European property prices "bottoming out"

Property investors thinking of making a money transfer for a new property in Europe might want to do so soon, as property prices on the continent are close to bottoming out.

According to Richard Way, editor of A Place in the Sun Magazine, now is a great time to invest in property in Europe for those who do not need to take out a large loan to do so.

"The market is definitely quite close to bottoming out and if you take a mid-to-long-term view then I think you'll be okay," he commented.

Mr Way's statements follow findings by the Royal Institution of Chartered Surveyors that house prices across Europe either fell or remained static last year - meaning that now could be the best time to make that all-important money transfer on a new property.

He added that the eurozone still offers plenty of good opportunities for those planning to invest in property, concluding: "If you buy with a euro mortgage then it really doesn't make much difference anyway."