Eastern Europe is ‘a big overseas property baby’

Eastern Europe has been described as 'embryonic' by a global property specialist, but like any baby it is expected to mature.

The well established area of Western Europe is still dominant in terms of overseas investment, but Liam Bailey, head of residential research at Knight Frank, has backed its neighbouring eastern regions to grow in the future.

"It's a more mature market place; people feel more comfortable with it. When you move into Eastern Europe, in some of the countries it's quite an easy system.

"In countries like Bulgaria it's a big market and quite a mature system - but in places like Latvia and Estonia, which more people are moving into, it is still slightly more embryonic as a market place."

However Bailey suggested that if people didn't have English language lawyers it could cause potential difficulties.

Estonia in particular is making technological strides in order to appeal more to overseas investors.

Kate Hamilton, spokesperson of property guide Homes Overseas, recently told Real Estate TV: "It is going to be the first country which is completely wireless in the whole world. They also gave electronic parking meters, which allow you to top up your meter if you fear you are going to be late by text message!”

If you are considering purchasing a property in Eastern Europe, Candour Consultancy works closely with English speaking lenders who offer home loans in Bulgaria, the Czech Republic, Greece, Poland and Turkey. We can also arrange mortgages in many other European, North American, Caribbean and Antipodean countries. 

To speak to one of our fully qualified consultants, click the ‘contact us’ button below and provide us with your preferred contact details and some basic information. Alternatively, click here to download our mortgage questionnaire. Once completed, just fax this back to us and we will email you an obligation free report.