The average office fit-out costs in Bucharest increased by 12% in 2024 compared with the previous year, surpassing the EUR 1,000/ sq. m threshold. This evolution aligns with regional trends, as most capital cities have seen cost increases ranging between 8-15%, according to data from the Cushman & Wakefield Echinox.
Despite these increases, Bucharest remains one of the most competitive office markets in the CEE region, with an average fit-out cost of EUR 1,056/ sq. m, including all interior works across various specialties, building management systems (BMS), furniture, audio-video equipment, professional services (project management, health and safety coordination and site supervision), as well as contingency costs.
Depending on the complexity of the project, materials and solutions used, as well as how the space is delivered to the tenant, fit-out budgets can range from approximately EUR 800/ sq. m to nearly EUR 1,600/ sq. m. The largest share of costs comes from architectural and installation works (50%) and furniture (approximately 28%), both of which being significantly impacted by price increases.
In comparison, fit-out costs in Romania’s Capital City are 17% lower than in Warsaw (Poland) and 14.5% below those in Prague (Czech Republic), maintaining the city’s appeal for companies setting up offices in this part of Europe.
The most expensive office fit-out markets in Europe include London (UK) – EUR 2,671/ sq. m, Hamburg – EUR 2,512/ sq. m, Munich – EUR 2,432/ sq. m, Frankfurt – EUR 2,408/ sq. m and Berlin – EUR 2,333/ sq. m. (all in Germany).