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Czech Republic property sees international investing draw

The Czech Republic is not as affordable as it used to be as the cost of living here continues to rise. Yet the country has property investors from around the world focusing their energies on the benefits.

Those property investors seeking opportunities outside of the UK and Spain are looking towards the Czech Republic instead. Some of the largest property developers here are those from the UK and Ireland as well as the Netherlands.

As reported by the Prague Post, Greg Gibb who is the investment director at CERES Group said, "Initial interest [from foreign investors] actually started some time ago, [and] it significantly increased with the Czech Republic's accession into the European Union in 2004. At that time, we saw many investors coming principally to Prague, as they saw it as a stable platform to the rest of Central and Eastern Europe. Prague still remains popular."

Investors are looking at the capital city of Prague most often, but other areas including Brno, Ostrava, Most, and Plzen are also bringing in more foreign investors for developmental properties as well as investors.

According to leading property analysts Property Secrets, the best place to invest in 2008 is in Central and Eastern Europe as a whole.

Other countries that look favourable for 2008 include Romania and Bulgaria.