Brasov

Brașov Market: Urban agglomerations capture the attention of retail investors

Brașov Market: Urban agglomerations capture the attention of retail investors
Brașov Market: Urban agglomerations capture the attention of retail investors 2160 1440 ROMANIA PROPERTY CLUB
Brașov Market: Urban agglomerations capture the attention of retail investors

While Brașov’s shopping center stock has remained constant at approximately 140,000 square meters—dominated by its two mega-projects, Coresi and AFI—investor attention has pivoting toward proximity retail and new urban agglomerations.

The Coresi Shopping Resort spans a gross leasable area (GLA) of 63,000 sqm and reached a milestone of 15 million annual visitors last year. This footprint was sustained by continuous community engagement and a dedicated campaign celebrating Coresi’s 10th anniversary, featuring music festivals, sports, and cultural projects. The Coresi brand remains one of the most acclaimed in the city, ranking 3rd in the “Top 100 Most Loved Brands in Brașov,” securing leadership positions in brand awareness and loyalty, according to Nhood data.

The next strategic milestone for Coresi is the transformation of The Hangar, a historic industrial structure that predates the current project and forms a vital part of the area’s identity. The development approach focuses on preservation and transformation rather than demolition, aiming to reactivate the space and integrate it as a new urban landmark and a connection point between generations, Nhood reports.

On the other hand, AFI Mall opened its doors in October 2020 with a footprint of 45,000 sqm. It hosts 150 stores and premium brands, including Zara, Levi’s, Tommy Hilfiger, Gant, Under Armour, Mango, and many others. The center features a 3,500 sqm terrace offering panoramic views of the Carpathian Mountains, equipped with playgrounds, relaxation zones, cafes, and numerous restaurants. Strategically located just a few minutes’ walk from the historical center , the mall boasts a monthly footfall of 750,000 visitors, 51% of whom are women.

RETAIL RENTS IN BRAȘOV

Asset Type Rent Range (Euro/sqm)
Shopping Centers / Malls €30 – €40
High Street Retail (Stradal) €10 – €30
Retail Parks €8.5 – €9

Source: iO Partners

Market Maturity: The Shift to Flexibility and Proximity

According to data from The Seller & Partners, the starting point for 2026 reveals a retail market that has reached full maturity. Large “one-stop-shop” commercial formats have successfully covered the city’s main consumer axes. With a stabilized stock of modern space, Brașov no longer requires new commercial giants, but rather a more intelligent distribution of existing points of sale.

Despite high occupancy rates, the market is far from stagnant. While a wave of new pipeline projects is on the horizon, the underlying format has shifted radically. Developers are now betting heavily on Retail Parks and Strip Malls—more flexible structures with lower operational costs and direct street-level access. These developments aim to fill the “gaps” left by the massive expansion of previous years, offering a fast-paced alternative to lengthy mall shopping trips.

Currently, two such pipeline projects are under construction:

  • Bartolomeu Retail Park: Developed by Repaco Capital in the north-western district of Brașov, this retail park is scheduled for inauguration in the near future and will feature a leasable area of approximately 5,500 sqm.
  • Codlea Project (M Core): The British investor M Core is adding Brașov to its expansion map with a new project in Codlea. The investment targets the construction of three buildings on a 26,436 sqm plot of land. One building will host a supermarket, while the other two will be dedicated to commercial galleries, bringing the total announced built-up area to 6,864 sqm.
Brasov1

The “Catchment Area” and Community Target Strategy

Ranked as the second most visited region in Romania after the capital, Brașov benefits from an extended catchment area, driven not only by the ski season but also by robust weekend leisure traffic. Consequently, prime downtown locations command high interest from investors and retailers alike.

A prime example is City Grill Group, the largest Romanian-capital restaurant chain, which closed 2025 with a consolidated turnover of €90 million. The group recently announced plans to renovate the famous Cerbul Carpatin restaurant. “The group invests in buildings that tell a story, where the public is drawn to an experience that is difficult to replicate in any other context or location,” company officials explained.

