The number of category A and B offices continued to increase in Q3 and at the end of September their total area reached 735,650 square meters, property agency MBL reports.

Office space in Bulgaria rose 8.5%, or by 57,690 square meters in Q3.

A total of 520,000 square meters are currently under construction in Sofia. 62% of it is situated in four main city areas – on Bulgaria Blvd, Tzarigradsko Shose, in the southeastern part of the city, and around the airport.

Some experts forecast that these areas may see excessive offering when the new buildings open doors.

Some large office buildings have completion dates set at the beginning of 2009 and 2010. At the same time, the construction of more office buildings starts next year.

In Q3, the available office space category A and B declined 5.1%, compared with 5.3% in Q2. However, the number of vacant offices registered a slight hike as a whole.

The number of vacant offices is larger in the city suburbs – 6.6% of all, compared with 4% in the central part of the capital, and 2.3% in the ideal center.

The average office rent continued to rise in Q3, as was the trend throughout H1. Currently rent for class A offices varies between 12 and 26 euros per square meter, depending on the location.

Class B rents vary between 8 and 16 euros per square meters, MBL reports.