Recent surveys suggest that anyone seeking to invest in overseas property will turn to Eastern Europe, where assets in Estonia, Turkey and Bulgaria display encouraging price-growth when most of Western Europe is suffering. In addition, the pound has risen slightly against the Euro-if this trend continues, more British property investors will be encouraged to look for the best places to buy property in Europe.You may want to check out LAS Investing Companies for more.
Will I invest in Turkish real estate?
Turkey has long existed in Europe and its real estate industry is no different. The images of Turkey’s political and economic turmoil still remain squarely in the background with stable economic progress helped by the government’s clever financial strategies and institutional reforms. In 2010 the country’s GDP grew to US$ 736 billion, rising in just eight years from US$ 36 billion. Tourism is one of the key reasons for this development, and it has enjoyed a significant increase. Yet it is not just tourism that pushes Turkey’s property market forward; Istanbul is developing itself as a cultural and business center, marking itself out last year as the fastest-growing city. Land is even increasingly affordable in Istanbul, with the Global Land Guide putting Turkey aside as the most lucrative real estate sector to invest in. Turkey’s hidden status could be fading, with the country’s obvious performance in the property sector being difficult to conceal, but Turkey still has a fantastic place to purchase investment real estate with this phenomenon likely to grow.
Will I need to invest in Estonian Real Estate?
Estonia is showing impressive growth while much of Europe is still struggling with the economic recession: statistics released by the Estonian government show an 8 percent increase in the country’s GDP during the first quarter of 2011. Much of this economic growth is due to the rise in commodity production and export. In addition, the trend is likely to continue with experts forecasting growth of around 5.9 per cent in the coming year. And it is not only the Estonian economy that is showing healthy growth; the Global Property Guide said property prices in Estonia’s capital, Tallinn, rose 2.5 percent last year, with construction showing particularly healthy growth. With the National Tourist Board recording that, so far this year, British visitors to Estonia have reached record numbers, Estonia certainly looks like a promising place to put down your cash and invest.
Do I need to invest in real estate in Bulgaria?
Another Eastern European nation that shows great potential is Bulgaria, with its property sector so far displaying positive indicators of change compared with 2011. While the historical history and position of Bulgaria in Europe indicates that it has not achieved the investment prestige that the Balkans do, that could well be about to shift. Data from the country’s property companies suggest that revenues and values are starting to climb steadily, with transactions in the first six months of 2011 increasing by 27 per cent. This indicates that now might be a perfect opportunity to invest in property until the economy rebounds entirely, but is also being kept back within the nation by unemployment and stagnant wages. If you’re looking to invest in Bulgarian property look to the cities as Sofia, Bourgas, Plovdiv and Varna display the fastest signs of progress, particularly Sofia, which sits on the coast of the Black Sea and accounts for 40 percent of the country’s sales. Not a sure-fire winner, the status of Bulgaria is still undermined, but this could mean the perfect time to snap up a real estate deal while prices remain low.
Should I now invest in real estate abroad?
Hey! Now is a perfect time for those seeking to invest in property abroad with the Pound growing towards the US dollar and the Euro. The issues in Greece, Ireland and Italy will place more pressure on the currency at about 1.14 Euro to the sterling now, but the pound is also weak with interest rates still at historic lows. Currency can make a big contribution to the success of your property investment so keeping an eye on Sterling’s trading rate, which has been showing the best levels against the Euro for over a month, is important.