The chronology of recent developments points to a clear trend, note analysts at The Seller & Partners: where residential development builds up, retail inevitably follows. The current investor strategy targets high-density population clusters, shifting focus from general “high-footfall” thoroughfares to specific, localized communities. New projects are strategically positioned at the intersection of commuter flows between residential neighborhoods and business hubs, transforming retail into an essential proximity service.

Looking Ahead

Moving forward, the dynamics of the retail sector will remain intrinsically linked to medium and large-scale urban expansion. The growth of districts such as Tractorul Nord, Bartolomeu, or the new residential axis in the Astra-Noua area serves as the catalyst for the next phase of commercial construction. The strip mall is no longer an isolated project, but a mandatory component of the urban mix, validated by the modern consumer’s need to save time.

The Bottom Line: High-street retail and proximity retail parks currently represent the most resilient asset class in Brașov. In a market deemed “fully covered,” survival and profitability now hinge on developers’ ability to accurately read the city’s new residential maps and deliver retail spaces exactly where “the lights go on” in the newly completed apartments.

A traditional manufacturing destination, Brașov consolidates its hub status

A traditional manufacturing destination, Brașov consolidates its hub status
A traditional manufacturing destination, Brașov consolidates its hub status 1621 1080 ROMANIA PROPERTY CLUB
A traditional manufacturing destination, Brașov consolidates its hub status

The county is the third largest industrial & logistics hub in Romania, after Timisoara and Ploiesti. Brasov enjoyed a growing modern warehousing & production market, with nearly 16% of the total 470,000 sqm stock being built in the past twelve months.

Moving forward, an additional 13,000 sqm shall be built, as Brasov is one of the few regional hubs with active construction pipelines in 2025. VGP is one of the top three dominant players that is pursuing new developments in the county.

The vacancy rate is one of the lowest in the country – just under 2%, but that is due to the non-speculative character of the region. For comparison, the vacancy rate in Bucharest-Ilfov (the region that hosts half of Romania’s modern stock) is at 5%; in Timisoara, the second-largest industrial & logistics hub, the vacancy rate stands at nearly 11%.

The take-up stood at 16,200 sqm, a significant drop compared to the previous period when jumbo deals such as the 47,000 sqm Intercars pre-lease made headlines. However, the region gave signs of steady, sustainable demand.

The asking headline rents slightly dropped from 4.5 EUR/sqm to 4.4 EUR/sqm due to the market dynamics. The county is dominated by auto and electronics producers, which are under market pressure due to economic developments. This triggered a schedule of mass layoffs and production properties put up for sale. It is to be determined whether this will have long-term consequences or if it is simply a natural transformative period.

Dana Bordei

Dana Bordei, Country Commercial Manager, VGP Romania:

“Brasov, a city with a fast economic growth, is an increasingly strong pole of attraction for national and international companies. VGP Park Brasov enjoys the fastest growth of VGP’s portfolio in Romania, reflecting the robust demand for class A spaces in the proximity of the production units located in the western part of the city.

This region is becoming increasingly attractive for new suppliers and business partners, due to the availability of a qualified workforce and the presence of rapidly developing production and distribution companies.

With the five buildings already delivered, totalling approximately 123,000 sqm, which are designed and built according to the strictest sustainability and energy efficiency standards, VGP Park Brașov is positioning itself as a reference example in sustainable real estate development.

Infrastructure developments such as the Sibiu-Brasov-Bacau A13 highway shall bring new development opportunities. The Sibiu–Fagaras 70 km lot is under active construction, with works expected to be done by 2027. While the Brasov – Bacau lots are at the feasibility stage, the opening of the Sibiu-Fagaras lot will bring new development opportunities as connectivity to Western Europe is significantly improved.

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Brasov accelerates industrial & logistics development
Brasov accelerates industrial & logistics development 2560 1884 ROMANIA PROPERTY CLUB

16.04.2024

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Brasov has been an interesting center of attention during 2023, with multiple new builds and announced projects. Both institutional investors and owner-occupiers made significant commitments towards the region.

