Head for Romania to make money on property investments |
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Sun, 08 Jan 2006 07:55
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LONDON: People wanting optimum returns on property investments abroad should look at Romania, a TV programme aired by Channel 4 told the viewers.
House prices in the country are expected to go up four-fold in the next 10 years as Romania enters the EU in 2007 and its economy gains strength, the programme, A Place In The Sun, said, based on research work. The show ranked the country as No 1 in Europe in terms of property investment returns.
A house in Romania costs on an average 17,000 pounds. The show said 100,000 pounds invested now will be worth 514,000 pounds in 10 years. Investors should do well to buy property before the country's entry into the EU.
Poland comes at No 2 as its economy is expected to benefit from the increased investments made by foreign firms. A 100,000-pound investment will give back 493,000 pounds in 10 years.
At the third place is Portugal, which can return 460,000 pounds in 2016 on an investment of 100,000 pounds now.
The Baltic states of Latvia, Lithuania and Estonia are at the fourth place, followed by Sweden and Belgium.
The other countries on the top of the list are Slovakia, Slovenia, Finland and Hungary.
The list was compiled on economic data from PricewaterhouseCoopers looking at how quickly the economy in each country is expected to grow and how much will be the rental returns.
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