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Equest Balkan Property benefits from buoyant Bulgaria market

Article Date : Friday, April 20, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Cheap property in Bulgaria has boosted the fortunes of a Balkan property company, a British newspaper has claimed.

According to the Independent, Equest Balkan Property "is fast becoming one of the biggest players in the Balkan commercial property arena" after it released its full-year results.

Last year, Equest bought properties in the Balkans that were worth 239 million EUR ? a figure that has now been revalued to 272 million EUR. More than 80 per cent of its assets are in Bulgaria and Romania.

"Property in Bulgaria and Romania is not only far cheaper than in western Europe, but is also cheaper than in the Czech Republic, another former Soviet bloc country that is now in the European Union," the newspaper stated.

According to Equest, which is now looking to Serbia, Macedonia and Croatia to increase its property portfolio, income-producing assets, in or around the Bulgarian capital of Sofia, present an "attractive investment opportunity".

It believes the Sofia market offers some of the best investment rental yields and long-term prospects for price appreciation in Europe.
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