Investors to benefit from building restrictions
New restrictions on building along the Mediterranean coastline are likely to be good news for overseas property investors, according to experts.
Foreign Property Buyer said people who own a residence in places such as Italy and Morocco would be able to enjoy an environment that is not overdeveloped.
The website stated that 14 countries have so far pledged to limit the amount of building within 100 metres of the coast, adding that others including Turkey and Cyprus are likely to sign up to the accord within the next few months.
This has prompted it to suggest that demand for property in coastal areas will go up, a development which lead to growth in their property markets.
Foreign Property Buyer commented: "The new legislation, when it comes into force, will be good news for investors who already own property inside the 100 metre area."
According to a study by Holiday-Rentals, nine out of ten overseas property owners from Britain have invested in European countries.
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