Estonia may have experienced unprecedented price inflation (over 556 per cent between 1997 and 2006) but the cost of purchasing there is beginning to outweigh the potential investment benefits.

The same, says the report, can be said for property prices in Latvia and Lithuania which, while enjoying capital appreciation, are unable to keep pace in terms of gross rental yields.

The Global Property Guide has therefore declared Slovakia as the best bet for investors looking to plough their cash into property overseas.

Why? One reason is the country’s strong GDP performance, a factor closely associated with long-term property price rises.

Unfortunately, there are no house price statistics for Slovakia, but the Global Property Guide reckons it’s pretty safe to presume that prices are low.

Furthermore, they estimate that gross rental yields in Bratislava, the capital city, are very high at 10.1 per cent, a sure indicator to investors to strike while the iron is hot.

With the added bonus of low rental income tax and no capital gains tax on long-term property holdings, the advantages and future economic growth make it one of Europe’s most tempting investment propositions.

Other Contenders

The Global Property Guide also backs four other European countries for their investment potential, with Turkey being the next in line.

While prices in Istanbulare not regarded as cheap, the GDP growth, healthy market and prospect of no capital gains tax boost its attractiveness.

Sofia in Bulgaria also boasts some highly impressive gross rental yields at 10.6 per cent, although house price inflation is beginning to ease and transaction costs remain high.

The 8.17 per cent gross rental yields offered in Bucharest, Romania, a newly opened and growing market, should also attract investors.

In addition, an economy that’s on the rise, combined with low rental income tax, no capital gains tax and good GDP growth make it an attractive proposition.

The Global Property Guide tip Hungary as something of an outside bet, given its weak economic growth.

Nevertheless, with gross rental yields around 6.6 per cent to 8.3 per cent in the Capital centre and house prices that are still relatively low, the state of the market may depend on how committed the government remains to strengthening the economy.

According to Simon Walker, a sales director with Off Plan International, although it is important to seek the advice of an English-speaking legal representative when considering a purchase, Hungary is attracting more attention as it receives more media coverage, which may attract would-be first time buyers looking to invest for the first time.

Located in central Europe, Hungary is surrounded by a number of countries, including Slovakia, Austria, Romania and Slovenia.

“Have a good lawyer that can read the contracts and actually interpret exactly what’s being said … it’s always key to have a very good English-speaking lawyer,” said Mr Walker.

“If you’re buying overseas, it’s different to buying in the UK,” he added.

Off Plan International is entirely owned by Balkan Holdings

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“Residential prices in Sofia still average only EUR 600, or USD717, per square meter, or USD 66 per square foot. That is much less than the EUR 750 average per square meter in Bratislava, Slovakia; EUR 850 in Bucharest and EUR 1,500 in Prague,” reads the article, entitled “The rise and rise of Bulgarian property”.

IHT forecasts that property prices will continue to rise. “The only uncertainty is by how much. And how long.”

Foreigners were involved in 23 percent of the 220,000 property deals registered in Bulgaria in 2005, transactions that totaled more than EUR 4 billion, according to the property association. The year before they generated 18 percent of all sales, or EUR 3.36 billion.

EastEuro Link is proud to invite you to its forthcoming international forum on real estate and construction for the region of Central and Southeast Europe. Following the successful concept of bringing together regional government representatives and key industry figures, this event is tailored to provide knowledge and tools.

the Second Annual Real Estate and Construction Conference for Central and Southeast Europe

REGION UNDER CONSTRUCTION

Hilton Hotel, Sofia, Bulgaria
31. March 2006.

www.realestate.easteurolink.co.uk

Hear the very latest about the real estate and construction industry development in Central and South Eastern Europe. Don’t miss the opportunity to meet CSEE key stakeholders and discover the long-term vision for this rapidly transforming region. The conference will provide a superb opportunity to gather information and build new business relationships with the key players in the CSEE market.

Who will come?

· High Government Officials

· International Real Estate and Construction Organizations

· Property Developers

· Project Managers

· Financiers & Lenders

· Portfolio and Fund Managers

· Lawyers in the practice of real estate and property development

· Investment Advisors and Consultants

· Hedge Funds

· Insurance Companies

· Investment Executives

· Regulators

· Prime Brokers

Key topics to be discussed:

· The Role of governments in real estate and construction development

· Market regulations and legislative development in CSEE

· Comparison of investing in commercial, residential, industrial and infrastructure sectors

· Comparison of investment opportunities in different CSEE countries

· Overviews of real estate and construction markets in the region

· Financing issues for investing in CSEE property markets

· PPP environment in CSEE

· Future trends in property development and investment in CSEE

Network with your peers, competitors and future partners at the leading event for those interested in meeting the key players in the local market.

For the latest information regarding list of speakers and agenda visit
www.realestate.easteurolink.co.uk

Exceptional promotional opportunities available now!

TO BOOK YOUR PLACE, please contact Ms Alexandra Z. at:

Tel:+381 11 328 6 515

Fax: +381 11 20 26 115

e-mail: alexandra.zivkovic@easteurolink.co.uk

All attendees at the conference will receive a FREE CD ROM of conference material containing ministerial presentations and other conference material.

www.PropertyandInvesting.com

Sample – We currently have an apartment for sale in Budapest

Blah blah blah Blah

Please contact us if you require any further information etc.

(This is a sample advert for property in Hungary)

The new routes begin with daily services between Stansted and Vitoria in Spain on February 17, 2006. The following day Ryanair will start services three times a week between Stansted and Balaton in Hungary, and between Stansted and Lamezia in Calabria, Italy.

On February 21 the low-cost carrier will commence another three-flights-a-week service – from Luton to Brest in France.

The last of the new routes – a four-flights-a-week service from Stansted to Parma in Italy – will start on March 31.

To celebrate the new routes, Ryanair is offering one million free seats, excluding taxes, fees and charges for travel in January and February.

With this move, the number of Polish cities served by Wizz Air will increase to five, including Katowice, Warsaw, Gdansk and Poznan.

Wizz Air’s announcement to launch services from Wroclaw comes a week after the airline decided to establish its third crew base in Warsaw to underline its commitment to and leadership in Poland. Since the start of operations in May 2004, Wizz Air has carried close to 1.5 million passengers on the airline’s routes to and from Poland.

Tickets are already on sale for PLN19 ($5.8), excluding taxes and charges.

Wizz Air flies a young fleet of 180 seater Airbus A320 aircraft from Katowice, Warsaw, Gdansk and Poznan in Poland, from Budapest in Hungary and from Sofia in Bulgaria on 32 European routes to 17 destinations currently. Since its start in May 2004, Wizz Air has carried over 2 million passengers.

Company website: http://www.wizzair.com