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Regional Holiday Property Market

The purchase of a holiday or second home remains much in the mind of many homeowners despite worries and fears relating to the economy. As well as people wanting to purchase a second property for their own use, investors are casting their eyes further a field in attempt to spot the next property market that is likely to reap dividends. A time goes buy, there are fewer and fewer countries where cheap property has not already been snapped up by investors or people simply looking for a place to spend their own holidays without having to go on a package basis. If you are looking to make a long term investment that the question is slightly more academic and as time goes buy all property should naturally appreciate in value. If you are looking to make a quick killing as a speculator then some of the emerging markets have seen rapid growth in recent years. However, just because property is cheap, does not necessarily mean that it will continue to rise, in fact some European destinations are already seeing investors trying to offload property. In any country, there has to be a healthy resale market for you to be sure of making a profit and prime locations should always do well, whilst there have been many good quality homes snapped up, there is still a lot of poor quality overpriced property lurking around.

One of the major considerations before any holiday home is purchased is the ability to reach it in a reasonable amount of time and at a decent price. Many people do not stop to think about this and then wonder why their holiday cottage doesn’t receive too many bookings. A good starting point is to examine the flight schedules of the budget airlines, take a look at the countries and areas they serve and then have a look at property in the surrounding areas. Shrewd people often try to anticipate where the budget airline will fly to next, being able to advertise your holiday home with readily available cheap flights is a real plus point. Alas many of the former eastern block countries have already seen large property price increases and the days of cheap property in countries like Bulgaria are fast diminishing. However, it is still possible to obtain bargains, but lost of research is needed and remember the golden rule, if you like a property and the location, in all probability someone else will. The following countries are places in which holiday home or second home insurance is easily obtainable from the United Kingdom and may possibly be worth further investigation in 2008. However, you are course recommended to do your own research.

Montenegro

This undiscovered country in southern Europe has seen some dramatic price increases in recent years but there is still some bargain property around if you know where to look. Recent history has put a number of investors off but since gaining independence in 2006, the travel and tourism industry has started to flourish. One cheaper way to get on the property ladder in Montenegro, is to invest in buy to let market is set to develop even more. Log Cabins and Ski chalets are also popular with investors they make great holiday homes and holiday makers love staying in them as they really help to capture a sense of the great outdoors. As well as second homes, there is a healthy buy to let market already in place with temporary accommodation much in demand.

Estonia

Still remains one of the popular Baltic states and there is much demand for property, although property prices are not as low as they were, demand is still strong and there is a steady influx of visitors especially to the capital city Tallin. All this has been helped by cheap air fares and a healthy rental market.

Lithuania

Perhaps not as well known as Estonia but Vilnius the capital city is young and vibrant. Cheaper airfares are on the way and with the announcement that Vilnius is to be European capital of culture in 2009, demand for rental property is likely to increase even more,

In all of the above countries, Holiday home, second or long term property rental insurance is available from a UK based insurance company. A wide range of insurance perils is available and if you intend to rent your home, then liability insurance can also be provided.

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