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Investors from Western Europe, particularly from Austria, the Netherlands, Belgium, and the United Kingdom, have been the most active buyers of real estate assets in Romania over the past five years (2019–2024), making investments totaling EUR 1.75 billion, according to Cushman & Wakefield Echinox data.
They were followed by Romanian investors, who acquired assets worth nearly EUR 1.2 billion, representing a 26% market share. Investors from Central and Eastern Europe purchased real estate assets valued at EUR 560 million (13% market share), investors from the Middle East made investments totaling EUR 388 million, while South African investors saw a decline in activity, holding a 7% market share.
Despite the volatile market environment, the Romanian real estate sector has continued to attract new investors, both local and international. Among the newcomers are M Core (UK), Supernova (Austria), Adventum Group (Hungary), Fortress (South Africa), Oresa Industra (Sweden), BT Property (Romania), Vectr Holdings (India), Vincit Union (Latvia), W&E Assets (USA), and AYA Properties (Belgium).
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Amongst the companies already active in the local market, the largest acquisitions were made by Paval Holding, CTP, and AFI Europe, as they strengthened their positions by acquiring office building portfolios (Paval Holding and AFI Europe) and industrial and logistics parks (CTP).
Between 2020 and 2024, 159 transactions were recorded, with an average value of over EUR 28 million. The most transacted properties were office buildings, which accounted for over EUR 2.2 billion (nearly 50% of total volume), followed by retail projects (24%) and industrial properties (19%).
Approximately 60% of the investment volume was directed toward properties located in Bucharest, while more than a quarter of the market consisted of portfolio acquisitions of assets located in multiple cities across Romania.