Brasov is part of the Central region on Romania’s map of modern industrial & logistics premises. Out of the total 7.02 million sqm of national stock, the center region covers 680,000 sqm, half of it being in Brasov.

Owner-occupiers such as Olympus, Ursus, Bauer, and Foerch undertook significant investments towards adding processing, storing, and office capacity.

Olympus announced a 40 million EUR expansion into state-of-the-art cold storage, warehouses, and offices.

Ursus committed to investing over 50 million EUR for the next three years, featuring a new bottling line, warehouses, offices, and an extension of the production facility.

The top three institutional investors – VGP, WDP and CTP -have started a solid development pipeline, with a total combined build capacity of over 360,000 sqm.

VGP signed multiple new tenants, including a record of 47,000 sq m with Intercars, working on the automotive strengths of the region, and an 8,500 sq m lease with DB Schenker.

CTP announced a significant new investment in the city ecosystem, by signing a multi-stage growth lease with Diehl Controls, one of the major home appliance and HVAC production companies.

One of the pioneers of the industrial market in Brasov, ICCO, has 45,000 sq m under development, whereas NEPI Rockcastle has 23,000 sq m available to let in the wider county (Rasnov).

Urban logistics operator, Modulis, is preparing Phase II for go-to-market – 33 small warehouses to cover more than 20,000 sqm.

The authorities are quite involved in pitching to new investors, thus offering large industrial platforms suitable for development. While the former CET platform is still under review and clearing, in Prejmer the local governing body opted for a Public – public-private partnership with Spanish operators Graells & Llonch.

The site, originally an impressive 82 ha plot, has attracted residents, mainly SMEs and local producers, on more than 50 ha. Through residency, companies are offered incentives such as no property tax and/or deductions.

The prime asking rent for modern Class A facilities surged from a base of 3.6 – 3.85 EUR/sqm to 4.25 – 4.5 EUR/sqm, aligned with Bucharest prime rents.

Investments towards increasing the output are not only in facilities but education as well.

In partnership with the City Hall and the dual education center, Schaeffer invested 0.5 million EUR in 2023 in scholarships and meal vouchers to train personnel.

In 2024, the plans are to increase the budget to 0.7 million EUR and contribute to the material base of the class (specialized equipment).

Along with Schaeffer, 15 other companies are partners with the dual education center, among which Draxelmeier, Vitesco, Schneider, and Preh.

This is an outstanding example of aligning the corporate and the public systems to generate a win-win situation and contribute to the economic development of a region.

To unlock further value, investors are waiting for the streamlining of the new international network and for road infrastructure projects to materialize.

Intrior Of Shopping Mall

Novel retail & leisure concepts enter Brasov market
Novel retail & leisure concepts enter Brasov market 2560 1707 ROMANIA PROPERTY CLUB

15.04.2024

Intrior Of Shopping Mall

The Brasov retail market development has been steady, with a few notable new moves. A new retail park, built by Element Development, was added last year to the existing 170,000 sqm of modern stock, which is mainly anchored by the established schemes – AFI Brasov and Coresi Shopping Center (105,000 sq m combined GLA).

The largest retail area was developed on the former Tractorul platform, where Coresi shopping resort was inaugurated in 2015, spreading over 24 hectares.

The owner announced development plans, with a new retail hub comprising a 4,200 sqm Decathlon store, a 2,050 sqm Bebe Tei, 850 sqm Farmacia Tei and two large furniture stores Momaz and XXXLutz on 28,000 sqm and Mobexpert on 9,600 sqm.

Decathlon, Bebe Tei and Farmacia Tei are scheduled to open in 2024, while Momaz, XXXLutz and Mobexpert in 2025.

Flanco made the first step in implementing its new greenfield development strategy by acquiring a 5,000 sq m land plot in Brasov, to build a 1,500 sq m single-brand shop and supplement its presence in the region.

Remote work, which allows talent from anywhere to connect to a virtual delivery office also contributed to the slower take-up throughout the country. In Brasov, remote workers are served by co-working, such as The Business Factory located in Coresi. Raiffeisen Bank also offers a few co-working offices through its Hub1317 program.

