After a year 2024 marked by political uncertainties, a general context of expectation and, consequently, a relatively low demand, the land market became more active in the first half of 2025, according to specialists.
The land market became redesigned in the first part of 2025. Photo archive
The estimated value of the transactions with land for commercial real estate projects (except the industrial ones) has approached 200 million euros, below the level of the same period last year, but with better prospects for the second half of the year and for 2026.
At the same time, the interest for office lands remains very low, while the residential segment and the one for special projects – from the medical area, education, student accommodation, databases, showrooms, etc. – Earn land. The demand for industrial land is also increasing, especially near the big cities and where important infrastructure projects are being in progress, where investments are outlined in the logistics segment and in the production/construction of factories.
Retail and residential remain the most active segments on the land market, as in previous years. In the retail area, the interest is supported by both developers already present on the market and by new buyers who are looking for land for future projects. Most transactions are recorded in small and medium cities, where values are moderate, but the number of purchases is high. Developers, both local and international, and the big store networks continue to expand near the population density areas, relying on the potential of proximity consumption, by the purchase of land for build-to-to-use for certain retailers or commercial galleries of various dimensions.
More and more investors are looking for big land for housing projects
The residential market attracts interest, especially in the big cities and in Bucharest, where the number of transactions is lower, but the values are higher. Developers with tradition seek to expand their portfolio of projects, relying on the economic potential of urban areas, even in the context of a slower economy and recent tax changes. In the metropolitan area of the Capital – especially in the northern part – more and more investors are looking for large land for housing projects or villas, signaling a clear tendency for low density projects.
“The activity on the land market is still supported by the large operators and retail developers – either through individual projects or by developing commercial parks of different dimensions – and is complemented by an increasing interest from local capital for special projects. We also see new buyers, a sign that the market confirms the potential in the medium and long term, and the long -term is diversified. Without being discouraged by the temporary slowing down of the market or the fiscal changes, which shows us that the appetite for well -located projects remains high, especially in the big cities and in Bucharest ”, Explains Sînziana Oprea, director of Land Agency at Colliers Romania.
Lands for office buildings do not arouse the interest
The interest for lands for offices remains low, in the context of changes in the labor market and the preference for flexible working formulas. Many of the lands initially designed for office buildings are now directed to collective housing or accommodation for students – solutions that better match the current needs of the market.
Although these transactions are not included by Colliers in calculating the market volume, the company notes that the segment of industrial land becomes more active, with a visible growth demand. Most transactions take place near the big cities and the infrastructure recently completed or in completion, where consecrated logistics developers and companies interested in building factories are looking for appropriate land. Against the background of the changes in the region, this evolution indicates a strategic repositioning of the supply chains, but also a real opportunity for Romania to attract industrial investments with direct impact on the local economic development and the land market.
“We observe a constant interest and a large number of projects in preparation, which gives us reasons to be moderately optimistic for the next 12-18 months. The land market becomes more diversified, but it remains to be seen how the economy will absorb the fiscal changes that come at a time when the local business environment was already a little weakened, and consumers had become less optimistic anyway. However, despite uncertainties, most analysts anticipate that starting with 2026, we will begin to return – a forecast that is aligned with the general feeling of the land market. “says Sînziana Oprea, director of Land Agency at Colliers Romania.
There are former opportunistic buyers too
Colliers experts note that the offer area remains solid and there are quite frequently new strategic lands that are for sale. Although there are “ordinary” sellers, much of the offer is generated by investors who seek to focus on the basic activity. “There are also former opportunistic buyers who now see an opportunity to release the capital held in land to focus on other more attractive fields ”, I say the specialists adding that, in this context, prices evolve quite heterogeneous: for land without valid urbanism documentation or which are positioned in areas with complicated accessibility, there may be decreases in prices, while for very good, urbanized and competitive lands (possibly, from several types of developers).
“If we take into account the development cycle of a real estate project, even if we are talking about a shopping center, an office building or a residential complex, we can say that a real estate project would now arrive on the market, for sale or rent, at the earliest in a year and a half. But rather it would be over 2 years, so it would be on the market or 2028. The relative effervescence in the market The lands gives us understand that many developers are aware of this aspect and for this reason, the land market It should remain quite dynamic, ”concludes Sînziana Oprea.
