TRAVEL AND TRANSPORT

Always think about travel costs and the ease of access when doing your research. You should ensure the country has international airports, which are easily accessible from your new home. This will help determine where you buy and is an essential factor when looking to secure rentals – experts in the travel industry state that a journey of more than one-and-a-half hours following a flight will stop many people from travelling. It is also worth being aware that the easier the access to Western Europe, the more expensive property is likely to be. While this is a very broad statement, it is an accurate one – in areas such as the Czech Republic and parts of Bulgaria, prices are almost twice as high as in less accessible areas such as Montenegro. Think of others and of the future. Are you so inaccessible that friends and relatives will be put off from visiting? Is your property located in an area that may be difficult to reach once you are in your dotage?

It’s also worth noting that while flying is the most common way of travelling abroad, driving and taking the ferry are becoming increasingly popular, especially as motorways through Western Europe are excellent, and Eastern European roads are dramatically improving. Consequently, taking the scenic route to your new property can be a pleasant and eye-opening experience, and is recommended when you’re trying to establish exactly where you want to buy.

Budget flights

In recent years, budget flights have been extremely influential in opening up new markets throughout Eastern Europe and encouraging the second-home boom. In the next couple of years, it’s estimated that there will be a 20% increase in the number of budget flights available and these are set to focus on countries that have recently joined the EU. As they make rentals more viable and strengthen new property markets, these planned routes can have a major impact on the amount of appreciation a country or resort experiences. For example, Romania and Montenegro currently have no budget flights so they experience a slower rate of property price growth and demand for holiday lettings, yet the Czech Republic has received them for a number of years, causing the Prague market to become well established – and expensive.

Obviously, a destination appears more attractive to potential renters if it’s served by budget flights and so, when looking to buy a second home, you should be aware of newly planned routes and obtain a list of locations served by current budget airlines. As far as possible, you should also examine the vulnerability of flights and whether or not routes are likely to be withdrawn, resulting in a drop in rental demand and also damaging investments.

While budget flights have helped develop and sustain demand in many overseas markets, investors should be aware that in the long term air travel may become unsustainable. Increased awareness of global warming and concerns over the impact of air travel on the environment may either result in a constriction of the market, or drive prices up to a point where they no longer appear ‘budget’ to the average flier. Wherever possible, avoid investing in a destination solely because it is served by budget flights. If nothing else, the airline may one day simply decide to cancel the route, leaving you with a worthless investment and a property which will rapidly lose its value.

A final consideration is how much it costs to reach the country of your choice. Some routes are less popular and consequently more expensive than others – it also depends on the day, month and time of year you choose to fly. If expensive plane tickets are going to hamper your enjoyment of your new home then ensure you buy somewhere where flights will be affordable.

Getting around

In terms of travelling, once you reach your destination, you should be aware that the infrastructure might still be relatively poor. If you get annoyed when UK public transport runs late then you should think twice about buying or living in an area where, in certain rural locations, the bus may only turn up twice a week!

Generally speaking, areas popular with western tourists are fairly well equipped with roads and public transport, but you should try out public transport before you buy – especially if you don’t intend to own a car.