Romania’s modern retail stock reached a total of 4,859,000 sqm by the end of Q2 2026, with retail parks accounting for approximately 23 pct of this area. The total delivery volume for the first half of the year reached 84,000 sqm. These include the expansion of Arena Mall Bacău, Phase 1 of Urbano Shopping & Living in Cluj-Napoca, and new regional retail parks in Oradea, Breaza, Bran, and Brașov. Currently, 68,000 sqm of new space is under construction with delivery scheduled for H2 2026 (including ARIA Shopping Center, One Gallery, and Cometex retail parks). Consequently, the total estimated delivery volume for the full year 2026 reaches 152,000 sqm. Nearly 300,000 sqm of new space is in the planning and construction phase. Major projects include the 120,000 sqm mixed-use Rivus project in Cluj-Napoca, the expansions of Promenada Mall Bucharest and Palas Iași, as well as M Park Galați.
New international brands and rental stability
Romania continues to be a highly attractive destination for global retailers. In Q2 2026, the premium sportswear brand lululemon opened its first store in the country. Additionally, the brand Dansk entered the market, and the restaurant chain wagamama announced plans for local expansion. Existing retailers such as Primark, Action, Rituals, and Elisabetta Franchi continued to expand their networks. The landmark transaction between Dedeman and Carrefour was successfully concluded, marking a new strategic milestone in the development of Romania's retail market.
Prime rent levels remained stable this quarter with shopping centres priced at EUR 87.00/sqm/month (a 2.35 pct annual increase). Prime high street rents currently stand at EUR 65.00/sqm/month (a substantial annual increase of 18.18 pct, with upward pressure in premium Bucharest locations such as Calea Victoriei, driven by demand from the F&B sector).
Real Estate Investment Market: Retail Dominates the Second Quarter
The Romanian real estate investment market reached EUR 253 mln in the first half (H1) of 2026. Although the total volume recorded a 35 pct decline compared to the same period last year, transaction activity remains robust, with the number of transactions holding steady (16 in H1 2026 versus 17 in H1 2025).
In the second quarter (Q2 2026), total investment volume came to EUR 102 mln (a 54 pct year-on-year contraction). This period was decisively dominated by the retail sector, which attracted approximately 80 pct of the total invested capital (around EUR 81 mln).
Two major retail transactions brokered by CBRE marked the second quarter:
NEST Portfolio: The retail parks in Moinești and Miercurea Ciuc were acquired by the Czech investor Star Capital Finance from RC Europe.
Winmarkt Ploiești Portfolio: Divested by the Italian group IGD and secured by Dolphin Invest.
Other market transactions involved projects such as GP Plaza—acquired by Square 7 / M Core— and projects purchased by end-users (such as Jumbo Militari and Brico Depot stores).
Yield Trends:
Driven by heightened interest in assets generating stable income, the retail segment saw yield compression in June 2026 with prime shopping centres seeing A 10 bps decrease, reaching 7.65 pct. Retail Parks in primary locations saw a 15 bps decrease, reaching 8.10 pct (with a 7.75 pct yield for prime retail parks)., and secondary Retail Parks saw A 25 bps decrease, reaching 8.00 pct.
Currently the country's GDP growth is estimated at 0.6% for 2026 and forecast at 2.2% for 2027. The inflation rate (CPI) stands at 8 pct in 2026, with a projected drop to 5.5 pct in 2027 and the unemployment rate stands at 5.9 pct in 2026, with a forecast decline to 5.4 pct in 2027.
Despite a complex macroeconomic and political landscape, the fundamentals of the Romanian retail market remain solid. This is reaffirmed by sustained developer appetite, the continued expansion of international brands, and the resilience of domestic consumption.
the CBRE Romania research team.
Strong Outlook for the Second Half of the Year (H2 2026)
The forward transaction pipeline points to a significant recovery for the second half of the year. Transactions in advanced stages, with pricing already established, exceed a total value of EUR 800 mln. This pipeline is driven by two large-ticket transactions in the retail and logistics sectors. Added to these are ongoing negotiations for office buildings and other retail assets in Bucharest, as well as hotel transactions in the capital. Their completion will push the total volume for 2026 significantly above the level recorded in 2025.
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