Investors urged to look in 'less obvious' markets

People who are considering purchasing a foreign property have been advised to consider looking at an emerging market.

FirstRungNow.com said those who are purchasing with the intention of generating wealth could find less-established locations more suitable than traditional countries.

The website stated that investors overlook countries such as Spain and France and consider "less obvious" options instead.

Eastern Europe was highlighted as one region that could generate strong returns, along with property in Turkey.

This is because the housing markets in these countries are all growing at a much faster rate than those in the more established property markets.

Therefore, property owners could potentially earn a considerable profit if they choose to sell up at a later date.

Helen Adams, managing director of FirstRungNow.com, observed: "In places like Turkey, you're more likely to get the growth that you need."

This comes after Homes Worldwide recommended that Britons avoid the domestic market as mortgage rates are rising while house prices are falling.

By contrast, many other countries offer good capital growth potential and relatively cheap property prices.

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