Whether you're looking for a permanent home, a vacation getaway or a revenue-producing rental property, now is a great time to buy property in Russia, Turkey or Romania. East European real estate can be found for as little as 40,000 euros and industry experts expect market values to increase dramatically in the next 20 years.
Finding Homes In Russia
Homes in Russia can vary greatly, but some areas are still seeing property value increases of 10-30%. Are you interested in an apartment or flat in the middle of a city or is a detached, single family home in the country more your style? Once you decide what type of home you're looking for, contact an East European real estate agency for help in searching for homes in Russia.
A real estate agency can help with all steps in finding homes in Russia. Buying real estate in Russia can be different than in the United States so look for a company that has experience in Russia and is familiar with the language and local customs. If you're inexperienced in buying foreign real estate, your real estate agent can help you learn about homes in Russia.
Buying Turkey Villas
Turkey villas are quickly becoming the newest hot spot for Mediterranean vacationers. Turkey is usually less expensive than the better known vacation destinations like Spain, France or Italy. Turkey is known as having some of the most beautiful coastline where the Mediterranean and Aegean seas come together, making a beach-front Turkey villa an ideal place to live or vacation.
The cost of living in Turkey is between 40-60% less than the rest of continental Europe. Paired with the rising appreciation of 10-15% in the large cities like Istanbul, Ankara and Izmir and 20% or more in the suburban areas, Turkey villas are proving to be an excellent investment.
Looking For Property In Romania
Property in Romania isn't being built fast enough to keep up with the high demand for homes. Now is the best time to get into a home or apartment because the value of property in Romania is expected to quadruple in the next 10 years. Some have increased by 25% in just the past four years.
Still, property in Romania is known as being relatively inexpensive when compared to American prices. Couple this with the fact that many Romanian banks now offer a 100% mortgage and property in Romania is well within the reach of many Americans looking for real estate in Eastern Europe.
Buying East European real estate can be easily found to use as a permanent home, vacation spot or even a rental property. Whether you're looking at homes in Russia, Turkey villas or property in Romania, real estate in Eastern Europe is well within your reach.
The United States housing market may still be in the middle of a downward slump, but East European real estate investors are reaping the benefits of double-digit returns - some as high as over 50 percent! The explosive growth in Central and Eastern Europe are bringing investors from all over the globe to the area.
Poland
With the housing market growing at more than 33 percent last year, property in Poland has the distinction of being at the top of the list for the East European real estate market. In the ancient city of Krakow, for instance, investors are celebrating a 58% rise in 2007. That means that Krakow currently generates the highest returns on real estate investment in all of Europe.
This rise in property value in Poland can be partly attributed to the fact that a number of American and British companies have elected to open offices in the country. Another reason that property in Poland has become highly desirable is due to the recent trend of Poles moving to Britain to make money and returning to their homeland to open their own businesses. It comes down to basic supply and demand!
Bulgaria
Bulgaria is an emerging economy still finding its place after its 2007 EU accession and adoption of the Euro. This has many investors watching the East European real estate market in this area very closely. With a 30 percent gain in housing values in 2007, this East European real estate market looks to continue its growth in 2008 as well.
The capitol city of Sofia has seen significant employment growth over the past couple of years and as a result property values have also been on the rise. This level of growth has been seen in the ski resort towns and coastal vacation areas as well.
Czech Republic
The Czech Republic is one of the shining stars in the East European real estate market. Foreign investors find that the country makes business investments and real estate investments extremely easy to conduct.
Businesses who choose to set up offices in the Czech Republic find that the country offers an efficient infrastructure that can connect them directly with most European centers via railway. They also have a pool of skilled workers that work for a comparatively cheap hourly rate as compared to their output.
The Czech Republic also offers East European real estate investors a high credit rating as compared to other Eastern and Central European states. Businesses who have already made significant investments in the Republic include such well-known names as Coca Cola, Volkswagen, Pepsi Cola, Siemens and others.
Romania
Romania is perched on the cusp of a huge real estate surge. With many lenders currently offering 100 percent mortgages, Romanians have more money available to invest in a limited supply of property. This is another example where the power of supply and demand is expected to cause property values to soar in Romania in 2008 - making it one of the top East European real estate markets to watch.
Supply is so limited in Bucharest, for example, that a new complex called The Old Bread Factory has 500 reservations for just 200 units and another development called The New Town has over 450 reservations for just 220 units.
There is no doubt that the real estate market in Eastern Europe is becoming one of the most competitive in the world. As people emerge from the confines of communism and embrace free trade economics the investment opportunities in these countries will simply explode.