The EU Affect
Date: 01/23/2008
January 24, 2008
All but a couple of Balkan countries are expected to have fulfilled the conditions for signing the Stabilization and Association Agreements, the first step toward EU membership, by the end of 2008. Albania, Bosnia-Herzegovina, Croatia, Montenegro, Macedonia are now well on the way to joining the 27-nation bloc.
Joining the EU brings increased trade and economic benefits to new members, including funding for improving infrastructure. And membership tends to trigger off a property boom. You can see this in some parts of Romania where property prices have doubled in three years. Last year in Bulgaria the cost of apartments went up 15% to 20% on average. Both countries joined the EU in 2007.
You can take advantage of the “EU affect” and find profits by getting into the property market at the right time at the right place. Canny investors are looking at Croatia—already a popular destination for summer vacations—and Montenegro. Both these countries have attractive coastline.
Best regards,
Maria Savage
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