The Post Office Cost of Culture Survey 2008 and Mercer’s Annual Cost of Living Survey highlight the cheapest european cities and potential property investment hotspots.

Romania is making its mark with all the right people and institutions. Standard & Poor, the financial evaluation agency, have recently upgraded Romania’s banking industry risk assessment profile, reflecting the healthy growth and profitability of the banking sector.

Albania is a relatively young hopeful among Europe’s emerging property markets. This Eastern European country, which only broke free from communist rule in 1992, has been working hard to make itself an attractive destination for overseas property investors.

Prospective investors in Eastern Europe’s best kept secret - Romania - will find that obtaining a mortgage is a straightforward process, with a number of different mortgage options available through Obelisk Private Finance to residents and non-residents who buy property in Romania.

Obelisk Property Investment is pleased to announce the launch of the Fontana Residence, located in one of the world’s most dynamic investment destinations, Romania. Set in one of Romania’s most picturesque valleys in Cluj-Napoca – Romania’s top investment spot and major employment centre.

Bulgaria’s GDP growth reached record levels of 7% during the first 6 months of 2008, according to a report by Macro Watch, a group formed by the Open Society Institute (OSI) in Sofia.

Property investors attention is being drawn towards new investment opportunities in both agricultural and development land in Bulgaria by independent Bulgarian property consultancy, Sash Property Solutions.

With annual price hikes of 15% and rental yields of between 8% and 10% in its capital, Slovakia already ticks plenty of boxes for successful overseas property investment. With Obelisk’s recent introduction of mortgages for non-resident homebuyers, property investment in Slovakia is even more attractive.