Prime office rents in Bucharest reached €23 per sqm per month in Q3 2026, a 9.5% year-on-year increase, according to Cushman & Wakefield Echinox. That compares with average growth of 5% across Europe and 7.3% in Central and Eastern Europe over the same period. The rise is driven by limited availability of quality space in the most sought-after submarkets, against a backdrop of new supply that is only gradually returning after two years without a single office completion.
Asking rents have increased across most of Bucharest's office submarkets, particularly at the upper end of ranges. In the CBD, covering the area between Charles de Gaulle Square and Romana Square, Class A rents rose from €20–21 per sqm per month in Q3 2025 to €21–23 per sqm per month in Q3 2026. In Floreasca–Barbu Văcărescu the range moved from €15.5–18.5 to €16.5–21 per sqm per month, while in Dimitrie Pompeiu it increased from €11–13 to €12–15 per sqm per month. Boutique buildings in the most sought-after locations are now commanding rents of €26–28 per sqm per month.
"This rental growth reflects the changing balance between occupier demand and the availability of high-quality office space across certain areas of Bucharest. Following a period of very limited new supply, companies now have fewer options in competitive buildings located in submarkets with low vacancy rates. Despite more cautious demand, the limited availability of quality space continues to support rental growth in the most sought-after locations. At the same time, new developments are being delivered to higher technical and sustainability standards, against a backdrop of rising construction costs. As a result, we expect rental levels to become increasingly differentiated depending on building quality, efficiency and location," said Mădălina Cojocaru, Partner, Office Agency, Cushman & Wakefield Echinox.
Bucharest's overall office vacancy rate fell by 1.2 percentage points year-on-year to 11.6% in Q3 2026, though conditions vary sharply by submarket. In Floreasca–Barbu Văcărescu vacancy dropped from 8.6% to 5.8%, and in the CBD it remained below 5%, while Expozitiei recorded 23.1% and Pipera North 36%. Q3 2026 brought Bucharest's first office completion in two years, with the delivery of One Technology District, comprising 21,500 sqm fully leased to Infineon Technologies. Around 195,000 sqm of office space is currently under construction, up from 169,500 sqm a year ago, with deliveries scheduled through to the end of the first half of 2028.
Gross take-up in the first nine months of 2026 reached approximately 162,000 sqm, down 18% compared with 197,200 sqm in the same period of 2025. In Q3 alone, take-up was 52,500 sqm, around 31% below the 75,800 sqm recorded in Q3 2025. Despite the overall decline, new leases accounted for 66% of transaction volume in the first nine months of 2026, up from 52% in the same period of 2025, with the remainder consisting of renewals and renegotiations.
