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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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About the author:
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/
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