Lativia & Estonia International House Price Shock

  • 11 years ago
  • Uncategorized

 

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 £439,379 – an increase of £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

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