Hi Paul, I totally agree with you. There are sharks around and still are.
We havent even had a sniff on the Bulgarian resales based front line Sunny beach.
We researched Bulgaria as a second market for us to balance Spain but decided against it. I visted the country many years ago and i still think its nice in the summer only but once the price gets so out of the price bracket for the locals then you are in big trouble. At least here in Spain we are selling to Spanish which ensures the market doesnt totally collapse.