Net office leasing demand in Bucharest exceeded 93,000 sqm during the first nine months of the year, marking a 6% increase compared to the same period in 2025, according to data from Crosspoint Real Estate, the International Associate of Savills in Romania.
Total office leasing activity reached 140,388 sqm, down 14% year-on-year. Of the total transacted volume, 67% represented new leases, 32% lease renewals and 1% subleases, according to the same source.
New market entrants accounted for 42% of leased space, while 22% came from expansions and 36% from relocations.
In addition, the substantial pipeline of office projects expected to be delivered over the coming years has supported the return of pre-leasing activity, which accounted for 20% of net demand following an extended period with very limited new supply.
“While companies remain focused on cost efficiency, we are seeing office-related decisions increasingly influenced by factors such as team collaboration, employee experience and the ability to attract and retain talent. The office continues to play an important role in the growth strategies of many organisations, and this is reflected in the level of new demand we are seeing across the market,” said Mădălina Marinescu, Head of Office Agency at Crosspoint Real Estate.
Sector analysis showed that technology companies generated the largest share of demand, accounting for 34% of leasing activity, followed by energy and industrial companies at 26% and financial services at 9%.
At the same time, the average leased office area declined to below 1,000 sqm, compared with 1,364 sqm during the same period last year. This trend reflects both the consolidation of hybrid working models among major occupiers and workforce adjustments recorded in certain sectors, prompting companies to optimise their real estate requirements, Crosspoint said.
Despite this shift, occupiers’ location preferences have remained largely unchanged. Approximately 72% of office transactions completed in 2026 involved buildings located within 500 metres of a metro station, highlighting the continued importance of accessibility.
On the supply side, the third quarter of the year marked the delivery of the first new office building after an 18-month period without completed projects: One Technology District, a development of more than 20,000 sqm built for Infineon Technologies.
Although no further major completions are expected before year-end, the office development market is projected to regain momentum in 2027 and 2028, with nine new projects scheduled to deliver nearly 200,000 sqm of office space. Until these schemes are completed, vacancy is expected to remain below 10%, particularly within modern, well-located office assets.
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