Bucharest’s office real estate market is likely to see a notable improvement in 2026, as developers are expected to add more than 100,000 square meters of modern office space following a slowdown that lasted nearly two years. These estimates were reported by Ziarul Financiar on January 9.
Companies such as Vastint, PPF Real Estate, and One United Properties are preparing to complete new projects this year, which together will provide workspace for around 10,000 employees. These new developments follow a prolonged period of weak activity, during which only one office project totaling 16,000 square meters was delivered in 2024, while 2025 saw no new office buildings completed at all.
The most prominent current project is “Timpuri Noi Square 2,” developed by Vastint. The project will add 55,000 square meters of new office space and represents an investment of about €100 million (approximately $109 million), according to the developer.
Other notable projects include the ARC development by PPF Real Estate in the Basarab area, which will provide around 30,000 square meters of office space. Meanwhile, One United Properties is completing the One Technology District project, covering 20,600 square meters, which has already been fully pre-leased to semiconductor group Infineon under a 15-year contract.
According to consultants at Colliers, Bucharest’s office market remains relatively balanced, with total modern office stock exceeding 3.4 million square meters and a vacancy rate of around 12.5%. However, they warned that the projects currently under development are not sufficient to meet expected medium-term demand, especially for buildings that comply with environmental, social, and governance (ESG) quality standards.
Compared with other Central European cities, Bucharest has lagged behind in recent years. Warsaw added an estimated 62,000 square meters of office space in 2024, while Budapest added 45,000 square meters. In contrast, the total new office space delivered in Bucharest amounted to just 16,000 square meters over 2024 and 2025, according to a Colliers report.
Demand dynamics reflect a marked divergence, as office leasing activity in Bucharest fell by up to one-third in 2025. This decline is mainly attributed to slower expansion by information and communications technology companies, a sector that accounted for only 10% of total leasing activity—the lowest share recorded since 2010.
Experts expect the limited supply of new projects meeting high standards to support occupancy levels and stabilize rents for prime offices, especially as overall demand gradually recovers.
