CEDER 2025 in review: Bucharest Office Market Conditions and Overlook
The Bucharest office market is currently grappling with a combination of factors creating a challenging environment, yet the guests invited to take part in the “Office Market Challenges and Opportunities” panel held at CEDER 2025 maintained a sense of cautious optimism grounded in the market's resilience.
As Andreea Cotiga, Head of Leasing Office at CPI Property Group Romania, put it, the present situation is characterised by a “limited supply, limited demand, [and] certain pressure on the vacancy rates”. This limited supply is partly a consequence of a “de facto construction ban, or […] very restrictive framework” (Florian Nițu, Managing Partner of Popovici, Nițu, Stoica & Asociații) stemming from regulatory challenges.
Valentin Neagu, Managing Director of Crosspoint Real Estate, pointed out the fact that “the demand is not up to a level where landlords and investors are struggling to invest and […] propose new buildings on the market. So, fortunately, I think they can still keep up with the existing stock.”
The outlook for the office market is complicated by the “political and macroeconomic context” (Andreea Cotiga), which panellists described as “very complicated times, in terms of politics” (Maria Jianu, Leasing Director at Speedwell), with everyone being “impacted by the uncertainty” (Adinel Tudor, CEO of EVO Properties).
Adinel Tudor stated his serious concerns regarding the future of development: “The amount of investment […] has dramatically decreased over the past three years”. A particularly stark prediction of his was that “2025 is going to be the first year in I don't know how many with absolute 0 deliveries of new office space”. He also warned that "without a very clear plan for development of the city and with too much regulation, Bucharest is going to suffocate”, risking that it “will lose investment, talent, businesses and opportunities to develop”.
Antoniu Panait, Managing Director of Vastint Romania, highlighted that being “blocked from [a] development perspective […] [it] becomes non-competitive”.
Addressing these challenges, Andreea Cotiga strongly emphasised the “need [for] a little bit more stability coming from the political sector” to allow the business environment to thrive. Antoniu Panait clarified that the real estate sector isn't seeking financial aid, but simply “the support to invest and to bring money in Romania”.
Despite the hurdles, some panellists remained cautiously optimistic, like Ioana Roman, Partner & Head of Real Estate at Filip & Company, who stated: “We are a market that has always presented both potentials and opportunities, and challenges, various challenges over the years. And we also prove that we are a resilient market, and we always adapt, and we tackle challenges head on, and we find solutions.” This sentiment was echoed by Antoniu Panait: “We are still here. We are pushing forward. We are one of the best. […] And we win awards, worldwide awards, we win recognition in Europe for what we do. And we should continue, because us, all of us, we push the quality standards and the developments. Sooner or later [the] authorities [will also follow].”
