Retail Market in Romania Continues to Expand in 2024

Despite economic slowdowns, Romania’s modern retail sector is expanding, driven by increased consumer demand and the arrival of new international brands.

According to Colliers’ annual report:

• Non-food sales grew by 14% in 2024, reaching a record level.
• Individual consumption in Romania surpassed Poland and the Czech Republic, reaching 89% of the EU average.

Retail Space Development

Although demand is high, modern retail stock remains undersized, with over 200,000 sqm of new retail space expected in 2025.

• Major projects include the expansion of Mall of Moldova (Iași) and the reopening of Agora Mall (Arad).

In 2024, 167,000 sqm of new retail space was delivered—less than 221,000 sqm in 2023 but still above the annual average of 140,000 sqm from the past decade.

• Pitești saw the largest deliveries, with Argeș Mall (51,000 sqm) and M Pitești Park (24,000 sqm), accounting for nearly half of all new retail space.

However, a shift towards large-scale retail projects in major cities is expected in the coming years.

Consumer Spending & Market Performance

Over the past 15 years, per capita spending in Romania grew significantly, now only 20% lower than Germany.

• Romania outperforms Poland, the Czech Republic, and even Spain in per capita spending on fashion.
• Consumer growth is now less dependent on credit, making it more sustainable.

Sectors with strong gross operational returns include: ✔ Fashion & footwear ✔ Pharmaceuticals & cosmetics ✔ Toys

New Brands Entering the Market

2024 saw an influx of regional and international brands:

• Retail & Supermarkets: Żabka Group's Froo, expanding rapidly with 50+ stores in 6 months.
• Cosmetics: Rituals Cosmetics, Kiko Milano.
• Fashion & Accessories: Budmil, Bogner.
• Hospitality & Restaurants: Happy Restaurants, Hesburger.

Outlook for 2025

• Over 200,000 sqm of retail space planned.
• NEPI Rockcastle, Iulius, and Prime Kapital/MAS REI to focus on large shopping centers (100,000+ sqm GLA).
• Strong demand for prime retail spaces, with waiting lists for tenants.

Romania’s retail market remains one of the most dynamic in Europe, with high consumer spending and strong investor interest.