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19 September 2007

Budget airline routes influence house prices overseas

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by Kay Mitchell

Budget airline routes influence house prices overseas

According to Obelisk International, the property investment company, cheap airline routes can have a significant impact on property prices overseas.

For example, at the beginning of this year, Ryanair and Easyjet launched new flights to Bulgaria’s beach and ski resorts. Since that time, the country has experienced both rental yields increase and property price growth. Approximately £310 million worth of property was bought in Bulgaria in the first quarter of 2007.

A spokesperson for Obelisk commented that the budget airline industry is doing very well. Easyjet has announced 50 new routes and it is forecasted that the growth will continue globally.

Obelisk added that being aware of where the budget airlines are travelling to is a main factor to investment success. Monarch and Ryanair have introduced regular flights to Paphos and Larnaca airports in Cyprus and investment interest in the country has increased. In addition, the launch of 20 new routes over the next 5 years in Morocco has also received increased interest.

Obelisk also commented that when choosing an investment location, the number of routes available was a main consideration, together with the cost of the flights and ease of travel to property from the airport.

Obelisk concluded that when looking at overseas property investment, it is advisable to check the budge airline press pages.

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