ECB rate freeze makes Europe an attractive bet
The European Central Bank (ECB) has kept the interest rate on hold once more as borrowing rates in the eurozone remain low.
Freezing the refinancing rate at 3.75% in a widely expected move, the ECB members who met in Dublin have signalled another month at the same level.
The news will be welcomed by property investors on the continent, with the rate comparing favourably with Britain and the US.
On Thursday the Bank of England's monetary policy committee agreed to put up the base rate to 5.5% ÔÇô the highest level since 2001 ÔÇô while the US rate is currently at 5.25%.
And, while the ECB is expected to put up the interest rate in the coming months, the signs are the relatively positive borrowing rates will continue.
With the British property market continuing to price many buyers out of the market, the lower interest rate has combined with the expansion of the European Union to attract new property investors to the European market.
Romania, which joined the EU in January, has been among those eastern European countries to capitalise on better trading conditions and stronger links with the continent as a result of its accession.
An increasingly attractive location for tourists, the country is well-placed to merit another look for investors.
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