Romania’s land market remained stable in 2024, with transaction volumes close to the 450 million euro recorded in 2023, despite an economic and political climate marked by uncertainty, according to Colliers’ annual report.
Bucharest and its metropolitan area continued to be the main hub for transactions, accounting for 80% of the total, while residential projects made up 70% of these deals. Land plots with approved urban planning documentation preserved their value, whereas properties requiring such approvals saw declines, in some cases by as much as 30-40%.
Land transactions for retail projects accounted for about 20% of total market volume, including the closure of long-term deal. The office market remained dynamic, supported by transactions such as One United’s acquisition of Romaero, along with several strategic land purchases for potential future developments. Investor interest was particularly strong in key cities such as Timișoara, Brașov, and Constanța, as well as the broader coastal region.
The land supply continued to expand in 2024, driven by sellers looking to optimize their real estate portfolios. Even some active investors divested from less strategic land and shifted their focus to specific market segments. Bucharest’s metropolitan area has become increasingly attractive, particularly near A0 highway junctions.