Prices of front-line properties in the coastal resort of Sveti Vlas were expected to reach 3000 euro per sq m in the summer of 2007, Sveti Vlas mayor Ivan Nikolov said.

Currently, this type of property was offered at 2500 euro per sq m, Nikolov said as quoted by Bulgarian news agency BTA.

Second-line properties had already reached 1200 to 1300 euro per sq m.

A few front-line plots were still vacant, Ivanov said. Two or three additional complexes could be built and most probably property prices would rise again in the 2008 tourist season, he said.

The difference between front-line holiday properties and those in Sveti Vlas’s neighbourhoods was big, with properties in the residential districts offered at 800 euro per sq m.

According to Nikolov, there was no decrease in the number of tourists to visit the resort because of the construction. Mostly Polish, Czech and Russian tourists visited the town, he said. Again mostly people from these countries bought property in Sveti Vlas.