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Top 10 European Countries for Real Estate Property Investors
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!
About the author:
Rhiannon Williamson is a freelance writer whose articles about
property investing and emerging real estate markets have
appeared in publications around the world. She is currently
working on a brand new property investment resource http://www.amberlamb.com/
Rhiannon Williamson
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