Finance displaces tech in Bucharest office demand

Business Forum
After a period dominated by the tech sector, H1 2025 saw a notable surge in interest from the financial-banking sector in the Bucharest office leasing market, according to data by Crosspoint Real Estate.

Of the total leased area of 112,225 sqm, the financial companies held a share of 31% demand, followed by tech with 16%. Professional services accounted for 15%, consumer and leisure services 12%, and business services 10%. Despite this shift, the tech sector continues to drive net demand, with new leases exceeding 13,000 sqm in Bucharest during H1.

The most sought-after office hubs in Bucharest remain Center-West (32% of total H1 leases), CBD (24%), and Floreasca-Barbu Văcărescu (20%).

Total office leasing fell 31% in H1 2025 versus the same period of 2024. Net take-up, excluding renewals and sub-leases, accounted for 62,718 sqm, representing 56% of the total and a 23% drop from H1 2024.

Reduced corporate interest in new office spaces kept the vacancy rate stable at nearly 12%, especially as no major new projects were delivered during this period. Rents remained largely unchanged in H1, with prime monthly rents holding at €22 per sqm.

Ilinca Timofte, Head of Research at Crosspoint Real Estate, said, "From the third quarter, we expect increased taxes, rising energy prices, and accelerating inflation to directly influence office rents and maintenance costs. These factors will exert additional pressure on demand, which is already moderate this year, affecting companies' appetite for expansion or relocation."

Crosspoint Real Estate has brokered office leasing deals with a combined area of over 6,000 sqm during H1 2025 to a mix of tenants from tech, defense, construction and agriculture sectors. Two third of the leased space was in Bucharest and the rest in Cluj-Napoca.

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