Investors 'should look at recent EU entrants'

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INVESTORS 'SHOULD LOOK AT RECENT EU ENTRANTS'

Monday, 29 Oct 2007

Overseas property investors have been advised to consider purchasing in eastern European countries that have recently joined the EU.

Speaking in research commissioned by the Daily Telegraph, Knight Frank stated that since achieving full membership, many countries in the region have enjoyed economic growth.

The organisation predicted this trend would continue during the next decade at least, meaning that countries such as Romania and Hungary could be good markets for overseas investors to consider.

Liam Bailey, head of residential research at Knight Frank, said: "We are highlighting the new accession states because this is where the big employment and economic growth will be concentrated in the next ten years."

He added that this was "very likely" as it had occurred before in other countries after they joined the EU, such as Portugal and the Republic of Ireland.

This comes after Indian travel website Make My Trip said that EU membership was one of the factors behind the growing economic prosperity of many eastern European nations.

Speaking to Express Travel World, chief executive Sachian Bhatia said this had also made them more attractive to tourists.

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