The European continent is home to many different countries, all of which have a fascinating history and rich and beautiful natural environments. Since the fall of the Eastern Block, however, it is also home to numerous emerging economies that are of particular interest to foreign real estate investors. Yigang Tang recommends that those interested in making such an investment consider the following countries.
Yigang Tang’s European Recommendations
The first country that Tang recommends is Hungary. Between 2004 and 2005, property prices in Budapest, the capital of the country, grew by 15%. Growth has slowed down somewhat now, but prices are still far below those in this country and they continue to increase. Additionally comma there is quite a significant demand for rental properties in Hungary as a whole as it also has an emerging tourism industry. For the investor, this means there are opportunities in both commercial and residential properties, as the tourism industry growth is also giving rise to many new businesses.
The second country is Latvia. The Latvian economy is still being established but it is now the fastest growing in all of the European continent thanks to direct investment from foreign countries. Additionally, it is believed that workers in this country will receive one of the 5 highest salary increases globally. What this means is that people in Latvia are able to spend more comma including by paying more on there rent period they can also spend more time enjoying their country’s emerging tourist industry, for instance in coastal port towns or in Riga, the capital.
Then there is Poland. This country joined the EU in 2004 and has received significant investment and aid. This has been used to improve the infrastructure, leading to strong economic growth. Krakow and Warsaw are two very popular destinations for businesses and international companies, which means there is also a high demand for both residential and commercial properties. The Polish government is committed to maintaining economic growth, making it safe investment location.
The third option is Romania, which joined the EU in 2007. The prices for real estate are ridiculously low in this country and you can purchase anything from a factory to a castle. However, Romania is also home to tremendous bureaucracy, red tape, and paperwork. If you are happy to deal with that, then it is one of the best investment opportunities for real estate professionals around.
Last but not least, there is Turkey. Turkey is on on the fence market. They have long been trying to join the EU but have so far been unsuccessful. The recent Presidential elections have also once again caused a degree of turmoil in the country. However, the tourism industry is incredibly strong and this means that a foreign investors can really strike while the iron is hot. At present, property prices are low and they have not grown much over recent years, but it is likely that there will be achange and it can only be positive.