Thursday, 13 November 2025
Developers have restarted construction activity in Bucharest’s office sector, with nearly 170,000 sqm of new space now under development and scheduled for delivery by the end of 2027, according to the latest Bucharest Office Marketbeat Q3 2025 report by Cushman & Wakefield Echinox.
Leasing activity reached 197,200 sqm in the first nine months of 2025, with more than half representing new demand. The volume is 25% lower year-on-year, but in a period without new completions the vacancy rate dropped to 12.8%, the lowest level recorded since late 2020. Demand was strongest in the Central–West submarket, followed by Floreasca–Barbu Văcărescu, Dimitrie Pompeiu and the CBD.
The total modern stock in Bucharest amounts to 3.43 million sqm, accounting for 15% of the office inventory in Central and Eastern Europe. Warsaw remains the largest market with 28% of the regional stock, followed by Budapest (20%) and Prague (18%).
Two new projects started construction in Q3, increasing the volume of active developments to 169,500 sqm. New supply will be concentrated in established office zones:
Timpuri Noi Square – phase (55,000 sqm) / Vastint
ARC Project (30,000 sqm) / PPF Real Estate
Promenada Offices (23,400 sqm) / NEPI Rockcastle
One Technology District (20,600 sqm) / One United Properties
AFI Central Tower (28,000 sqm) / AFI Europe
U-Center III (12,500 sqm) / Forte Partners
Headline rents remained stable in Q3. Prime rents in the CBD were in the range of €20.00–€21.00/sqm/month, with central and semi-central areas between €15.00–€18.50/sqm/month and peripheral locations between €9.00–€13.50/sqm/month. Cushman & Wakefield Echinox expects moderate rental growth over the next 12–18 months in submarkets with low vacancy and active development pipelines, including the CBD, Center, Center–West and Floreasca–Barbu Văcărescu.
Source: Cushman & Wakefield Echinox
