After the end of the summer season a number of hotel owners in Bulgaria's coastal resorts have tried to sell their property.

Construction is going on at fast pace in all of the resorts, Banker newspaper reported. Such developments have affected property prices in the resorts.

Investors, willing to spend their money on such property, should not expect high returns, Banker said. Supply, as well as prices were on the rise and the number of successfully concluded deals was going down.

Regardless of the location and the size of the hotels, average prices reached 840 euro a sq m. During the summer season the price of apartments remained above 1000 euro a sq m, property agents said.

Agents have been predicting a price collapse ever since and the first signs of such development in coastal resorts, Banker reported.

Noise level increase and pollution related to the intense construction works in resorts were increasingly noticeable. Such developments disappointed foreign investors.

Foreign investors, interested in the purchase of hotel, also depended on the desire of Bulgarians to spend their vacation in the coastal resorts. Interest, however, remain low, Capital reported.