Bucharest office market H1 2026: Net take-up rises as vacancy continues to decrease
Romania's Bucharest office market recorded 77,500 sqm of net take-up in H1 2026, up over 43% year on year, while vacancy fell to 10%. Prime rents held steady at €22/sqm/month.
Romania's Bucharest office market recorded strong momentum in H1 2026, with net take-up reaching 77,500 sqm, an increase of over 43% compared to the same period last year. Total gross take-up remained broadly in line with H1 2025, but the shift toward net take-up points to genuine demand rather than relocations.
Vacancy continued its downward trajectory, falling to 10.0%, down 170 bps year on year. Consumer Goods & Manufacturing and IT & Telecom together generated 60% of leasing demand, followed by Finance, Banking & Insurance at 12%. Key transactions included Rohde & Schwarz Topex's renewal and expansion at Iride Park 19, Veolia's pre-lease at Green Court Bucharest D, and Engie's relocation and expansion at Matei Millo 8.
Construction activity resumed after a period of limited delivery, with 224,000 sqm currently under construction, up 32% year on year, though completions remained at zero for the period. Prime rents held steady at €22/sqm/month, with headline rents across submarkets ranging from €15.5 to €22.0/sqm/month.
Oliver Derksen, Head of Office Advisory at iO Partners Romania, noted that while total leasing volumes stayed broadly in line with the prior year, net take-up rose by over 40%, vacancy continued its downward trajectory, and Q2 saw the return of large pre-lease transactions in a supply-constrained market.
Head of Office Advisory
