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Economic downturn 'good for eastern Europe'

Problems in the global economy could ultimately be good news for the housing markets across eastern Europe, according to analysts.

Property Secrets stated that countries such as Romania and Poland have very strong economies which can withstand the ongoing economic turbulence.

Robin Bowman, editorial director at the group, added that investments in the Czech Republic and Slovakia are also likely to be secure in the face of financial problems across the world.

He commented: "Their economies are incredibly strong going into the slowdown and, although we will see a slowing of growth, it will not be excessive."

Mr Bowman added that this has been a positive development as it means the property markets and economies in these countries are unlikely to become "dangerously overheated".

Earlier this month, the Royal Institute of Chartered Surveyors revealed that property values in Poland rose by 28 per cent last year - more than in any other European country.

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