Alexandrion Group announced plans to invest in a concept of shops and hotels, which is aimed at Romanians with incomes of 1,000-1,500 euros, who want to consume fine drinks, such as single malt, brandy, or rum, in the city, at affordable prices and to have entertainment, such as watching a football match or live music. Brasov is on their development plans.

Another notable addition is a large transaction represented by the signing of the fourth La Cocos store, a domestic discount supermarket. An anchor level of 10,000 sqm was signed at BRINTEX Discount Shopping Centers, located in the Bartolomeu area, a retail scheme that recently underwent an extensive refurbishment process.

A key development is the purchase made by Speedwell – the former Tino factory. The 17,600 sq m surface is currently under master planning, with the expectation of building a residential – retail mixed-use, coming to market in the medium to long term.

In terms of pipeline, Rara Group is considering a retail park in Ghimbav spanning over 15,000 sq m of land. While other retail parks were previously announced, the developers decided to cancel the projects for the time being.

The city still relies on the services and brands present in the two existing shopping centers.  AFI Mall spans over 45,000 sq m and was opened in 2020. It is located in a prime central area with long-term value for both residents and tourists.

The center hosts more than 350 shops and a good mix of international and local brands. Coresi Shopping Resort, a 60,000 sq m development, is part of a wide urban regeneration scheme and serves mixed-use residents and the wider Brasov population.

Low development pace for Brasov office market

Low development pace for Brasov office market
Low development pace for Brasov office market 1618 1080 ROMANIA PROPERTY CLUB

15.04.2024

Low development pace for Brasov office market

The Brasov office market size and pace is dictated by the pipeline of university students (c.a. 20,000 per year), ranking 5th after Bucharest, Cluj, Iasi, and Timisoara. The modern stock was maintained at 155,000 sq m, with no new developments in 2023.

However, AFI obtained the building permit to continue building Phase II (10,000 sq m) for the office park adjacent to the AFI Brasov Mall, with an expected delivery date in 2026.

The headline rent slightly increased to 13.5 EUR/sq m, even though the pace of take-up was as slow as in 2022. Fewer than 5,000 sq m were transacted in 2023, mainly by IT & C companies. The take-up trend aligns with other regional leaders, where new absorption was less than 10,000 sq m / per city through 2023.

While the average wage in Brasov is 1,400 EUR/month, below Cluj, Timisoara, and Iasi, work from home and hybrid policies led to a supply of subleases, whereas new entrants preferred to focus on the opportunities offered by the talent pool in Romania’s main city.

Remote work, which allows talent from anywhere to connect to a virtual delivery office also contributed to the slower take-up throughout the country. In Brasov, remote workers are served by co-working, such as The Business Factory located in Coresi. Raiffeisen Bank also offers a few co-working offices through its Hub1317 program.

Strong multinational tenants in IT&C, BPO / SSCs, and retail are being served by the existing three business parks in the city, AFI Offices, Coresi Business Park, and Brasov Business Park. The latter might resume construction of its next phase during the medium term, subject to demand.

The outcome of the public debate on the zoning and services required by the 36ha urban regeneration of the former Rulmentul factory might dictate a new development pole on the long term.

RPC Talks with Daniel Popa, Country Manager, Reynaers Aluminium
RPC Talks with Daniel Popa, Country Manager, Reynaers Aluminium 2560 1834 ROMANIA PROPERTY CLUB

RPC Talks to Daniel Popa

Country Manager, Reynaers Aluminium

Reynaers Daniel Popa

Reynaers on the Romanian market

“Present on the local market since 2006, in Romania we are in the top 3 suppliers of aluminum solutions. We have grown continuously, we have developed our local infrastructure, and we will continue to do so in the following years. Reference works include One Mircea Eliade, One Charles de Gaulle, One Herastrau Plaza, Aviatiei Park, Campus 6, Tiriac Tower, Record Park, Sema Park, Oregon Park, Brasov Business Park, Promenada Mall, Afi Business Park, Amber Forest, One Rahmaninov, Maurer Panoramic, The Light.”

