Ukraine could be the next property hotspot

Ukraine is working hard to enter the European Union, and with admission, it could become the next hot property investment market in Europe.

Ukraine has much to offer to those looking to invest here. The country is working to develop itself into the type of admissible country to be allowed into the European Union. Currently, it has several things to work out, yet, once it does gain admission, which most feel it will, it is likely to become a powerful place for property investors to fall back on. Nevertheless, it is in its infancy.

What does the Ukraine have to offer potential investors? As the growth of the economy and political system stabilizes, investors will see that the property market is brand new, fresh and ready for investment.

That does not mean instant success for a property investor here. The local ability to purchase property right now is very low and with rental yields needing to come from the domestic market, it may be difficult to make a significant profit in the short term. Still, there is an upswing happening here where a number of investors have helped to drive interest and privatisation in Kiev.

It also will take government help and EU help for that matter. The Ukraine will meet with and try to set up a free trade zone, in the hopes of boosting foreign trade here. This is likely to happen after the World Trade Organization accepts the country's membership bid on Tuesday.

Most investors do believe that entrance into the EU will be the deciding factor of the property market here.