Between 2020 and 2024, the net leased area (excluding renegotiations) in Bucharest and key regional cities (Cluj-Napoca, Timișoara, Iași, and Brașov) reached approximately 1.06 million sqm, according to data from Cushman & Wakefield Echinox.
This leased area is comparable to the total office stock in the four regional cities combined or 30% of the stock in Bucharest.
The IT sector, contributing nearly 7% to the GDP, generated over 35% of new office demand, with 375,730 sqm transacted nationwide. Following closely were manufacturing and industry (9.2%), pharmaceuticals and medical (9%), professional services (8.1%), and the financial sector (7.1%).
Mădălina Cojocaru, Partner Office Agency at Cushman & Wakefield Echinox, said: "Over the past five years, IT companies have been the main engine of the office rental market in Romania, maintaining a constant demand for modern spaces, despite the space adjustments made by some firms."
In addition, Cluj-Napoca boasts the lowest vacancy rate (6.6%), while Iași records the highest (19.4%). In Bucharest, the vacancy rate decreased to 14.2% by the end of 2024.
Furthermore, prime monthly rents in Bucharest reached €21 per sqm (+10.5% compared to 2020), and in regional cities, it increased by up to 13%, reaching €17 per sqm.
