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The Real Estate Transaction Volume In Romania Increased By 131% Y-O-Y During H1 2024
Romania saw a 131% year-on-year growth in real estate transaction volume during H1 2024, reaching €418 million—the highest growth rate in Central and Eastern Europe (CEE). This surge places Romania third in the region, behind Poland and Czechia, and ahead of Hungary and Slovakia. The retail and industrial sectors drove 90% of this volume, while office transactions represented just 4%, according to Cushman & Wakefield Echinox.
The regional transactional volume, covering Romania, Poland, Czechia, Hungary, and Slovakia, totaled €3.26 billion in H1 2024, marking a 40% increase from the same period in 2023. Poland saw a 113% rise, and the Czech market grew by 19%, while Hungary experienced a 33% decline and Slovakia a sharper drop of 73%.
Romania recorded 38 transactions in H1 2024, up from 17 in H1 2023, making it the most active first half-year since 2017. The second half is expected to see even stronger activity. Cristi Moga, Head of Capital Markets at Cushman & Wakefield Echinox, noted a resurgence in investor interest, particularly from existing market players, with favorable financing conditions and price stabilization expected to drive significant transactions in the latter half of 2024. The total transaction volume for 2024 is anticipated to reach around €1 billion, consistent with the annual average over the past decade.
Retail accounted for the largest share of the volume (47%) in H1, followed by Industrial (43%), Hospitality (6%), and Office (4%). The largest deal was CTP’s acquisition of six industrial and logistics parks from Globalworth for €168 million, followed by WDP’s €90 million purchase of Expo Market Doraly, a retail and wholesale center near Bucharest. Prime yields remained stable across all segments, with only a minor 10 basis point increase for industrial properties, leaving yields at 7.25% for office and shopping center assets, and 7.50% for industrial properties.