Bucharest is emerging as a primary destination for multinational corporations looking to establish Global Capability Centres (GCCs) due to lower office leasing rates and salary costs, finds a study conducted by Savills and CoreNet Global.
Annual office costs in tech-focused areas of Bucharest average €252 per sqm, making it the 14th most cost-efficient GCC destination worldwide and the third most cost-effective office market in Europe.
”IT&C, BPO and SSC companies have consistently represented a significant share of office demand, making up over 40% of the market. With sustainability becoming an increasingly important differentiator, Bucharest has the advantage of over 65% of its modern office stock holding green certifications”, added Mădălina Marinescu, Head of Office Agency at Crosspoint Real Estate, Savills International Associate in Romania
Beyond real estate, the cost advantage extends to salaries. The report found that salary costs for entry-level STEM and customer support roles in GCC markets are around 73% lower than those in cities like New York and London. This combination of competitive office and salary costs makes Bucharest an attractive, future-ready hub for GCCs in Europe.
