Q3 2026 Market REcap: Bucharest Office Market
Vacancy fell to 9.6% in Q3 2026, the first single-digit reading since 2020. Gross take-up is down 7.6% YTD, yet net take-up rose 18% as tenants favor quality space and pre-leases.
Bucharest’s office market is tightening. Vacancy fell to 9.6%, its first single-digit reading since 2020, and the first new building in almost two years, One Technology District, was fully pre-leased. Only 195,000 sqm is under construction, so new supply stays limited.
Demand is lower but higher in quality. Gross take-up is down 7.6% YTD at 146,000 sqm, yet net take-up rose 18% to 99,700 sqm. Consumer goods, manufacturing and professional services drove over 40% of leasing.
Prime rent held at €22 per sqm per month, but falling vacancy is creating pressure on rents, especially in the CBD, Center and Floreasca-Barbu Vacarescu, where vacancy is around 4-5%.
Head of Office Advisory
