After a slower first quarter, with just 51,300 square meters transacted, demand started to pick up in Q2, posting a 37% advance to 70,100 square meters, reads the Office Marketbeat Q2 2025 report published by real estate consultancy Cushman & Wakefield Echinox.
Against net demand (not including renegotiations), it held a robust 53% weight in H1 transactional activity, while Bucharest vacancy rate continued its downward trend, reaching 13.4% (the lowest level since Q2/2021).
C&W Echinox consultants say the vacancy rate is expected to decline further until yearend, given that in 2025 no new office building will be delivered, and new demand will mainly focus on vacant spaces in existing buildings.
“Bucharest office market remains solid even as total take-up registered a temporary decline,” says Madalina Cojocaru, Partner, Office Agency C&W Echinox.
In terms of rent evolution in the first half of the year, no significant moves were registered.
In line with C&W Echinox data, the number of employees in Bucharest A and B-class office buildings topped 340,000 at the end of the first half, accounting for around 30% of total Bucharest headcount.
Also, at present projects totaling 132,000 square meters are under construction, an area of which more than 90% is set to be delivered in 2026 and 2027, meaning offices for another 15,000 employees. Thus, the number of employees in Bucharest modern office buildings is likely to climb toward 360,000 by end-2027.
(English version by Catalina Apostoiu)