Eastern Europe offers the best opportunities for growth

Bulgaria, if you stay away from the coast, still offers some quite good opportunities

The US credit crunch, the Europe's tightening credit situation and oversupply in coastal Spain will definitely undermine the global property market, or at least some areas, according to Bailey. Asia, Brazil, Romania, inland Bulgaria and parts of western Germany may still be poised for growth, in sharp contrast to most markets, according to Liam Bailey, head of residential research for Knight Frank, Herald Tribune reports.

'Everywhere is starting to slow down,' Bailey told Kevin Brass from the Herald Tribune. 'Most of Western Europe is fully valued.'

The US credit crunch, the Europe's tightening credit situation and oversupply in coastal Spain will definitely undermine the global property market, or at least some areas, according to Bailey.
Eastern Europe offers opportunities for the biggest run-up:

"The Czech Republic is quite interesting. Romania is still under-priced. Bulgaria, if you stay away from the coast, still offers some quite good opportunities," Bailey says, "Germany is an interesting one-particularly Western Germany rather than the former Eastern Germany-where the market hasn't done anything for a decade or so. Property is very affordable there and the economy, particularly in southern Germany and Bavaria, is very strong. There's a lot of inward investment and prices are beginning to move. I think Germany is certainly an area worth looking at in more detail."

Text source: Property wise

Image source: Mirela