Marketbeat Bucharest Office Q3 2026
Bucharest, November 2026: Bucharest’s prime headline office rent reached €23/ sq m/ month in Q3 2026, up 9.5% year-on-year, compared with average increases of 5% across Europe and 7.3% in Central and Eastern Europe (CEE) respectively, according to data from Cushman & Wakefield Echinox.
This evolution comes amid limited availability of high-quality office spaces in the submarkets most sought after by occupiers, while the development activity is gradually resuming following a period of exceptionally limited new supply.
In Q3 2025, Bucharest’s prime headline office rent stood at €21/ sq m/ month, with rental levels remaining relatively stable across the market. Since then, asking rents increased in most of the capital city’s office submarkets, particularly at the upper end of the range.
In CBD (which covers the area between Charles de Gaulle Square and Romana Square) asking rents for existing Class A office buildings increased from €20 – 21/ sq m/ month in Q3 2025 to €21 – 23/ sq m/ month in Q3 2026, according to the Bucharest Office Marketbeat Q3 2026.
In Floreasca – Barbu Vacarescu asking rents rose from €15.5 – 18.5 to €16.5 – 21/ sq m/ month, while in Dimitrie Pompeiu they increased from €11 – 13 to €12 – 15/ sq m/ month.
Moreover, the asking rents for boutique office buildings and trophy assets in Bucharest’s best performing locations can currently reach €26 – 28/ sq m/ month.
Madalina Cojocaru Partner, Office Agency, Cushman & Wakefield Echinox: “This rental growth reflects the changing balance between occupier demand and the availability of high-quality office spaces 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 high-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.”
Bucharest’s overall office vacancy rate decreased by 1.2 percentage points, from 12.8% in Q3 2025 to 11.6% in Q3 2026, although significant differences remain between submarkets.
In Floreasca – Barbu Vacarescu, the vacancy rate fell from 8.6% to 5.8%, while in the CBD it remained below 5%. At the other end of the spectrum, vacancy reached 23.1% in Expozitiei and 36% in Pipera North.
These differences lead to an increasingly segmented market, with greater upward pressure on asking rents in locations and buildings where the availability of competitive office spaces is limited.
At the same time, the development activity is gradually resuming. Q3 2026 marked Bucharest’s first office completion in two years, with the delivery of One Technology District, comprising 21,500 sq m GLA and fully leased to Infineon Technologies.
Approximately 195,000 sq m of office spaces are currently under construction, compared with 169,500 sq m one year ago. The projects included in this pipeline are scheduled for completion by the end of H1 2028.
However, the buildings in question are being marketed at slightly higher asking rents than comparable existing projects, reflecting rising construction costs and the investments required to meet increasingly demanding technical and ESG standards.
Bucharest recorded a gross take-up of approximately 162,000 sq m in the first nine months of 2026, down 18% compared with the 197,200 sq m registered during the corresponding period of 2025.
In Q3 alone, gross take-up reached 52,500 sq m, approximately 31% below the 75,800 sq m recorded in Q3 2025.
However, the structure of demand indicates a notable shift. Net take-up accounted for 66% of the total transaction volume during the first nine months of 2026, compared with 52% in Q1 – Q3 2025, representing an increase of 14 percentage points. The remainder consisted of lease renewals and renegotiations.
From a European perspective, Bucharest continued to outperform most markets, as the prime office rents increased by 5% year-on-year across Europe and by 7.3% in CEE, compared with 9.5% in Bucharest.
This evolution highlights the increasingly differentiated positioning of high-quality office spaces in a market where occupiers are becoming more selective and a new generation of projects is being developed to higher technical and sustainability standards, against a backdrop of higher development costs.
