Additionally, the sentiment towards offices remains cautious but slightly improved compared to previous editions of the study.

The research shows that  a clear majority of investors intend to expand their portfolios over the next three years, while 21% plan to maintain the current level of activity, and only 9% estimate a reduction. The main source of financing is represented by banks, with 49% of respondents indicating the accessibility of loan conditions. Another important source is represented by loans from shareholders (19%).

"Investors view the Romanian real estate market in 2025 with optimism but also with a certain degree of caution, betting on the consolidation of the industrial & logistics and retail segments, a stabilization of demand for offices, and a selective growth of portfolios. Supported by the accessibility of bank financing, attention to sustainability, and adaptation to ESG requirements, the market's evolution suggests a balance between existing opportunities and macroeconomic challenges, in the context of increased confidence in economic stability and national consumption," says Vlad Săftoiu, Head of Research at Cushman & Wakefield Echinox.

At the same time, efficient management of operating costs is the main challenge for 39% of respondents, while 24% identify the complexity of legislative regulations as a major problem in managing real estate portfolios.