Q4 2025: Lower Vacancy Sets the Stage for Bucharest’s Next Office Deliveries
Q4 2025 highlights tightening availability in Bucharest’s office market, with vacancy continuing to decline and headline rents holding steady across key submarkets. With no new completions delivered, supply pressure eased while the development pipeline expanded, supporting the next wave of office deliveries in 2026 and a more constructive outlook ahead.
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Bucharest’s office market recorded more moderate activity in 2025, with total gross take-up reaching around 248,000 sqm and net take-up 128,200 sqm, down year-on-year. Demand remained diversified, led by consumer goods & manufacturing and IT & telecommunications, followed by professional and BPO services. While overall absorption slowed compared to the previous year, transaction activity continued across multiple sectors and deal types, including pre-leases and renewals.
On the supply side, no new office projects were delivered during 2025, keeping total stock at approximately 3.38 million sqm. As a result, the vacancy rate continued to decrease, reaching 10.6% in Q4, while headline rents remained unchanged across major submarkets. At the same time, the development pipeline expanded significantly to about 198,000 sqm under construction, pointing to a new delivery cycle expected to materialise in 2026.
Looking ahead, the combination of tightening availability, stable pricing and an active pipeline supports expectations of gradually improving market confidence, as new projects approach completion and occupier requirements continue to evolve.
Head of Office Advisory
