Romanian investors have significantly increased their presence in the local commercial real estate market, acquiring nearly €1.8 billion worth of assets between 2015 and mid-2025, according to data from Colliers released on 29 July 2025. This marks a ninefold increase compared to the previous decade, when Romanian capital accounted for only around €200 million in transactions. The total volume of real estate transactions in Romania during the first half of 2025 reached just over €400 million, slightly below the €424 million recorded in the same period of 2024. However, the figure remains in line with the post-pandemic average for the first half of the year. Colliers’ analysis indicates that Romanian buyers now represent around 20% of all commercial property transactions over the past ten years, a significant shift from the 2005–2014 period, when domestic investors contributed less than 4% to the market. According to Robert Miklo, Partner and Head of Capital Markets at Colliers Romania, this growth reflects the broader development of the Romanian economy, which has enabled more local entrepreneurs to diversify their investments into real estate. The concentration of capital among leading domestic investors remains notable. The six largest Romanian-led transactions in the past decade accounted for nearly half of the total domestic investment volume. Even so, excluding those deals, Romanian capital has still grown more than four times compared to the previous decade, underscoring what Colliers sees as a maturing investment landscape. Office properties have been the most favored asset class among Romanian investors, making up approximately two-thirds of total investment by local capital. Retail properties followed with about 15%, and hotels accounted for roughly 7%. In the first half of 2025, retail assets were the most active segment, contributing more than 40% of the total transaction volume. The most notable deal was MAS REI’s sale of a retail park portfolio to UK-based M Core, estimated at €57 million. With two other acquisitions in the shopping center category, M Core became the most active investor in the Romanian market during this period, responsible for over one-third of total transaction volume. Interest in office buildings is also re-emerging, according to Colliers, with several significant deals recorded this year. These include the sale of Equilibrium 1 by Skanska to Granit Asset Management, and the acquisition of Victoria Center by Solida Capital. Ethos House was also acquired by Romania’s Paval Holding, further highlighting increased activity from both international and local buyers. Colliers notes that the transaction pipeline for the remainder of the year includes several major deals currently in advanced stages. Depending on how these unfold, the total investment volume for 2025 could reach between €800 million and €900 million, potentially positioning the year among the most active for the Romanian real estate sector in recent history.