Colliers: Flexible offices remain relevant in an ever-evolving real estate landscape

In a context still defined by the transition to hybrid work, cost pressure, and the need to attract and retain talent, flexible workspaces offer a solution to many of these challenges. With a share of just 2.3% of the total modern office stock in the Capital, at a level comparable to Dublin or Prague, Bucharest is below the average seen in mature European markets. Currently, Bucharest has over 50 locations operated by nearly 30 providers. According to the report “Flexpansion: The Architecture of Agility”, Colliers consultants support companies in finding the optimal mix between the stability of traditional offices and the agility of flexible spaces.

“At Colliers, our extensive expertise and strong European network allow us to understand not only the immediate needs of companies, but also the strategic directions they are heading toward. In a context where work is becoming increasingly fluid and companies are seeking agile solutions, workspaces must reflect this transformation. We’re no longer talking about a divide between traditional and flexible offices, but rather a strategic complementarity between two models with different, yet equally important, roles. Traditional offices offer stability, predictability, and long-term tailored space, much like the steady rhythm section of an orchestra. Meanwhile, flexible spaces bring dynamism, adaptability, and ease of mobilization, like agile soloists able to improvise quickly based on the context. Together, they create a harmonious ecosystem where stability and flexibility don’t exclude one another, they strengthen each other”, explains  Daniela Popescu, Director | Tenant Services & Workplace Advisory in the Office department at Colliers Romania.

This new work reality, adds the Colliers director, is also putting pressure on the traditional office segment, which is evolving to meet the modern expectations of employees, greater comfort, attractive common areas, integrated services, and a work experience that truly matters. Landlords of traditional office spaces are increasingly investing in welcoming shared areas and employee well-being–focused design, transforming conventional offices into genuine platforms for connection and efficiency.

One of the key advantages of Bucharest’s flexible office market remains its competitive cost level. According to Colliers data, the average monthly rent for a private office in a flexible workspace in the capital is around €300, significantly lower than in comparable European cities, where prices reach €500 in Amsterdam, €625 in Dublin, and even €850 in London. This cost advantage, combined with a stable and growing office market, can become a strategic asset for international operators looking to expand in Central and Eastern Europe.

The transformation of the flexible office market is not only quantitative, but also qualitative. While these spaces were once primarily associated with freelancers, early-stage entrepreneurs, or creative teams, they are now being fully integrated into the corporate strategies of medium and large companies. Businesses are increasingly using flexible offices for transitional teams, satellite hubs, or to test new markets, maximizing adaptability while minimizing risk.

Beyond Bucharest, cities like Cluj-Napoca, Iași, and Timișoara are increasingly drawing the attention of flexible workspace operators, supported by dynamic IT&C ecosystems, a strong talent pool, and openness to modern work models. This expansion beyond the Capital aligns with a broader regional trend highlighted in the Colliers report: in 2024, the most dynamic markets were Riga, Ljubljana, Tallinn, and Sofia, cities that nearly doubled their flexible workspace capacity in just one year.

Across the EMEA region, the flexible office market has seen significant growth in recent years, reaching a total stock of approximately 8,3 million square meters by the end of 2024, up from just 2 million square meters in 2010. At the same time, the number of active operators has tripled, now exceeding 1,850, with over 80 new players entering the market in 2024 alone. This rapid expansion has also brought a diversification of models, from flexible community-focused shared spaces to fully customized corporate environments, offering integrated services and meeting WELL or ESG standards.

According to data from Colliers’ Asset Services department, a market leader in Romania with a managed office portfolio exceeding half a million square meters, office attendance has remained above 50% since 2024, though still well below pre-pandemic levels. To meet the evolving needs of companies and employees, Colliers provides specialized support through its Workplace Advisory service, helping clients rethink their workspaces. With an integrated, business-focused approach, the Colliers team helps create environments that foster collaboration, flexibility, and well-being, tailored to the realities of hybrid work.