UK property could benefit from EU expansion

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UK property could benefit from EU expansion

BRUSSELS, EU - According to industry experts, the UK housing market could be set to benefit from the inclusion of ten new countries into the European Union.

John Wriglesworth, senior economist for property website Hometrack, said the forthcoming EU expansion could lead to more than 100,000 people coming to the UK in search of jobs and accommodation.

On 1st May Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia will all join the union.

"There is no doubt that the new members to the EU will open up the floodgates for migrant workers into the UK," Mr Wriglesworth said.

"This could have a major impact on the buy-to-let market, especially in London and the South East where most new job opportunities exist" he added.

Nick Clark, managing director of Home-buyer Events, said the EU expansion could lead to the influx of "potentially hundreds of thousands of people".

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