In the first half of 2023, modern office leasing in Bucharest fell by more than a third to 100,000 square meters, the weakest half-year in four years.

The office market in Bucharest experienced a significant drop in lettings in the first half of 2023, with a total of over 100,000 square meters leased, which represents a decrease of over 30% compared to last year. This is due to internal and external economic uncertainties. However, there are more optimistic prospects in the medium term and demand is focused on modern and sustainable buildings. Rents for premium spaces have increased and landlords are offering incentives to attract tenants. In the long term, Bucharest needs to accelerate the development of new projects to meet market demands.