A recent UK government report discovered that there was a 250% increase between 2000 and 2004 in number of Britons buying property abroad solely for investment purposes, and this trend does not seem to be limited to UK nor does it seem to be slowing down!

The global stock markets seem to be in decline, there is a worldwide pension crisis looming and we have uncertainty in Middle East, in UK housing market is unaffordable, possibly over inflated and unlikely to bring significant returns for investors late in on game and so more and more of us are looking further afield for our investment opportunities. This has led us to look around world for ‘next big thing’ - next property boom.

So what’s hot for 2005?

The latest EU entrants are proving of continued interest to property investor as are those countries in line for EU ascension in 2007.

The likes of Malta, Poland, Czech Republic and Cyprus who joined EU in 2004 were hot before they joined and have proved solid for investors already in market and are looking like safe bets for 2005 as well. Growth is set to be steady, economies of these countries are improving and investor confidence is strong.

Hungary, Slovakia, Bulgaria, Croatia, Turkey and even North Cyprus who are lining up for ascension consideration in 2007 have solid emerging property markets which are proving of interest to property speculator. Clearly risk involved in investing in countries not already in line with EU fiscal and legal legislation is greater, however, so are potential returns.

The attraction of such markets to property speculators is quite simple – these countries are working hard to improve infrastructure, attract inward investment, stabilise their economies and promote tourism, and ultimately they are hoping for EU ascension as this brings with it vast potential for economic advancement. In meantime these countries often have deflated property markets offering incredible real estate ‘bargains’ and undiscovered and under exposed tourism potential – all of which adds up to potentially significant returns for anyone in on property investment game.

The techniques described in this article only work if you are not in debt; if you are carrying balances on credit cards, pay them off – NOW. There is no investment that currently pays 12 to 21 percent you are paying out in credit card interest, so every month you carry a balance, your net worth decreases. That’s a pretty large sacrifice to make just to have an Xbox or to furnish your trophy home.

If you’re just starting out, here are things you can do to avoid debt trap, and use your credit cards to your advantage.

NEVER PAY AN ANNUAL FEE FOR YOUR CREDIT CARD Why should you pay $25.00 to $100.00 a year for privilege of paying a bank 18% interest? Shop for a credit card with no annual fees. Your credit limit may not be as high initially, but with a good payment record it will be raised annually.

ALWAYS CHOOSE CARDS THAT OFFER REAL CASH REBATES When I was a bookkeeper for a self-made millionaire, we tried to do business with companies offering discounts for paying bills on time. Many times, our invoices offered 1 to 5% discounts just for sending them a check within terms, and when you’re dealing with several thousand dollars per purchase, those discounts add up to real savings.