Budget air travel 'boosts overseas property sector'
Budget airlines can have a profound impact on the overseas property market, according to experts.
Analysts at Obelisk International stated that new routes launched by low-cost carriers could indicate which destinations would be the next investment hotspots.
The firm cited Bulgaria as an example of a country that had benefited from aviation, as the increased number of flights had boosted accessibility and demand for property.
In addition, it said that the expansion of two major airports in Cyprus, as well as the introduction of more flights, had heightened interest in investing in its property market.
Kevin Prior, investment director at Obelisk, commented: "Knowing exactly where the cheap flights are travelling to is certainly a key element to investment success."
He added that the emerging markets catered for by new routes tended to provide a strong return on people's investments, as the areas were "up and coming".
This follows comments from the Association of International Property Professionals, which said that budget airlines had offered a "massive choice" to investors and opened up new markets.
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