Colliers: Office space deliveries plunge in Bucharest in 2024 on weak demand

The Bucharest office market recorded its lowest level of deliveries in two decades in 2024, with only one major project completed, according to the annual report published by Colliers.

Total rental demand fell by 18% compared to the previous year, but new demand remained at a similar level to 2023.

At the same time, more and more companies are encouraging their employees to return to the office, which is generating increased interest in modern and energy-efficient spaces.

Colliers experts also note the increasing differentiation of the market, as the buildings that form the top 20 of those with the largest free areas have a vacancy rate of approximately 33%, while for the remaining almost 190 office projects, the vacancy rate is 7%.

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