Business Forum • 14 May, 2026 at 7:30 PM
Leasing transactions for modern office space in Bucharest increased by 14% in Q1 2026 compared to the same period last year, while new demand rose by 24%. However, the market remains below pre-pandemic levels, according to Colliers data.
Total new demand reached approximately 24,000 sqm in Q1, close to the post-pandemic average but around 30% below the quarterly average recorded between 2017 and 2019. The trend points to a cautious start to the year, with a softer labour market and hiring intentions close to their lowest level in the past six years, amid ongoing uncertainties including the current economic and geopolitical context.
"We started the year at a moderate pace in Bucharest's office market, in a context marked by caution among companies and a subdued labour market," explains Victor Coșconel, Partner and Head of Leasing at Colliers. "Total leasing demand for modern office buildings increased by 14% year-on-year to approximately 51,000 sqm, but this reflects stabilisation rather than a return to pre-pandemic levels."
More than one-third of new demand is generated by companies newly entering the local market, which made a contribution in Q1. Companies that represent new entrants leased almost 60% of the total areas that such deals generated for the full year 2025. Demand remains diversified across sectors, with IT&C continuing to lead, accounting for over 22% of leased space, followed by the energy sector at nearly 20%.
"Outlook for 2026 is mixed, in a context marked by domestic and external uncertainties, a softer labour market and hiring intentions at multi-year lows," concludes Coșconel. He expects the office market's performance in 2026 to be influenced by economic dynamics, corporate hiring policies and the pace of new project deliveries.