|
|
Home >
Overseas Property News
|
European property summary
Country: Bulgaria; Central, Other Spanish Places, Spain; Croatia; Cyprus; Estonia; Finland; Portugal; Southern Cyprus; Spain; Sweden
8 July 2008
Spain remains the most popular destination to buy a property. However, its property market has taken a mauling of late, with prices either stagnant or falling. The distressed market means that there are bargain opportunities available.
Portugal appears to have escaped the bust cycle with average prices trickling upwards over the past year or so. Billions of pounds are being invested into new homes in the ever-popular Algarve, along with Lisbon, Silver and Blue Coasts as well as Madeira.
Despite calming British demand, Bulgaria remains one of the best performing property markets in Europe, fuelled by growing Russian and Scandanavian interest. Avearge prices of property for sale in Bulgaria continue to record double-digit growth, especially in the capital of Sofia.
The greatest property price growth in Scandinavia is being recorded in Sweden. Property prices in Norway continue to rise at a steady pace of around 8%. Capital growth in Finland is at its lowest level for six years, and Iceland’s property market remains strong, despite a cooling economy. Denmark is the region’s worst performing market, with average property prices depreciating slightly over the past year, with the greatest falls recorded in Copenhagen.
Strengthening tourism levels, up 4.4% year-on-year, has buoyed demand for property for sale in Cyprus, where average property prices have appreciated by in excess of 18% over the past year.
Croatia’s property market continues to boom, especially in the Istrian peninsula along with the southern Dubrovnik region. The country has real hopes of joining the EU and Nato by 2010 and is regaining its reputation as a desirable holiday destination.
Slovakia is expected to complete its European transformation, after joining the EU in 2004, by adopting the euro currency on 1 January 2009. This is expected to fuel further capital appreciation.
Switzerland and Austria’s housing markets could be the real winner of last month’s Euro 2008 football championships. Average property prices in both nations have recorded steady growth of around 1% over the past year.
Although capital appreciation has generally slowed in Russia, St Petersburg remains a genuine property hotspot, particularly the new-build market.
Property prices across much of the Baltic States are undergoing a severe price correction. Over the past year, average property prices in Tallinn, Estonia, have fallen by well over 10%, Riga, Latvia, is down around 6%, while prices have stagnated in the Lithuanian capital of Vilnius.
Some properties in Bulgaria
|
|
|
|
Price: £3,314
|
Type: House
|
Bedrooms: 3
|
|
|
One-storey house situated in a big tranquil village in Central-North Bulgaria. The settlement is close to two main roads and stands within 45km north-west from the old capital Veliko Tarnovo.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £3,322
|
Type: House
|
Bedrooms: 2
|
|
|
Two-storey house set in the village of Maslarevo, 18 km from the town of Polski Trambesh and 45 km away from VelikoTarnovo. It is a well-organized place close to a main road. The house spreads over 75 sq.m. living area distributed on two floors.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £3,322
|
Type: House
|
Bedrooms: 3
|
|
|
Detached two-storey house with big garden in the village of Maslarevo, 18 km from the town of Polski Trambesh
|
|
View details | Enquire further
|
|
|
|
|
|
|
|
