The total gross transaction volume in Q3 2025 (including newly leased spaces and renegotiations) reached 56,210 sqm. New leases (New Take-up / NTA) accounted for 55% of this volume, amounting to 30,823 sqm, a figure that reflects an active interest from companies in relocating to higher-performing spaces or expanding.

 

Geographic concentration: The North attracts 75% of new demand

 

The ESOP Consulting analysis shows a clear tenant preference for established areas. 75% of newly leased spaces (NTA), totaling 23,043 sqm, were contracted in the Central-Northern and Northern zones.

 

This dominance is illustrated by the high concentration of transactions:

 

Floreasca-Pipera Corridor: Almost two-thirds of the total NTA — specifically 20,623 sqm, or 67% of all new leased volume (30,823 sqm) — took place in the Calea Floreasca–Barbu Văcărescu–Dimitrie Pompeiu–Pipera Boulevard area. This strong demand in the northern office corridor, where new supply is limited, continues to place upward pressure on rental rates.

 

Key Transactions: In the landmark Sky Tower alone, 3 transactions totaling 2,887 sqm were recorded.

 

Sky Tower is Romania’s tallest building (137 meters, 37 floors), owned by the Raiffeisen Group and LEED Platinum certified. It offers extensive amenities and a strategic location, just 2 minutes from Aurel Vlaicu metro station. Due to its high occupancy rate, space availability is limited, and the 2,887 sqm leased show that, despite the tight supply, top-tier tenants are actively seeking relocation opportunities in iconic buildings.

 

Central-West Area Strengthens Its Strategic Role

 

The Central-West zone has consolidated its position as a strategic office hub, attracting 18.5% of new demand, i.e., 5,715 sqm. This area remains vital due to its proximity to major universities and the highest employee concentration in the Capital.

 

The Business Garden Bucharest (BGB) complex hosted 4 transactions, totaling 3,470 sqm, representing approximately 60% of the total demand in the entire Central-West sub-market.

 

BGB is a Class A office complex made up of three buildings (A, B, C), known for its commitment to sustainability. The project holds LEED Platinum certification, with Building A achieving the highest LEED score in CEE and the third-highest globally for Core & Shell.

 

Sector overview: Consumer services become market leaders

 

The breakdown of new demand in Q3 2025 reveals a notable shift in the sector hierarchy:

 

1. Consumer Services & Goods: Took the leading position, representing 35% of NTA with a total of 10,896 sqm leased. This marks a significant increase from the first half of the year, indicating the completion of large-scale transactions and growing confidence in domestically focused companies.

 

2. IT&C: Ranked second, accounting for 16% of NTA, or 5,020 sqm. Still a key market driver, though its share has declined compared to previous years.

 

3. Financial Services: Maintained a stable presence, representing 12% of NTA, totaling 3,656 sqm.

 

“The third quarter demonstrated that the Bucharest office market has matured beyond the stage of uncontrolled expansion. Leasing decisions are no longer just about square meters, but about value: premium location, energy efficiency, and strong corporate identity. We’re seeing major pressure on Class A, LEED Platinum-certified projects, where tenants are willing to pay the price to align their headquarters with global ESG standards. The large transactions in the North and Central-West validate this uncompromising demand for quality and sustainability,” said Alexandru Petrescu, ESOP Consulting | CORFAC International.

 

About ESOP Consulting

 

ESOP Consulting is a leading company in the Romanian real estate market, ranked among the top 5 commercial real estate consultancies. It is a top local brand in Bucharest's office leasing sector, having brokered over 120,000 sqm of office space in the past 3 years. The company is affiliated with CORFAC International, a global network of independent entrepreneurial real estate advisory firms. ESOP provides consulting services for office, industrial, logistics properties, and land.