Companies leased 197,200 sq.m of office space in Bucharest during the first nine months of 2025, with more than half of the volume representing new demand, according to the Bucharest Office Marketbeat Q3 2025 report released by Cushman & Wakefield Echinox.
The 25% decline in leasing came during a year with no new office deliveries, a factor that drove the city’s vacancy rate down to 12.8%, its lowest level since Q4 2020. Bucharest’s modern office stock currently totals 3.429 million sq.m, accounting for 15% of all office space in CEE.
Across the region, Warsaw remains the largest market with 28% of CEE stock, followed by Budapest at 20%, Prague at 18%, Sofia at 11%, and Bratislava at 8%. The regional vacancy rate stands at 11.06%, with the highest levels in Bratislava (14.47%), Budapest (13.45%) and Sofia (12.86%). Prague and Warsaw report vacancy below 10%.
In Q3 alone, Bucharest recorded 75,800 sq.m of leasing transactions, the highest quarterly volume of 2025. Demand was concentrated in the city’s major business districts: Center-West led with 23%, followed by Floreasca–Barbu Văcărescu with 18%.
Following two years of minimal development, construction activity picked up in Q3 with two new office buildings breaking ground, expanding Bucharest’s pipeline to 169,500 sq.m GLA scheduled for delivery by the end of 2027.
Bucharest new office projects
- Timpuri Noi Square – new phase (55,000 sq.m) by Vastint;
- ARC Project (30,000 sq.m) by PPF Real Estate;
- Promenada Offices (23,400 sq.m) by NEPI Rockcastle;
- One Technology District (20,600 sq.m) by One United Properties;
- AFI Central Tower (28,000 sq.m) – redevelopment of the former Bancorex headquarters by AFI Europe;
- U-Center III (12,500 sq.m) by Forte Partners.
Articolul Bucharest office leasing drops 25%, vacancy hits lowest level since 2020 a fost publicat prima dată în Money Buzz! • Știri Economice, Știri Financiare, Știri Business