|
|
Top 5 Emerging Property Markets In Eastern Europe |
By:
Rhiannon Williamson |
|
|
While the rest of the western world wonders whether domestic
real estate investment remains a sensible consideration now that
yields and equity growth rates are tumbling and the fast moving
property sector slows and even stagnates in certain countries
around the world, there exists a part of the world where real
estate sectors are booming and the long term prospects for
profit and growth are substantial.
Eastern Europe - home to stunning scenery, beautiful coastlines,
unexplored forests, a wealth of history and culture - and now
also home to some of the most exciting emerging economies and
real estate markets in the world.
Here's a look at the top five emerging property markets in
Eastern Europe
Bulgaria - Poised on the brink of EU accession, Bulgaria is
witnessing a property market explosion. Property investors are
buying in Bulgaria now because they realize that to wait until
2007 when Bulgaria gains full European Union membership will be
to miss out on the largest predicted price gains that will occur
when membership is in place.
Investors are being drawn to the beautiful Black Sea coastline -
home to mile upon mile of untouched, unspoilt and undeveloped
sandy beaches and a beautiful mild and temperate climate - and
to the fantastic ski regions of the country's interior.
When Bulgaria joins the European Union on January the 1st2007 it
will begin benefiting financially from EU financial aid packages
designed to further boost the country's economy and improve its
infrastructure. In the meantime many international businesses
are establishing bases in the country and Bulgaria's economy is
vastly and quickly improving. All positive points for a property
investor interested in the long term growth in the real estate
sector in Bulgaria.
Croatia - Home to in excess of 6,000 km of untouched coastline
Croatia is developing a strong tourist market and a successful
real estate sector which is attracting second homers and
retirees looking for an affordable and safe country in which to
live.
Also positioned to gain full EU membership in 2007 Croatia
already has a very successful transitional economy which has
attracted strong levels of vertical foreign direct investment as
it aligns itself for membership of the European Union.
Opportunities for the real estate investor exist countrywide and
property prices are currently unbelievably low.
Estonia - Estonia is one of the most successful of the Eastern
European economies as it has adopted and embraced a modern
market economy whilst keeping corporate and personal taxation
levels very low. These facts have resulted in the attraction and
retention a lot of international business which has created
local employment and led to local Estonians gaining in real
wealth and in them slowly being able to afford to buy homes of
their own.
A property investor should seek to target the local market and
many who have already entered the market have enjoyed up to 30%
annual gains in some areas. Hungary - Hungary joined the EU in
2004 and is already benefiting from European Union financial aid
whilst its government are committed to long term fiscal
development meaning that the medium to long term prospects for
all areas of Hungary's economy are excellent.
The country has a growing wealthy middle class who are now able
to buy their own homes as wages increase and the cost of
borrowing remains low. Property investors could therefore target
local buyers - alternatively they could focus on the tourism
rental sector or the second home sector as Hungary is the most
popular Eastern European country for second homers and the
country's capital Budapest is incredibly popular with overseas
visitors.
Latvia - Since joining the EU in 2004 Latvia's fortunes have
gone from strength to strength with the capital city of Riga
developing internationally competitive sectors in financial
services, retailing and telecommunications.
Locally wages are increasing, the country's GDP is healthily
improving and the whole country is becoming a centre for
vertical foreign direct investment. Again, property investors in
Latvia should seek to target the local market and can currently
buy into the property sector cheaply and hold assets while wages
and prices rise.
|
|
Article Source: http://www.PopularArticles.com/article2713.html |
Article: Top 5 Emerging Property Markets in Eastern Europe
Author: Rhiannon Williamson
Total Views: 44
Word Count: 610
Category:
Home /
Travel / Europe
|
|
|
|
|
|
Categories 
