Eastern Europe to benefit from economic downturn
Owners of property in eastern Europe could potentially benefit from the global economic slowdown, analysts have stated.
Property Secrets said countries such as Romania will be able to "ride out" the downturn in the worldwide economy as its domestic economy is very strong.
Robin Bowman, editorial director at the group, predicted that while the rate of growth would slow down during the coming year it would not excessive.
He commented: "This is exactly what many of the eastern European economies need - especially Romania and Bulgaria."
Mr Bowman added that this will help prevent rapidly growing property markets becoming "dangerously over-heated".
This comes after the Royal Institute of Chartered Surveyors revealed that the price of property in many European countries is continuing to rise, albeit at a slower pace.
The figures suggest that the property boom across Europe as a whole is ending and that the market is starting to slow down.
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