Romanian office demand stabilizes amid cost and uncertainty

Nearly 40% of office tenants now require employees to work from the office two to three days per week, while 1 in 8 occupiers is planning to expand its leased space, according to Cushman & Wakefield’s latest global survey, What Occupiers Want 2025. The report reflects a shift in workplace strategies as companies move from reactive downsizing to more structured portfolio management.

After two years in which approximately two-thirds of tenants reduced their footprint, the trend toward contraction is slowing. Only 32% of respondents anticipate further reductions. Average lease sizes have increased by 13% over the past two years, pointing to a cautious rebound in office demand.

Occupancy rates have also begun to stabilize, with usage now averaging between 51% and 60%. Although still below pre-pandemic levels of 65–75%, the trend indicates a gradual return to office-based work. Regional variations remain: while 20% of organizations in the Americas report occupancy rates above 50%, over 40% of EMEA and APAC-based firms report similar levels.

Cost continues to be the dominant factor in real estate decisions. Real estate leaders across sectors identify financial efficiency as their top business concern, with strategic choices increasingly tied to key financial indicators. However, ongoing uncertainty—including economic volatility, evolving workplace behavior, and challenges in measuring return on investment—continues to hinder long-term planning.

The report notes a decline in the perceived importance of ESG at a global level, with its strategic priority falling from fifth to eighth place compared to previous years. Nonetheless, ESG remains a higher priority in the EMEA and APAC regions, where many larger organizations continue to rank it among their top two concerns. In Romania, newer commercial buildings offer a comparative advantage for investors focused on sustainability, as modernization costs are lower. Additionally, new non-financial reporting requirements and tenant expectations are encouraging landlords to align properties with ESG standards despite cost constraints.

Another key trend is rising tenant expectations. Beyond high-quality space, occupiers increasingly seek enhanced amenities, services, and community-oriented features. According to the survey, 85% of tenants expect greater engagement from landlords, and 46% are willing to pay a premium for improved facilities.

Despite these changes, the core function of the office remains consistent—supporting collaboration, interpersonal relationships, and company culture. Yet only around 60% of employees feel their current workplace effectively supports these goals.

Commenting on the findings, Mădălina Cojocaru, Partner Office Agency at Cushman & Wakefield Echinox, noted: “Cost pressure stems directly from rising competition for high-quality and well-located office space. Accessibility and proximity to transportation remain critical, but surrounding amenities are increasingly seen as part of the value proposition. Today’s real estate strategies go beyond square meters—they must respond to employees’ needs. Romania’s modern office stock is well-positioned to support this shift, especially as sustainability becomes a greater focus in investment decisions.”

The What Occupiers Want 2025 report surveyed over 235 corporate real estate leaders representing companies with a combined global workforce of 8.1 million and more than 32 million square meters of office space. The study explores evolving decision-making priorities, location preferences, and shifts in how organizations approach workplace strategy.