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