Bucharest Office Market, 9M 2026: Net take-up grows 6% to over 93,000 sqm

Bucharest, 7 October 2026. Net take-up in Bucharest exceeded 93,000 sqm during the first nine months of the year, marking a 6% increase compared to the same period in 2025, according to data from Crosspoint Real Estate, the International Associate of Savills in Romania. Total office leasing activity reached 140,388 sqm, down 14% year-on-year. Of the total transacted volume, 67% represented new leases, 32% lease renewals and 1% subleases.

"While companies remain focused on cost efficiency, we are seeing office-related decisions increasingly influenced by factors such as team collaboration, employee experience and the ability to attract and retain talent. The office continues to play an important role in the growth strategies of many organisations, and this is reflected in the level of new demand we are seeing across the market", said Mădălina Marinescu, Head of Office Agency at Crosspoint Real Estate.

The structure of net demand points to an active and diversified market. New market entrants accounted for 42% of leased space, while 22% came from expansions and 36% from relocations. In addition, the substantial pipeline of office projects expected to be delivered over the coming years has supported the return of pre-leasing activity, which accounted for 20% of net demand following an extended period with very limited new supply.

From a location perspective, the most sought-after office submarkets were Floreasca-Barbu Văcărescu, which attracted 33% of demand, followed by Centre-West with 25% and CBD with 13%.

Sector analysis shows that technology companies generated the largest share of demand, accounting for 34% of leasing activity, followed by energy and industrial companies at 26% and financial services at 9%.

At the same time, the average leased office area declined to below 1,000 sqm, compared with 1,364 sqm during the same period last year. This trend reflects both the consolidation of hybrid working models among major occupiers and workforce adjustments recorded in certain sectors, prompting companies to optimise their real estate requirements.

Despite this shift, occupiers' location preferences have remained largely unchanged. Approximately 72% of office transactions completed in 2026 involved buildings located within 500 metres of a metro station, highlighting the continued importance of accessibility.

"Companies are becoming more precise in assessing their space requirements, but they are not compromising on location or building quality. Easy access to public transportation, modern technical specifications and employee-focused amenities remain essential criteria in the decision-making process", added Mădălina Marinescu.

A relevant example of current market dynamics is the transaction through which Rohde & Schwarz Topex renewed its lease for approximately 8,000 sqm and expanded by an additional 2,000 sqm at myhive IRIDE | nineteen in Bucharest, bringing its total footprint to approximately 10,000 sqm. Brokered by Crosspoint Real Estate, the transaction highlights that growth-oriented organisations continue to invest in office environments capable of supporting long-term expansion.

On the supply side, the third quarter of the year marked the delivery of the first new office building after an 18-month period without completed projects: One Technology District, a development of more than 20,000 sqm built for Infineon Technologies. Although no further major completions are expected before year-end, the office development market is projected to regain momentum in 2027 and 2028, with nine new projects scheduled to deliver nearly 200,000 sqm of office space. Until these schemes are completed, vacancy is expected to remain below 10%, particularly within modern, well-located office assets.

Romanian market data is broadly aligned with the findings of Savills’ Global Occupier Strategy 2026, which surveyed business leaders and corporate occupiers worldwide. The report shows that nearly two-thirds of respondents view the workplace either as a competitive advantage or as a critical component of organisational culture. Companies also allocate an average of 8.4% of revenue and 12.5% of operating expenditure to workplace-related costs.

The report also highlights a gap between perception and measurement. While almost all organisations believe that the office contributes positively to collaboration and business performance, fewer than half say they are able to quantify these benefits effectively.

"Both the Savills report findings and what we are observing in Romania point in the same direction. The discussion is no longer exclusively about how many square metres a company occupies, but about the value that space creates for the organisation. This is one of the reasons why high-quality, well-connected office buildings continue to attract strong occupier interest, even in a more cautious economic environment", concluded Mădălina Marinescu.

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Economedia

Forbes România

Romania Insider