Industrial and logistics leasing transactions in Romania totaled approximately 450,000 sqm in the first nine months of 2026, down around 30% from the same period last year. Despite the decline, activity remained close to the 10-year average and more than 40% above the 2017-2019 average.
“It is important to put these figures in the context of 2025, which was a record year for Romania, with almost one million sqm of reported leasing transactions,” said Victor Coșconel, partner and head of leasing for office and industrial agencies at Colliers.
“Interest in Romania remains strong, both for manufacturing and logistics, but companies are more cautious given the current international context, and decision-making is taking longer.”
Bucharest-Ilfov accounted for nearly 60% of national leasing activity, with approximately 265,000 sqm transacted. This represented a 41% decline from the 448,000 sqm recorded in the first nine months of 2025. Meanwhile, markets outside the capital were more resilient, with leasing volume falling by less than 10%, from approximately 204,000 sqm to 186,000 sqm.
The completion of southern sections of Bucharest’s A0 beltway has increased interest in logistics locations east and south of the capital. Colliers expects infrastructure projects to have a similar effect elsewhere, identifying Moldova as an area with growth potential.
According to the same source, more than 300,000 sqm of modern industrial and logistics space was delivered nationwide during the first nine months, bringing Romania’s total leasable stock above 8.3 million sqm.
Among the largest projects delivered this year are the 56,000 sqm warehouse developed by CTP in western Bucharest for LPP and the roughly 46,000 sqm project developed by VGP north of the capital. Other projects of a similar size are due to be delivered over the next two to three quarters, Colliers said.
Meanwhile, prime rents for well-located properties remained between EUR 4.5 and EUR 5 per sqm per month, although deals were more likely to close near the lower end of that range. Vacancy rates remained below 10% in most areas.
“Romania’s market is evolving within a relatively balanced European context. At EMEA level, the vacancy rate stood at 5.8% in the second quarter, after remaining slightly below 6% for more than a year. At the same time, development activity has slowed, reducing the risk of oversupply. Regional data confirms this trend. At mid-year, the Colliers index for industrial and logistics space under construction was 16.5% below last year’s level, while the index for deliveries was down 15.1%,” reads the press release.
“Prime rental growth has also moderated, with the regional index 3.6% above last year’s level at the end of the second quarter, compared with annual growth of 6.1% a year earlier. Over the next 12 months, 70% of the markets analysed by Colliers expect rents to remain largely stable.”
According to the same report, manufacturing accounted for approximately 28% of industrial and logistics demand in the first half of 2026. Investment in machinery and equipment also increased by more than 18% in volume terms over the same period.
“The market’s evolution points to a normalization following the record year of 2025, with greater selectivity and a more measured pace of decision-making, rather than a structural shift,” Victor Coșconel said.
Colliers expects several more quarters of slower activity if external uncertainty persists but said stabilizing consumption, manufacturing investment, and infrastructure development could support a more active market in 2027.
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