Cluj-Napoca leads regional office market, securing 76% of office leases outside Bucharest in 2024

Cluj-Napoca, February 2025 – Cluj-Napoca dominated Romania’s regional office market in 2024, accounting for 76% of all modern office space leased outside Bucharest. Companies secured a total of 48,008 square meters of office space in Cluj-Napoca, marking a fourfold increase compared to 2023, according to an analysis by Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance.

Across Romania’s secondary office markets, companies leased a total of 63,024 square meters, including new leases and contract renegotiations. Cluj-Napoca emerged as the clear leader, outperforming Timisoara and Brasov, which took second and third place, respectively.

Several major corporations contributed to Cluj-Napoca’s office market boom, including Betfair, Orange, Banca Transilvania, Yopeso, Deloitte, Endava, Nestlé, MedLife, and SAP. This surge in activity contrasts with Bucharest’s office market, which experienced a slight contraction in 2024.

Nicolae Ciobanu, Managing Partner – Head of Advisory at Fortim Trusted Advisors, highlighted Cluj-Napoca’s growing significance in the national office market, stating: “Cluj-Napoca recorded the highest demand for office space outside Bucharest in 2024, solidifying its position as Romania’s second-largest office market. Timisoara retained its ranking in second place, while Brasov climbed to third, supported by new office deliveries in the Coresi Business Campus. In 2025, we expect these three regional office hubs to continue their strong performance.”

Timisoara maintained its second position in 2024 but saw a decline in total rental volume compared to 2023. Meanwhile, Brasov rose to third place, benefiting from new office space deliveries in the Coresi Business Campus complex.

In contrast, Iasi experienced a slowdown in office leasing activity, primarily due to a lack of new office building deliveries. The stagnant supply in Iasi highlights the importance of continued development to meet the growing corporate demand for modern office spaces.

The Romanian office market outside Bucharest is poised for continued growth in 2025, with Cluj-Napoca, Timisoara, and Brasov expected to remain the key regional hubs. With Cluj-Napoca leading the way, these cities are becoming increasingly attractive for companies seeking modern office environments outside the capital, reinforcing their role as dynamic business centers in Romania.