BRITS looking to invest their hard earned cash in a foreign property are shunning the Spanish costas in favour of more eastern shores.

Research by currency specialist HiFX found that increasing numbers of Britons are looking further afield, with Bulgaria, Dubai and Cape Verde emerging as the new international property hotspots.

HiFX said that while France and Spain remained favourite countries in which to buy property, the old faithfuls are losing out to a handful of emerging markets.

Mark Bodega, marketing director at HiFX, said: "Property in these emerging markets can be considerably less expensive, and Eastern bloc countries, such as Hungary and Poland, still offer excellent value for money despite significant price increases in 2006. Many in the industry expect this to continue through 2007."

HiFX also attributes the rise in interest in more far-flung destinations to a shift towards more serious property investors.

Mr Bodega added: "Bulgaria remains a popular investment destination with investors keen to cash in when it joined the EU and we're seeing a consistent amount of interest in Romania for the same reason."

What do you think? Have your say.

Tweet