The evolution points to a development activity rebound last year, after in 2023 project deliveries were 46% below the 2022 level, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.
“Romania logistic and industrial space market is undergoing a period of stabilization, with rising deliveries and solid demand from the part of retail, FMCG and manufacturing companies,” says Stefan Surcel, Head of Industrial Agency Cushman & Wakefield Echinox.
In line with the company’s analysis, Bucharest benefited from the largest part of the area built in 2024- 152,500 square meters (27% of the total), followed by Ploiesti with 127,200 square meters (22% of the total) and Brasov with 76,600 square meters (13% of total 2024 deliveries).
At present, around 230,000 square meters are under construction, but Cushman & Wakefield Echinox expect 2025 deliveries to overshoot this level.
Bucharest-Ilfov boasts the largest area of spaces under construction (98,000 square meters).
As regards demand, the last quarter of 2024 brought a significant increase in trading activity, 64% above the Q3 level. Nevertheless, in the entire 2024 companies leased 842,800 square meters of industrial and logistic spaces, down 16.8% from 2023.
Given demand and trading activity evolution, the vacancy rate edged up to 4.9%, with a decline expected in 2025 owing to the limited number of speculative projects.
“Despite a slight increase in the vacancy rate, outlooks for 2025 remain upbeat as the positive economic evolution creates a favorable context for the continuation of developments in this field,” says Stefan Surcel.
(English version by Catalina Apostoiu)