Floating to raise funds

Bulgarian Property Developments PLC hopes to raise up to £40m, by floating on the London Stock Exchange

The company hopes to raise funds in order to invest in six main property sites in Bulgaria. Five of the sites are in Sofia and are suitable for commercial development while the sixth in Bansko, one of the country's most popular ski resorts, has been targeted for residential development.

Real estate consultants Colliers International say the assets of Bulgarian Property Developments have seen a 55.2 % uplift in value as of November 25.

Bordeaux property prices slump

Property prices in parts of Bordeaux have dropped considerably due to a slump in French wine sales.

It is reported that property prices in some parts of the region have now fallen by as much as 30% since 2003, yet 2006 offers little promise that market conditions are set to improve.

"There's no such thing as a standard price, rather a property is only worth what buyers are willing to pay," says Jean-Christophe Mau of negociants Yvon Mau.