| If
you're looking to diversify, broaden or even begin your property
portfolio consider Europe for your next investment destination.
Europe is host to such a broad range of countries
all offering diverse property opportunities - you have everything
from emerging market economies with massive potential for
sharp growth rates, well established city based rental markets
giving great yields and even residential housing markets offering
an investor a slow burn on his capital outlay.
Here's an overview of the potential on offer
in the top ten European countries for real estate property
investors right now.
Bulgaria - Bulgaria is in position for EU
accession in 2007 and as a result it is receiving massive
foreign and domestic investment particularly into infrastructure
and construction and the whole country is benefiting from
the amount of money being spent on it.
Those who buy now in Bulgaria are buying into
the longest projected period of growth and buying before the
expected boom that will begin when Bulgaria is officially
made an EU Member State. Furthermore they are buying to target
the burgeoning tourism market that heads for the beautiful
beaches of the Black Sea Coast in the summer and the snow
capped mountains of Bulgaria's ski resorts in the winter.
Croatia - Another country tipped for full
EU membership in 2007, Croatia offers property investors commercial
and residential property opportunities. The numbers of international
business establishing bases in Croatia has increased substantially
in the last couple of years and there is demand for the development
of light industrial and office space.
Furthermore Croatia has a strong tourism market
that offers a real estate investor further opportunity to
either target short term rental yields or to buy off plan
or develop for resale to the second and holiday home market
in Croatia.
Cyprus - There are two real estate economies
in Cyprus - you have the well established Republic of Cyprus
property market where an investor should seek to target the
retiree audience or the tourism market and then in Northern
Cyrus you have an emerging economy currently offering massive
growth potential.
Property price increases in North Cyprus have
consistently been in double digits for the past three years
and there are no signs of a slow down in the offing.
Czech Republic - The majority of real estate
investors consider Prague the only city worth targeting in
the Czech Republic but the country's other cities like Brno
also offer an investor opportunity to purchase residential
accommodation for rent to the domestic and expatriate professional
population. Property price growth has been fantastic in recent
years and rental rates are increasing annually.
Estonia - Real estate investors should target
the local market in Estonia and consider looking for opportunities
in the capital city of Tallinn. The Estonian economy is growing
at a staggering rate which is affording the local people greater
purchasing power which in turn is having a direct effect on
the property market in Estonia.
Basically as local demand increases so prices
can rise and as local purchasing power increases so it can
sustain these price rises. A real estate investor can buy
into this growth now and should expect the period of growth
to be sustainable for at least the medium term.
Hungary - Property investors who targeted
Hungary's capital city of Budapest last year enjoyed up to
15% growth on underlying property prices and these growth
rates show no sign of slowing down currently.
There is local and expatriate demand for property
to buy and let in Budapest and the local economy is benefiting
from foreign direct investment and strengthening. This means
that there are long term prospect for growth in Hungary. Furthermore
there's an emerging market within Hungary's property sector
and that is the tourism market which offers an investor a
chance to get in on both residential and commercial property
ventures targeting this growing market segment.
Latvia - Latvia is benefiting from substantial
foreign direct investment which has helped establish the Latvian
economy as one of the fastest growing in Europe and Latvians
are on target to receive one of the five largest wage increases
in the world. All this means that locally the population can
afford to spend more on property either in the form of rental
rates payable or property prices payable and real estate investors
can buy off plan and flip on to the local market upon completion
or even buy to let out in the capital city of Riga or in the
coastal port towns.
Poland - Having joined the European Union
back in 2004 Poland has received massive aid and investment
as a result which has improved the country's infrastructure
incredibly and led to a strong period of economic growth.
Many European and international companies
have established bases in Warsaw and Krakow and the demand
for accommodation in these cities alone has really soared.
Real estate investors are targeting Poland because it offers
a low risk, high potential property market. Furthermore investor
confidence in Poland is high because the Polish government
have already proved that they have a strong commitment to
maintaining the good economic growth rates that their country
is currently enjoying.
Romania - Because Romania has yet to join
the EU and align all its governmental, fiscal and constitutional
policies with those of Europe it is quite a tricky country
for a foreign investor to get in on. However it offers a real
estate investor such exciting opportunities - where else in
the world can you buy anything and everything from a castle
to a factory at such ridiculously low prices.
Those with a strong appetite for paperwork
and red tape will make their fortunes from Romania's property
market, but for the rest of us it's an economy to watch carefully.
As the country moves slowly towards EU membership so it will
become easier and more attractive for property investors to
target.
Turkey - Turkey is on track for EU accession
following agreement that it should begin accession talks in
2005. Since that point Turkey's economy has been granted 'Market
Economy' status, the country has received billions of dollars
of Middle Eastern funds into its property sector and world
wide investor interest in Turkey's property market has exploded.
The majority of opportunities either exist
in Istanbul or along Turkey's southern coastline where hundreds
of thousands of tourists flock every year. Prices for property
in Turkey are currently incredibly low so with all the positive
data and news coming from Turkey recently there is only one
way prices are going to go - and that's up!
There are so many opportunities available
to an investor in Europe that those serious about profiting
from real estate property should give the continent careful
consideration!
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