Baltic states such as Latvia, Slovakia, Estonia and Romania are all enjoying property growth, claims a leading real estate company.
Baltic states such as Latvia, Slovakia, Estonia and Romania are all enjoying property growth, claims a leading real estate company.
Simon James, spokesperson for Property Frontiers, explained that such countries offer a strong alternative to traditional holiday destinations and recent government investment is helping to transform the local property market and boost potential rental yields. Economic growth as also been strong since the countries joined the European Union.
"Lithuania, Latvia and Estonia – they're the strongest growing, they have the highest GDP growth every year in eastern Europe. Yields are low, but growth is very, very high," said Mr Jones.
He added: "It is supported by a very young and very highly educated society. GDP growth is very strong."
The Baltics have also benefitted from the growth of low-cost flights to the region and many travellers are seeing cities such as Tallinn, Riga and Vilnius as ideal for a short holiday or city break.