Czech Republic “best in Eastern Europe for property”
Brits looking to invest in property in Eastern Europe have been advised to consider the Czech Republic before any other country. Romania “becoming more popular with investors.”
Market analyst firm Property Secrets said that this nation currently has the most to offer UK buyers, although the Eastern Europe area does boast several other well-performing countries such as Poland, Romania, Bulgaria and the Slovak Republic. However, it is the Czech Republic which currently poses the “lowest risk” to foreign buyers, due to the relatively low buying costs and an “absolutely incredible” rate of growth in recent years, according to chief analyst at the firm Simon Tweddle. He stated: “It’s had a quiet couple of years and now the Czech Republic is coming back. “The Czech Republic has the lowest base rates in Europe right now – that’s another reason to invest here.” Spanishpropertyinsight.com recently commented on the enduring “love affair” between British buyers and homes in Spain. People moving overseas may wish to consider self storage.
British investors are increasingly choosing to invest in the Romanian property market, according to new research. A study by Currencies Direct found that the country was growing in popularity alongside other emerging markets, partly due to recent economic growth. The organization also highlighted the relatively low property prices and infrastructure improvements as other factors that had drawn investors to the market. Commenting on the findings, Mark O’Sullivan from Currencies Direct said that Romania’s recent accession to the EU had also encouraged people to consider it as an investment opportunity.
Speaking to What Investment, he added that the possibility of an economic boom in the next few years highly likely. Figures from Currencies Direct showed that between 1997 and 2005, the country has seen a significant drop in interest rates and consistent growth in house prices. According to World Investment Services, emerging markets in Eastern Europe could be potentially lucrative for overseas property buyers. (safestore.co.uk, ready2invest.co.uk)
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