Commercial rented residential asset class gaining momentum in Romania

More than fifty senior professionals from Romania’s real estate market, together with international investors, lenders and operators, gathered in Bucharest to discuss the present and future of rented residential, with contributions from Bucharest City Hall, Raiffeisen Bank, AFI Romania and other leading market participants.

BUCHAREST, Romania – Industry leaders gathered in Bucharest for the Rented Residential Forum 2026 to discuss the development and financing of modern private rental housing in Romania and the growing role of institutional investors in the sector.

Organised by BONARD, a global provider of private rented residential market data, the Forum explored Romania’s position within the broader Central and Eastern European living sector and the structural conditions shaping institutional rental housing.

According to BONARD’s analysis, more than 220,000 mobile residents in Romania require accommodation, while the supply of modern institutionally operated rental housing remains extremely limited.

Forum participants noted that the commonly cited 6% rental share significantly understates the real scale of renting in major cities. When accounting for all forms of renting, more than 20% of residents in Bucharest live in rental accommodation, reflecting strong demand for flexible housing options in the capital.

Existing projects already demonstrate the strength of this demand. Participating operators, including AFI Romania and WeRent, reported occupancy levels above 95%, supported by strong tenant demand and competitive rental levels. Participants noted that these projects confirm a key market assumption: demand for professionally managed rental housing in Romania is strong, even though institutional supply remains limited.

Against this backdrop, purpose-built student accommodation (PBSA) emerged as the most immediate investment opportunity, as professionally managed private supply remains very scarce. Compared with leading Central European student hubs, Bucharest’s stock of quality private PBSA remains well below potential demand. All existing private stock dates from before 2014 and is generally of lower quality, while 89% of total PBSA beds are in non-private residences (university dormitories).

At the same time, shifting expectations among students – including increased sensitivity to quality, flexibility and affordability – are creating a clear opportunity for professionally operated PBSA properties aligned with international standards. Delivering such projects at scale will require disciplined underwriting, careful rent positioning and alignment with local purchasing power.

The Forum also examined the outlook for the build-to-rent (BTR) segment. With residential purchases cooling amid rising financing costs and the VAT increase introduced in August 2025, and with the rent-to-income ratio trending downward, renting is becoming a more attractive option for younger and more mobile households in Bucharest.

BONARD also presented examples from more mature markets in the CEE region, particularly Poland, where institutional rental housing and student accommodation have expanded rapidly in recent years in response to rising mobility, urbanisation, housing affordability pressures and robust investment liquidity. Within CEE, Poland has also been a key market for secondary investment transactions in the living sector, including the sale of BTR portfolios such as Resi4Rent, as well as student accommodation assets.

Samuel Vetrak, CEO of BONARD, commented:

“Romania’s rented residential market presents a clear structural gap between demand and modern supply. The fundamentals are in place. The next step is the delivery of the first high-quality assets that can establish credible benchmarks for long-term institutional capital.”

Participants agreed that both public authorities and private investors are increasingly recognising the potential of the rented residential asset class in Romania, highlighting the need for professionally managed rental housing.

The Forum received strong engagement from the market, bringing together key stakeholders to discuss the sector at a professional level and underscoring the importance of transparent data and international benchmarks in supporting its development.

If you are interested in the presentation from the event containing insights from Romania's market, you can request the presentation on the link below:

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About BONARD

BONARD is an independent data company specialising in private rental housing, including student housing, senior living, co-living, and build-to-rent. It provides building-level data and benchmarking across Europe to support informed investment and development decisions.

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