Warm weather caused an increase in the number of hotels and vacations complexes offered for sale in the three biggest Bulgarian winter resorts of Borovets, Bansko and Pamporovo.

Prices varied between 630 and 1200 euro per sq m, Dnevnik daily said.

Examining real estate sites, Dnevnik reported that as much as 70 such properties were offered for sale.

In Bansko 55 hotels are offered for sale. Intense construction in the resort led to the big number.

Nearly 15 hotels were offered for sale in Pamporovo, Dnevnik said. The average price was 650 euro per sq m.

Imoti.bg said that low prices did not guarantee purchasers. Investors refrained from purchasing, expecting even lower prices.

Bankruptcies of construction companies, which took loans to set up the hotels, also lead to lower prices.

Source: www.sofiaecho.com