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Black Sea: Property Investment Potential 2008

Black Sea property investment is an increasingly exciting prospect as property prices in the former Eastern bloc countries continue to rise. The Black Sea economies are growing and maturing, offering the overseas property investor a more sophisticated mortgage infrastructure and striving for the high quality of more mature markets.

Black Sea Economic Growth

Good news for those looking at property investment in the Black Sea is that the area's economy has been gaining ground at a steady pace since the 90's. According to the Organisation for Economic Co-Operation and Development (OECD) all of the countries in south-east Europe have seen a steady rise in GDP growth and figures for 2007 show that Georgia and Estonia have the highest growth.

Black Sea Travel and Tourism

Travel and tourism in the Black Sea countries is another positive indicator for investors and it has grown steadily in recent years, with good expectations for the future. Visitor arrivals have increased dramatically since 2004 and the government expects annual growth of more than 5% over the next 10 years.

The Future for Black Sea Investment

According to Knight Frank, the modernisation of the Eastern Bloc countries and the potential rapid price rises as they begin to match the investment facilities of more mature Western European investment locations, can only increase future growth of property investment in the Black Sea countries.