Investors opting for EU member states

Wednesday December 19th , 2007

Overseas property investors are increasingly favouring members of the European Union, according to experts.

Financial services group Blevins Franks stated that members of the international alliance tended to benefit from considerable economic advantages, such as growth in its property market.

The organisation added that countries which join or are currently being considered for entry into the EU have often experienced an "impressive" increase in the amount of foreign investment.

Furthermore, it said that member states were often seen as a more secure investment than many other countries.

Matthew Weston, manager of overseas mortgages at Blevins Franks, commented: "It is no wonder that people invest in new-born member countries, as they feel that it is likely that membership brings with it prosperity and protection."

This comes shortly before Cyprus enters the single European currency in January.

Regular visitors to the Mediterranean island were recently advised by Travelex to make sure they were prepared for the forthcoming changeover, as any leftover currency will soon be invalid tender.