Bucharest Offices Hold Steady as Prime Rents Climb and Supply Tightens

FM newsroom – office market. Bucharest’s office sector is holding its ground in 2025, with stable vacancy rates, rising prime rents, and a shrinking development pipeline shaping a market where quality space in top locations remains in high demand.

By the end of Q2 2025, the overall vacancy rate was 13.4%, largely unchanged from recent quarters. Demand remains concentrated in core locations such as the CBD, where vacancy is just 5.1%, and the Centre, at 4.0%. In contrast, fringe areas like Pipera North and Expozitiei are grappling with much higher availability, at 38% and 25.6% respectively, reflecting a clear divide between prime and peripheral submarkets, according to the Cushman & Wakefield Echinox Marketbeat report.

Rents Push Higher Amid Stronger Leasing

Prime headline rents have reached €21 per square meter per month, led by centrally located properties, while peripheral districts offer rates from €9. Leasing activity gained momentum in H1 2025, totalling 121,400 square meters. Significant transactions included BCR Erste’s renewal and expansion at The Bridge 1, Leroy Merlin’s entry into Floreasca Park, and NN Romania’s lease at One Cotroceni Park 2.

Supply Pipeline Narrows

No new office projects were completed in the first half of the year, and the pipeline under construction has contracted to 129,000 square meters. Notable schemes underway include Timpuri Noi Square II, ARC Project, and Promenada Offices. This measured approach to new supply is expected to ease upward pressure on vacancy in oversupplied areas.

Investment Activity Signals Confidence

The investment market remains active, with transactions such as the sale of Equilibrium 1 and Ethos House underlining ongoing interest in Bucharest’s office assets. With restrained supply, steady demand, and climbing prime rents, the market is on track for a gradual improvement in occupancy, with best-located, ESG-compliant buildings likely to lead the way.

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