Latvian and Romanian property sectors stand strong in face of Euro-zone turmoil

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Steady growth and attractive currency benefits have marked out Latvia and Romania as two of the most quickly emerging property markets in Europe.

Romanian GDP grew by 4.5% year-on-year and Latvian GDP grew by 5.3% in 2011, suggesting that both have emerged strongly from the Euro-zone crisis compared to several other nations.

Both countries are currently offering low property prices as well. When investors consider this along with the steady and sustained growth we are seeing in both countries, they may decide it is too good of an opportunity to be missed if they fail to invest.

Arguably the most attractive feature of investing in the respective property markets is that both countries still use their own currency.

This means that, in the vast majority of cases, property is cheaper in both Latvia and Romania compared to the rest of the Euro-zone.

It also has the effect of distinguishing both countries from the majority of their European neighbours to a certain extent.

Several large countries within the Euro-zone are currently experiencing turmoil as a result of the ongoing financial crisis. This means that certain spheres, such as their property sectors, are likely to be in varying degrees of health during the near future.

Latvia and Romania have marked themselves out as being largely immune to the same level of turmoil that property markets in Spain, Portugal and Greece will be subject to for the next few years.

Transferring money to Latvia

If you are looking to invest in Latvia, think carefully about how you will be transferring money to Latvia. Foreign currency exchange rates quoted by banks are not usually the best way to send money abroad.

So if you are sending money to Latvia – which you will inevitably have to do if you are looking to make a property investment - be sure to compare the market before you buy your overseas currency.

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Latvian and Romanian property sectors stand strong in face of Euro-zone turmoil

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