What solutions does Reynaers propose for the local community of developers from Brasov?

We deliver high-tech products backed by complex research and development processes, testing and know-how that meet the highest standards and quality requirements, and we are committed to delivering unique and sustainable solutions that satisfy the most stringent requirements, both aesthetic and efficiency.

Brasov is an important business market for us, a city with high potential for new developments, and we plan to open a new Reynaers Experience Center here, which will give partners the opportunity to interact directly with our universe.

The new center will have a team of professionals ready to advise customers, to offer them the best design, functionality, and performance solutions. Our locations combine both the technical and design aspects of the Reynaers brand and have been designed to serve architectural firms, developers, investors, general contractors, manufacturers, and, last but not least, end users.

The portfolio of products and solutions that will be found here includes recently launched innovations, from the latest extensions of Reynaers systems for windows and doors, sliding doors and curtain walls, as well as the newest range of accessories, all in a diverse palette of colors in harmony with new architectural trends.

Main challenges and opportunities for the year ahead?

The demand for sustainable products is constantly increasing, which for us is not something new, but rather an advantage. All our products follow the principles of circular economy, designed to provide the best quality for as long as possible, from manufacturing to end of life.

Also, we are the only suppliers on the local market that offer 10-year product warranty certificates. Another advantage is the increase in digitalization, where we already offer products for smart homes, adapted to the latest technologies in the field.

Brasov residential market enters new development phase

Brasov residential market enters new development phase
Brasov residential market enters new development phase 4835 3237 ROMANIA PROPERTY CLUB

12.04.2024

An analysis with the support of imobiliare.ro

Brasov residential market enters new development phase

Brasov residential market has become the largest regional residential market, and the second one at national level, following Bucharest & Ilfov. This is no surprise given the strategic location in the center of the country, attracting residents from surrounding areas, and the touristic potential of the area.

The most developed areas are Bartolomeu, Tractorul and Noua-Darste. The inauguration of the international airport last year has opened the potential of the area and Bartolomeu district is expanding to the border with Ghimbav. With the support of our partner imobiliare.ro we have drafted an analysis for the new residential market in Brasov based on the data from January and February 2024.

Comparing 2024 with 2023, the biggest increase is for two rooms (16%), followed by three rooms (9%). The demand for four-room apartments has dropped by 4%, while the demand for studios has seen the biggest decrease, by 11%.

Demand

In the first two months of 2024, the biggest increase of new units’ offer is for four rooms apartments (33%) followed by two rooms (14%). The three rooms offer has raised by 6%, while the offer for studios had dropped by 4%, compared to the previous year.

Offer

The prices have maintained a steady increase, with 12% in 2024 vs 2023. Medium price for new units is 2,053 Euro/net sqm + VAT.

Prices
Brasov land market overview

Brasov land market overview
Brasov land market overview 7240 7240 ROMANIA PROPERTY CLUB

12.04.2024

An analysis by Florin Ciche, Remax Central

The city of Brasov continues to develop real estate in all segments and the future perspective looks very good.

Brasov land market overview

From the point of view of residential developments, new areas of interest have opened up today. If until now the strongest development was in the Tractorul district, today there is new interest in other areas.

One of them is the western part of the city. The opening of the Brasov Ghimbav International Airport has opened the potential of the area and the Bartolomeu district is expanding outwards to the border with Ghimbav.

A second area is the southern part of the city, the entrance from Bucharest, namely the Noua district and the Calea Bucuresti commercial area up to the border with the Astra district. The reconversion of the former Roman platform, as well as the vacant land in the immediate vicinity have come to the attention of developers and in the near future will appear new mixed projects, residential and partially retail and office.

Industrially, the main direction of development of Brasov is towards the West, obviously due to the development of infrastructure, the future motorway to Sibiu, and the airport, next to which the North area, the exit to Targu Mures is becoming more and more sought after for industrial/logistic developments.

Retail land follows the other developments, so the West, North and South areas of the city still offer land where retail parks can still be developed.

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Prices differ according to existing regulations.  

