Corporate Expansion in Bucharest: Over 7,000 Additional Workers to Flock to Rented Office Spaces by Mid-2025
Bucharest's Office Market Shows Solid Growth in Q2 2025
Bucharest's office market has demonstrated robust growth in the first half of 2025, with leasing activity, decreasing vacancy rates, ongoing construction, and stable rental levels.
Leasing Activity
In the first half of 2025, over 64,300 sqm of net office space was leased, accommodating more than 7,000 new employees. Q2 alone registered a significant increase, with 31,449 sqm take-up. The IT&C sector led the demand, followed by FMCG and financial services.
Construction
Currently, around 132,300 sqm of office space is under construction, with 90% expected to be delivered in 2026–2027. Only about 7,000 sqm remains under construction for the rest of 2025, and there are no new deliveries expected in 2025 itself.
Vacancy Rates
Vacancy declined to 13.4% at the end of Q2 2025, the lowest level since Q2 2021. Vacancy is expected to decrease further by year-end due to no new supply arrivals and ongoing absorption of available space, particularly in central and CBD submarkets.
Rental Levels
Rents in the CBD averaged between €20.00 and €21.00 per sqm/month and ranged €15.00–18.00 in central/semi-central locations and €9.00–13.50 on the periphery. There were no significant rental changes in Q2 2025, but moderate rent growth is anticipated in landlord-favored, low-vacancy submarkets like CBD and city center.
Outlook
Cushman & Wakefield Echinox expects mild rental growth in landlord-favourable areas such as the CBD and city center, driven by low availability and continued interest from tenants seeking efficient, well-located spaces. Mădălina Cojocaru, Partner at C&W Echinox's Office Agency, stated that despite a dip in gross leasing activity, the market remains fundamentally strong.
As of Q2 2025, more than 340,000 employees are working in modern A and B Class office buildings in the capital, representing nearly one-third of the city's workforce. With the ongoing growth and development in the office market, this number is expected to increase significantly by the end of 2027, potentially reaching nearly 360,000 employees.
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The financial services sector has been one of the key drivers of leasing activity in Bucharest's office market, contributing to the robust growth seen in Q2 2025. The ongoing construction of around 132,300 sqm of office space, with 90% expected to be delivered in 2026–2027, indicates a continued advancement in the business sector of Bucharest, fueled by steady investment and development.
