Europe top property destination
Europe top property destinationEurope remains a firm favourite with real estate investors, claims a new survey from the Royal Institution of Chartered Surveyors (Rics).
The research concluded that Europe's property market remained the strongest in the world during the second half of 2006 and beat off competition from the rest of the world. In particular, there have been strong increases in real estate values throughout central and eastern Europe as more people discover the attractions of countries such as Bulgaria, Poland and Hungary.
Rics senior economist, Oliver Gilmartin said: "As the economic slowdown continues across the US, the smart money has been flowing to more lucrative established European shores."
"This trend should continue throughout 2007 although supply constraints in Eastern Europe are encouraging greater risk taking outside the more traditional locations," he added.
Growth of affordable short-haul flight services means that many more tourists are opting to enjoy a city break in areas away from the more traditional holiday hotspots and this could ensure increased revenue for holiday let owners.
5 June 2007 Print this article