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