Romania Bucharest office market down 31 pct on H1 2024

Our results for the first half of the year confirm Crosspoint’s strategy to strengthen its office division, and the leasing transactions we completed in the first six months of 2025 align with market trends in terms of the sectors generating the highest demand.
Valentin Neagu, managing director at Crosspoint Real Estate

Of the total area leased by Crosspoint Real Estate this year, two-thirds consists of office space in Bucharest leased by companies in tech, military equipment production, and agricultural finance. This signals that Romania continues to be seen as a stable and attractive business environment. The remaining third refers to a transaction of over 2,000 sqm in Cluj-Napoca, where a technology company renewed its existing lease.

In the first half of the year, we witnessed a rebound in interest from IT companies for office space. Whereas previously they were more conservative when it came to leasing larger spaces, we now see a clear trend toward expansion and development. This shift is also reflected in the increased physical presence at the office, another positive indicator that the market is regaining momentum and that confidence in economic prospects is strengthening.
Mădălina Marinescu, head of office agency at Crosspoint Real Estate

In H1 2025, the total office space leased in Bucharest amounted to 112,225 sqm, marking a 31 pct decline compared to the same period in 2024. Net take-up – meaning new leases excluding renewals and subleases – accounted for 56 pct of that total, or 62,718 sqm, down 23 pct year-over-year.

After a period where the tech sector led demand for office space, H1 2025 saw increased interest from the financial-banking sector, which represented 31 pct of total demand. Tech followed with 16 pct, then professional services (15 pct), consumer and leisure services (12 pct), and business services (10 pct). Despite the shift, the Tech sector continues to lead in net demand, with new leases of more than 13,000 sqm in Bucharest in the first half of the year.

Lower demand for new office space kept the vacancy rate close to 12 pct, despite the absence of major project deliveries during this period. Rents remained stable in H1, with prime monthly rents holding at EUR 22 per sqm.

Starting in Q3, we anticipate that higher taxes, rising energy prices, and accelerating inflation will directly impact both rent levels and maintenance costs for office spaces. These factors will further pressure demand, which has already been moderate this year, affecting companies’ appetite for expansion or relocation.
Ilinca Timofte, head of research at Crosspoint Real Estate.

The most sought-after office hubs in the capital remain the Centre-West area (32 pct of total H1 leasing activity), the Central Business District (24 pct), and the Floreasca-Barbu Văcărescu area (20 pct).