The Independent: No Sign Of Property Blues In Booming Bulgaria - Focus Infomation

London. Everybody knows that property prices in the UK are heading south and that the spectre of negative equity is once again raising its head. Not so in Bulgaria, apparently, the Independent writes.
Last week, Bulgarian Property Developments was shouting from the Sredna Gora mountain tops after it managed to sell its logistics park in the Black Sea town of Varna for €15m (£11.9m), the valuation given to it by Colliers last Dec-ember. That is important, says its chief executive, Ivo Hesmondhalgh, not only because it helps bump up the group's cash position, but also because it goes some way to proving to investors that the group's net asset value is sound.