Report highlights advantages of property investment in south-east Europe
A new report into property investment in south-east Europe has highlighted the advantages of buying houses in Turkey, Romania and Bulgaria.
The Global Property Guide (GPG) described Turkey as a "south European winner", marked by rising house prices, improvements in property law and a booming domestic market. And despite the country's reputation for being economically unstable, inflation has been kept in check and GDP growth has been sustained over the last few years.
Economic reforms in Bulgaria were also underlined, thanks partly to the country's accession to the EU. The GPG said that rental returns in Sofia are "good", while the cheap prices and zero-rate capital gains tax are additional attractions for investors considering Bulgaria.
The report raised concerns about the political upset in Romania. However, the country's property market has been moving in the "right direction", with Romania being described as a "land of opportunity" for prospective property investors.
Earlier this week, the Romanian National Statistics Institute revealed that foreign tourist numbers grew by more than a fifth in April 2007, compared to the same period in 2006.
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