Rents of Sofia offices in the last quarter of 2010 have declined by 1.8% QoQ and by 7% YoY to an average of €14/sq.m., according to CB Richard Ellis. According to MBL, an affiliate of CBRE, unrented office space at the end of 2010 reached 335k sq.m., or 24.3% of the total, due to abundant supply: last year 265.5k sq.m. of new office space was completed. Rent levels are expected to remain under pressure in 2011 as close to 250k sq.m. of additional office space is expected to be delivered in the following 12 months.