Romania Industrial Market Q1 2026: Solid Demand, Softening Absorption, Growing Pipeline
233,000 sqm leased, manufacturing driving nearly two thirds of demand, and 660,000 sqm still in the pipeline for 2026. A solid quarter, with vacancy and absorption signaling a market adjusting to new supply.
Demand held up in Q1 2026, with gross take-up reaching 233,000 sqm — 6% above the same period last year. Manufacturing and light industry accounted for 63% of net demand, confirming its position as the primary driver of leasing activity in Romania's industrial market. Retail and e-commerce each contributed 11%, with the remainder spread across other sectors.
Net take-up told a more nuanced story, coming in at 141,000 sqm — 7% below Q1 2025. Vacancy reached 5%, down 12 basis points year-on-year, while completions in the quarter totaled 98,000 sqm, up 6.5% compared to the previous year. Total stock now stands at 8.26 million sqm, growing 4.6% year-on-year, as the market continues to absorb a significant wave of new space.
The pipeline is the number that defines the outlook: 528,000 sqm currently under construction — up 154% year-on-year — with 660,000 sqm expected to complete across 2026. Prime rents held at €4.75/sqm/month in Bucharest, though regional markets saw year-on-year declines ranging from 5% to 10%. With manufacturing demand steady and supply accelerating, the balance between the two will be the defining dynamic for the rest of the year.
Head of Industrial, Energy & Land Development
