Emerging markets in eastern Europe are increasingly attractive to UK customers looking to buy overseas, the annual global property report from currency specialists HiFX has revealed.
Overseas house price growth globally slowed over 2006, allowing more buyers into the market, and despite price growth in the old 'eastern bloc', prices in Poland and Hungary remain lower than in 'old faithful' regions France and Spain.
"It is clear to see from our annual table that both old faithfuls are losing out to a handful of emerging markets," commented Mark Bodega, marketing director of HiFX.
"In many cases the emerging markets offer property which is significantly less expensive than the traditional favourites."
Lower-price eastern European housing options are attracting UK buyers less wealthy than their Costa del Sol counterparts.
"As UK property prices have continued to rise dramatically in the UK over the last 12 months … we've seen the overseas property market open up and become accessible to more of the UK population," Mr Bodega commented.
Meanwhile, Romania and Bulgaria continue to attract investors who anticipate prices will soar as EU integration progresses.For more information about investment property, click here.
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