The vacation property sector is seen as offering the most profitable investment opportunities. The return rate varies between five and seven per cent annually and can reach a maximum of 10 per cent. According to real estate analysts, Croatia and Romania are Bulgaria’s biggest competitors concerning vacation property. While Bulgaria attracts investor interest through lower prices, Croatia has a good balance or price and quality. Romania’s advantage comes from the country’s larger territory. Vacation property offers increased significantly recently. Investor interest initially turned to Black Sea property. The average price of vacation property along the southern Black Sea is close to 850 euro a sq m. In the north, the average reaches up to 700 euro a sq m. Sunny Beach and the nearby resort villages like Sveti Vlas, Nessebur and Ravda are among the places with highest price offers. Prices there vary between 800 and 1800 euro a sq m, with the highest levels reaching 2500 euro a sq m. The popularity of Sunny Beach among foreign tourists and the potential for new investment produced a higher construction rate in the resort. http://www.sofiaecho.com/(12.05.2006)