. Success will instead go to developers who can guarantee that a project is viable and sustainable in the long term: “I’m absolutely sure nobody or the market will (…) reward renderings, very attractive renderings. It will reward performance and performance from the predictive delivery of the project, first of all, of efficient leasing and sustainable operation”.

Dan Ungureanu of Renomia Gallagher emphasizes that mature risk management is what will attract cautious lenders. He suggests that the projects that move forward will be those led by teams that “have a very open mindset” and “a mature way of thinking”.

Finally, Florian Nițu, Managing Partner at Popovici, Nițu, Stoica & Asociații, points out that the most successful projects will treat office space as a service designed to foster employee happiness. He observes: “The most important element is that [of] office as a service, that delivers the so-called occupier wellbeing. And by occupier wellbeing you mean the happiness of the employees and partners of your tenant. If that’s in and if that wellbeing is combined with higher ethics, social responsibility undertakings (…) I’m absolutely convinced that this will be the successful project”.

Ultimately, the projects that succeed in the coming years will be those that transition from providing a commodity to delivering a high-performance, ethically grounded product.

One of the conclusions of the second Office panel held at CEDER 2026 was that the office development landscape is undergoing a fundamental shift, moving away from simple space-leasing models towards complex, service-oriented environments. This transition introduces significant legal and practical frictions.

According to Florian Nițu, Managing Partner at Popovici, Nițu, Stoica & Asociații, the success of mixed-use projects has made legal iterations far more intricate. He notes that the traditional “triple net” lease is a concept of the past, replaced by complex partnerships. Nițu explains: “In legal terms, successful as mixed means complex from a legal standpoint, because the benefits of a mixed-use project translate into complex obligations and complex legal iterations in the contracts that are signed. Office space means a lease agreement that is doubled by a service agreement”. Furthermore, permitting remains a primary friction point, particularly in markets like Bucharest. Nițu advocates for a “strong, firm” stance toward authorities, including using judicial instruments when necessary to push developments forward.

On the practical side, the industry faces a “structural problem” regarding project delivery. Bogdan Mărginean, Technical Subdivision Manager at Strabag, argues that developers often focus too much on optimistic renderings and not enough on the viability of execution. He highlights the friction caused by treating construction as a “downstream activity” rather than an integrated part of the design process from the start: “The biggest risk is not if we are able to design attractive buildings, office buildings. The biggest risk is if this project is really deliverable, it is financially deliverable, technically, operationally and within the expected time… Too often projects are designed in isolation, are optimized only on paper, from theoretical point of view and only afterwards tested if the market is taking them on. On execution capacity, procurement constraints… this will create by default (…) loops in redesign, additional cost, additional time”.

Adding to these frictions is a lack of economic visibility. Antoniu Panait, Managing Director of Vastint Romania, emphasizes that developers must be prudent because they cannot “foresee what will happen in the next few weeks, not next few years” regarding interest rates or taxes.

As highlighted by Dan Ungureanu, Business Development Leader CEE & CIS at RENOMIA Gallagher, this uncertainty is mirrored in the insurance sector, where lenders now demand more rigorous due diligence to ensure projects remain bankable, and developers have become more open to insuring their projects: “It’s about the global environment we’re living in. So, on one hand you have the lenders which are being more careful in what they put their money in, and of course they’re forcing somehow the market to get to upper level. But on the other hand, you have also the developers, and we are living in a mature market in which you have very powerful developers in the market. And of course, they’re coming with a lot of know-how brought by their group level, by their past experience, by their key people within the companies, which saw a lot of aspects happening.”

Ultimately, the projects that overcome these frictions will be those that prioritize integrated delivery models and a partnership-driven approach to both legal and construction challenges.

During the first panel held at CEDER 2026, dedicated to the bankability of Office developments, the panelists agreed that in the current real estate market, the concept of bankability has undergone a fundamental shift: while location and occupancy remain vital, financial institutions and tenants alike are increasingly prioritizing ESG (Environmental, Social, and Governance) elements and sustainability performance as non-negotiable pillars of a successful project.

Lenders are no longer just looking for a “green certificate” as a checkbox; they are diving deeper into the technical and operational reality of assets. Doron Klein, Group Deputy CEO of AFI and CEO of AFI Romania, notes a decisive trend in how banks approach financing: “It goes to more green elements that need to be incorporated in the project”, specifically highlighting the importance of the EU Taxonomy and comprehensive ESG reporting. For developers, these green credentials translate into direct financial benefits. Klein points out that in many regions, developers can “even get certain discounts in the spread, in the margin, financing assets with clear ESG component”. This “clear preference” from banks makes sustainability a core requirement for any project seeking competitive financing.

The push for ESG is equally driven by the tenant side of the market. Maria Jianu, Leasing Director at Speedwell, points out that, nowadays, the measurability of sustainability trends is key: “We’re all very fond of ESG. We’re all doing our best in this regard and we’re all striving to be the best in this domain. But what actually matters and what I’m seeing that tenants are looking after is results. What actually is going to impact my costs.”

Adinel Tudor, CEO of EVO Properties, also highlights the fact that it is no longer enough to have certifications: “simply having them, having a plaque on the wall that says LEED, BREEAM, whatever, it’s not enough anymore. (…) Which means that as a developer, you have to choose very carefully what amenities you implement in order to have your tenants happy and willing to remain for a longer period of time in your buildings.”

Andreea Cotigă of CPI Romania describes a “flight to quality or flight to experience over space,” where modern tenants are specifically inquiring about “ESG certification” and sustainable environments. Projects that fail to offer this integrated ecosystem—combining sustainability with high-quality services—struggle to convert inquiries into signed leases.

In a competitive landscape, ESG serves as a performance tool that enhances tenant retention and justifies premium positioning. Looking ahead, the failure to adopt a green philosophy represents a significant financial risk. Cotigă warns that building owners who “prioritize convenience and location over quality and sustainability performance” will inevitably “see their assets lose value”, while assets that manage to bring “ESG performances and superior experiences” will command the greatest market resilience.