A gross take-up of 51,300 sq. m was registered in Bucharest in Q1 2025, reflecting a y-o-y decrease of 44%, but demand is forecasted to accelerate starting from H2, when a series of major deals are due to be signed. The net take-up had a share of 64% in the Q1 demand, the highest percentage since Q1 2022, according to Cushman & Wakefield Echinox data.
The vacancy rate in Bucharest office market continued its downward trend, reaching 13.6% (the lowest level since Q2 2021). This indicator is expected to further decrease, as no large or medium – sized office building is due for completion in 2025.
Overall, the under construction pipeline in Bucharest is relatively low (132,300 sq. m GLA) and most projects are slated for completion in 2026 and 2027, representing 11% of the area under construction in CEE capitals, totaling approximately 1,190,000 sq. m.
The prime rents Bucharest remained stable in Q1, between €20.00 – 21.00/ sq. m/ month in CBD, while the benchmarks for other submarkets ranged between €15.00 – 18.00/ sq. m/ month and €9.00 – 13.50/ sq. m/ month in central/ semi – central and peripheral locations.
Bucharest offices remain among the cheapest in the region, with only Sofia and Bratislava recording lower levels (€19/ sq. m/ month and €20/ sq. m/ month, respectively). Prague is the most expensive market in the region, with a headline rent of €30/ sq. m/ month, followed by Warsaw and Budapest, each with €25/ sq. m/ month.