International Property Investment News

Eastern European economies are "flying"

The superb growth of eastern European nations such as Latvia, Slovakia, Estonia and Romania makes them perfect destinations for overseas property investment.

According to Simon James of Property Frontiers, a driven young population were stimulating the fantastic fiscal performances of the former Soviet republics, with readily available cheap flights making investment easier than ever.

Mr James said that UK investors need not feel anxious over the former USSR status of these countries, as political and monetary safety will only improve with upcoming EU membership.

He said: "Lithuania, Latvia and Estonia - they're the strongest growing, they have the highest GDP growth every year [in eastern Europe]. Yields are low, but growth is very, very high.

"It is supported by a very young and very highly educated society. GDP growth is very strong."

He continued: "Slovakia is the same, Slovakia has a huge output - Samsung and Dell, all these large firms are opening up logistics centres and factories in these areas.

"Slovakia has been absolutely booming...I would put my money in Slovakia, Romania, maybe the Baltics."

A recent survey from the Royal Institute of Chartered Surveyors concluded that Europe's property market is the strongest in the world, with the emergence of eastern European markets playing no small part in this impressive performance.