RPC Talks with Liviu Zarnovean, Managing Partner, DART Architects
RPC Talks with Liviu Zarnovean, Managing Partner, DART Architects 816 811 ROMANIA PROPERTY CLUB

RPC Talks to Liviu Zarnovean

Managing Partner, DART Architects

Liviu Zarnovean Dart Architects

Profile of the Company

“Dart Architects, rooted in the Brasov region, champions a pragmatic approach to architecture, emphasizing the harmonious integration of structures within their context and the innovative use of technology in project and process management. Our expertise lies in navigating the intricate web of interests between investors, regulatory frameworks, and the community, striving for solutions that mediate these often unspoken conflicts. As advocates for constructive collaboration, we aim to transcend client expectations by blending thoughtful design with effective management, moving towards incorporating sustainability into our broader strategic vision.”

Most Representative Projects in Our Portfolio

Over the past 27 years, Dart Architects has cultivated a rich portfolio that spans a wide spectrum of architectural endeavors, from intimate residential spaces to large-scale commercial and urban developments. Our specialization lies in not just designing but meticulously managing projects of significant scope and complexity, ensuring each embodies our commitment to architectural excellence and pragmatic innovation.

Among the hundreds of projects we have completed to date, the following stand out:

– 9Nine Office Building: 9Nine stands as a beacon in Brasov, blending cost-efficiency with architectural grace, crowned by a uniquely curved top-level restaurant offering unmatched city views.

– T39 Hall Conversion at Flavus – Coresi: Transforming an industrial relic into a bustling business hub, T39 hall marries historical integrity with modern functionality, creating an inviting office space surrounded by green, leisure, and social zones.

– Bergs Residential Complex: Combining energy efficiency with visual harmony, the Bergs Residential Complex features a six-slope roof design that integrates seamlessly into the local landscape, offering panoramic mountain views amidst a sustainable living environment.

– Sky Towers: Envisioned as a residential gateway to Brasov, Sky Towers sculpturally draws from the landscape, proposing living spaces that seem to emerge from the earth itself, set atop a communal base that breathes life into the city’s western entrance.

Opportunities for Brasov Real Estate Market

The real estate market in Brasov presents fertile ground for projects that embody Dart Architects’ ethos of pragmatic architecture and meaningful community integration. With our unique ability to mediate between diverse interests, we see potential for developments that not only enhance the urban fabric but also respect and rejuvenate their environmental context. Our focus on creating spaces that resonate with people and place positions us to lead Brasov towards a future where architecture fosters community, connectivity, and sustainable living.

Poiana Brasov

A record number of 1,300 hotel rooms are under development in Brasov
A record number of 1,300 hotel rooms are under development in Brasov 2560 1707 ROMANIA PROPERTY CLUB

11.04.2024

The impact of last year’s international airport inauguration in Brasov is visible: a record number of 1,300 hotel rooms, internationally affiliated, are under development with delivery dates between 2024 and 2028.

Poiana Brasov

Currently, the hotel market in Brasov County has 128 units, out of which 56 are in Brasov and Poiana Brasov. Only 5.2% of total number of rooms are 5-stars, while 44.5% of total number of rooms are 4-stars and 44.01% of total number of rooms are 3-stars.

Hotel 1

Source: Ministry of Tourism, Total number of hotels in Brasov County

Sosiri Hoteluri

Source: INS, Est Hospitality

The information for Brasov, gathered by RPC from Est Hospitality, a tourism consultancy company, shows that:

  • In 2023, tourist arrivals and overnights are still below the levels of 2019.
  • As compared to 2022, the market increased with 10% at arrivals and overnights.
  • The trend is very positive, and it is expected to continue in the coming years due to increased traffic at Ghimbav Brasov International airport, the pipeline of new branded hotels, the number of festivals, increased number of MICE events (Meetings, Incentives, Conferences and Exhibitions).
Pipeline Hoteluri

Mircea Draghici, Managing Partner, Est Hospitality: “The number of hotel rooms internationally affiliated will increase with 22.1% in the next three years. The number of hotel rooms on 5-star category will increase with 128% over the next three years.”

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