International investors accounted for 90% of the total investment volume in Q1 2025, while Romanian capital remains active, indicating a gradual maturation of the national market. 

CBRE forecasts that the total investment volume could exceed €1 billion by the year's end, marking an approximate 35% increase compared to 2024. 

This optimistic outlook is supported by the ECB's declining reference interest rate and a robust pipeline of transactions.

Looking ahead, CBRE experts anticipate a potential compression of yields for premium assets by the end of the year, particularly in the office and retail sectors.

In the local office market, while the total leasing volume has decreased compared to last year, the net demand (take-up) in the office sector in Bucharest has risen by an impressive 38% compared to Q1 2024, surpassing the average of the last five years. 

CBRE notes a heightened demand for quality assets, coupled with a limited supply of new developments, which has led to a continued decline in Bucharest's vacancy rate, now at 11.9%. This trend is particularly evident in the central area, where the vacancy rate has hit a multi-year low of just 2.9%.

Laura Dumea-Bencze, Head of Research & Director Investment Properties at CBRE Romania, noted that "the lack of new deliveries in 2025 and the modest pipeline expected for the coming years are creating conditions for supply pressure, which could sustain the upward trend in rents and intensify investor interest in well-located existing buildings".

The retail sector has reclaimed its position as the leading sector for investment, attracting 66% of the total investment volume in Q1 2025. This resurgence, observed over the past two years, reflects growing confidence in domestic consumption and strong economic fundamentals. 

Factors such as a 13% increase in the average net salary in 2024, a stable unemployment rate, and rising purchasing power have bolstered both consumer spending and tenant demand, thereby attracting investors to commercial spaces.