Overseas property investors seeking a buoyant property market in the Eurozone should take a long hard look at Latvia and Estonia. Both countries have seen remarkable average house price rises in the fourth quarter of 2012.
The house price rised stand out from a Eurozone downward trend, prices were down 1.8 per cent in the Eurozone and 1.4 per cent in the wider European Union area, compared to a year earlier, stats body Eurostat revealed.
The highest annual increases in house prices were recorded in Latvia where prices increased by 9.8%, followed by Estonia where prices climbed 5.8% and Malta with price growth of 5.4%.
Slovenia housing and economic situation is probably the biggest worry for the Eurozone trying to hold its states together.
According to the Paris-based Organisation of Economic Cooperation and Development, Slovenia's local banks, mostly state-owned, are burdened with 7 billion euros ($9.2 billion) in bad loans, equivalent to a fifth of Slovenia's annual output.
Better news comes from Estonia and Malta who also among the few euro zone countries which saw their house prices rise, at 5.8 percent and 5.4 percent respectively.
Meanwhile in London, house prices have soared to an average of ÃÂ£439,379 Ã¢â¬â an increase of ÃÂ£44,682 or 11.3 per cent on the year, according to LSL Property Services and Acadametrics. This seems to be fuelled by wealthy overseas property buyers who have a massive appetite for property in London.
Author : Nick Marr