by Mirela Raicu 
In Q3 2024, the total office area rented in Bucharest reached 78.590 sqm.
Download the ESOP study_The Office Market in Q3 2024
Out of those, 48% were (Pre) Lease & Expansion transactions, while 52% were Renewal & Renegotiation transactions in the current premises.
The most sought-after area in Q3 was Center-North, with 50% of companies’ preferences for renting new spaces, followed by Center-West and Downtown, with 26% and 10% respectively.
The most active tenants in Bucharest were the companies from IT & Communication field with 38% of the newly leased area, followed by companies in Financial Services with 13% and Consumer Goods with 12% of the newly leased area.
The (Pre)Leases and Expansions segment was quite stable in the first 9 months of the last three years, the volume of the net take-up having close values, while the Renewal / Renegotiations transactions had quite large fluctuations from year to year.
In Q3 2024 no new office project was delivered, and this year will record the lowest level of delivered office spaces, namely 16,000 sqm within the AFI Loft Project.
Although in 2024 a period of lull in the development of office buildings in Bucharest is foreseen, companies that are considering changing or expanding their headquarters have extensive areas in high-class office buildings already in use and have office spaces available.
A special opportunity for companies evaluating relocation in 2024 is represented by the existence of “turnkey” office spaces, fully furnished, which are available for rent either from rental companies that have surplus areas or directly from the owners of the office buildings.
If you would like more information about the office spaces for rent in Bucharest, please contact the ESOP team by filling this brief form or by phone (+4) 0723.26.61.97 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!
Founder Partner of ESOP Consulting CORFAC International, coordinator of the Corporate Office Spaces division, with 18 years of experience in real estate consulting and entrepreneurship.
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