Approximately 93% of new office buildings in Bucharest have green certifications

The office markets in CEE are undergoing a transformation process, influenced by the aging building stock and increasingly stringent decarbonization requirements, and Bucharest, along with Warsaw, Prague and Budapest, stands out for its growing green building stock and the integration of sustainability standards, according to the Colliers report "CEE Office Markets on the Green Path - Decarbonization Potential".

Approximately 93% of new office buildings in Bucharest, built in the last 7 years, and 70% of older buildings, over 15 years old, have green certifications. In comparison, only Warsaw surpasses Bucharest in terms of green certifications, with 98% of new buildings certified.

The Bucharest office market ended 2024 with a total leasing demand of almost 339,000 square meters, recording a 20% decrease compared to the historical high in 2023, but remaining above the average of the last five years.

“Romania is an important player in the region and, although well positioned in the adoption of sustainability standards, has a significant stock of old buildings, comparable to that of Bratislava and Budapest. The modernization of these buildings represents a major investment opportunity, which can strengthen the market’s competitiveness in the long term and attract developers interested in meeting current sustainability requirements. The performance of green certifications increases the attractiveness of the local market for investors and contributes to creating a competitive business environment," explains Victor Coşconel, Partner I Head of Leasing I Office & Industrial Agencies at Colliers.