2025 brought an unfortunate first on the Bucharest office market: it was the first year in the last two decades with no deliveries of new office space. Against this backdrop, total leasing demand fell by around 25% year-on-year, to approximately 250,000 square metres, while take-up of new space totalled close to 90,000 square metres, according to the annual report published by Colliers. By Aurel Dragan Although leasing activity slowed, the market continued to adjust: the vacancy rate declined