A notable trend is the rise in net take-up, which accounted for 70% of the total leasing volume, reaching 181,000 sqm. This marks an increase from 59% in Q1 2024 and 62% in Q4 2024, indicating stronger occupier demand.
Bucharest led the demand with a 65% share, followed by Timișoara at 12%, underscoring their significance as key industrial hubs in Romania.
Several major transactions drove the market's performance. Delamode expanded its presence in CTPark Bucharest with a total of 31,000 sqm. LPP also increased its space in CTPark Bucharest West by 23,000 sqm, and NRF leased 20,100 sqm in MLP Bucharest West. Outside Bucharest, RPW Logistics renegotiated their contract for 15,700 sqm in VGP Park Timișoara.
The total stock of industrial and logistics spaces in Romania reached 7.71 million sqm by the end of Q1, with 142,000 sqm of new projects completed during the quarter. New developments in Bucharest added approximately 50,000 sqm to the market.
Looking ahead, the industrial and logistics stock in Romania is expected to surpass 8 million sqm by the end of the year, with approximately 345,000 sqm currently under construction.
"The strong performance of the industrial and logistics market in Q1 2025 reflects the continued confidence of occupiers in Romania's economic potential and strategic location," said Oana Iliescu, Managing Director at Cushman & Wakefield Echinox. "We anticipate sustained growth, driven by both expansions and new entries, with Bucharest remaining at the forefront of this expansion."
The vacancy rate has slightly increased to 5.6%, but is projected to decrease in upcoming quarters due to the limited number of speculative projects in progress. Monthly rental levels have remained relatively stable, ranging between €4.20 and €4.70 per sqm, with potential minor increases expected for new projects due to rising construction and land costs.
