The Czech government have recently announced that they are to increase VAT on purchases starting from January 2008. The new laws will increase the rate from the current 5% to 19%. Obviously with such a massive leap in fees, it would make sense to purchase property in the country under the old tax regime.

Experts predict that the news will fuel property price increases by 13% across the country in 2007.

If you are not in a position to buy until after the new tax laws are enforced, there is one option that you may wish to consider. Basically the government have dictated that any new build housing that is under 90 M2 in size will be categorised under the moniker “social housing” and these types of dwellings will be exempt from the new tax hikes.

From a social perspective it is to be welcomed that citizens on a lower income will be helped onto the housing ladder by reduced fees, however, from an overall building infrastructure perspective it is unknown what effects the new tax regime will produce. Commentators speculate that new property developers will build smaller properties as a norm in order to be exempt from fees. Whether this is beneficial in the long term for purchasers or indeed aesthetically appealing will only be borne out over time.

A recent index compiled by Where On Earth has rated Cyprus as the best country in Europe in which to profit from property investment. The index takes into account a dozen factors to determine the investment viability of the locations, primarily these include the respective Gross Domestic Product, the level of Foreign Direct Investment, the level of exposure the country receives and the number of new property developments being built.

The full index including each of the factors determining the ranking can be found at here

Links to property hotspots in each country have been included where possible.

1. Cyprus
2. Bulgaria
3. France
4. Spain
5. Turkey
6. Romania
7. UK
8. Tenerife
9. Montenegro
10. Italy
11. Germany
12. Portugal
13. Malta
14. Estonia
15. Poland

This new Almdorf Kreischberg development consists of 40 new 3 or 4 bedroom chalets in the peaceful Austrian village of Stadl, which are currently in development. The area is known not only for great skiing but also for spectacular scenery with a number of lakes dotted around the Hohe Tauern mountain range.

The chalets are ideally positioned between the skiing areas of Kreischberg and Turracher which offers approximately 70km of skiing and Obertauern which offers 120km of pistes, also the chalets are due to be built within 300 m of a proposed ski lift.

The Almdorf Kreischberg development offers excellent facilities with swimming pools, solariums and a leisure centre on the complex that will contain tennis courts, volleyball and a toboggan run. In the summer months, hiking in the area is recommended as Stadl is amongst the largest Swiss stone pine forest in Austria.

Access to the Almdorf Kreischberg chalets is convenient as they are approximately 1 hour 30 minutes drive from Salzburg airport, which is on the main flight plan of many of the world major airline carriers.

As the chalets are still in development, it is still possible to furnish the interior to your taste and the developers have a 14,000 budget included into the price to allow for furnishing specifications.

Prices begin at €175,988. For additional details about the development see Investors In Property also be sure to check our Austrian property buyers guide page

As the ski season is in full swing we thought we would bring you a round up of some of the offerings from around Europe. Alpine properties are certainly not the cheapest type of property on the market, but they can prove to be an excellent investment as many can be let to ski enthusiasts all year round.

In fact, with milder winters seemingly an unfortunate inevitability, the more enterprising developers are factoring a potential lack of snow during some parts of the year into their development plans. It is certainly not uncommon to see ski developments now encompassing spa complexes, swimming, gymnasiums, hiking trails and even golf and tennis facilities. When one combines these facilities with the attraction of the ski slopes it is not difficult to see why such properties are valued highly and are in great demand.

When considering investment property it is certainly worth considering the other facilities apart from the skiing, as these could be the deciding factor with would-be short term or long term renters.

One such new development is in the Champagny en Vanoise region of the French Alps. The property developer MGM is building 75 two bedroomed apartments in a wooded part of the Paradiski skiing area which boasts a ski slope of 420km. The Alpages de Champagny development cannot simply be considered for skiing only as it will contain an indoor pool, Jacuzzi’s and fitness rooms.

The development is in the heart of the Vanoise National Park so hiking is also an excellent option. Additionally, the developer is offering a leaseback scheme and guaranteed property rental. Prices will start at €191,000. See MGM Constructeur  for more details.

This new build Villa based in the Moraira area sits in an enviable position 170 metres above sea level affording excellent views of the Mediterranean Sea and the beautiful countryside that surrounds.

The Villa is 3 bedroomed with the benefit of 4 bathrooms. The internal property dimensions are 330 square metres.

Cumbre del Sol is located between Moraira and Javea and can boast a number of excellent facilities such as a supermarket, restaurants, bars, bank, a medical centre and a private beach.

The villa price is £387,228 (€573,097)

To contact the vendor visit Foremost Villas

If you are interested in purchasing Spanish property see our Spanish Property Buying Guide