Bucharest Office Rents Rise Amid Severe Supply Shortage

Office rents in central Bucharest rose by nearly 12% year-over-year as of June 2026, increasing from 16 to 18 euros per square meter. Prime rents in the central business district have reached between 21 and 26 euros per square meter. This price surge follows a severe supply drought, with no new office projects delivered in the first half of 2026 or throughout the entirety of 2025.

Victor Coșconel, a partner at Colliers, notes that the market is sending contradictory signals where leasing volumes remain modest—similar to 2020-2021 levels—yet rents for high-quality space continue to climb. While the overall vacancy rate rose to 12.25%, this increase is concentrated in peripheral areas like Pipera. In contrast, central vacancies remain low, often in the single digits, with the central business district vacancy rate at approximately 4%.

Leasing activity in the first half of 2026 totaled 109,500 square meters, with new transactions, expansions, and pre-leases accounting for 73% of activity. The IT&C sector remains a primary driver, leasing over 30,500 square meters, while demand has diversified to include energy, construction, and Western European service centers. Notable recent activity includes a 9,600 square meter expansion by Rohde & Schwarz Topex S.A. and pre-leases by Veolia and Strabag.