Investing in property can be very profitable and is seen as a good hedge against an inflation. Here are 20 of the best cities in Europe for investing in property.

Property investments have proven themselves to be instrumental in the personal financial success of many people. There are many reasons why this is so, not least of which is the fundamental need of people to have somewhere to live.

Not every location will have prospective tenants queuing up, rent money in hand. The property markets in many places are also skewed by unrealistic prices. Timing and location are the key factors to profitable investment in property, so here are twenty of the cities in Europe to grab a buy-to-let house or flat at this current moment in time.

Budapest, Hungary

Despite there being certain restrictions and taxes levied on foreign owners, there are plenty of bargain prices available in Hungary. The capital Budapest is the place to target, because the rental market is strong here, and you can sure of a decent rental income.

Skopje, Macedonia

The most famous Macedonian is Alexander the Great. His conquests of Asia minor assured him a place in the history books, could your conquest of the Skopje property scene do likewise?

Amsterdam, Netherlands

Along with all the canals and tulips, there is a lot to recommend Amsterdam for property investment. Although the legal system can sometimes seem to be unfairly skewed towards tenants at the expense of landlords, a resilient economy keeps demand high.

Istanbul, Turkey

The bridge between Asia and Europe Istanbul has always been a melting pot of cultures and a hive of economic activity. Tax rates are quite high here, and any rental income you receive will be subject to them so it is vital that you factor that into any calculations when evaluating investing here.

Zagreb, Croatia

Unfortunately there are limits on how much property a foreign owner can hold here. This is a shame, because the tourist appeal of Zagreb is very high. An investment here would be something of a gamble due to economic instabilities, but many see this region as being ‘up-and coming’

Of course any investment in property is a long term commitment. That can mean having capital out of reach for long periods of time, as well as having to ride the economic roller-coaster along with everybody else. It may be that you are better off having your money kept in a more liquid form such in savings accounts.

Buying property abroad for whatever purpose is never exactly straight forward, and for the investment buyer this is only the start of the difficulties that can be encountered.

Having absolutely trustworthy help and advice local to the place that you are buying is an absolute must. Take very great care indeed in selecting the person or company that is going to be managing the property on your behalf. In every country this sector is plagued by rip-off merchants, so finding a representative that will not take advantage of the fact that you are in a distant country is a must.

What are the rights and protections that you have if you use your credit card to make purchases while you are on holiday?

Tourists spend money. It is as simple as that, there is the reason that there is a travel industry and the reason that when you visit some places you get the feeling that you a being looked at like you are a walking cash machine. We go on holiday, we spend money, but maybe it is time to think about how we are paying.

There are certainly advantages to paying with cash. It is accepted everywhere and can be used to buy anything, but there are problems. Firstly it is vulnerable to loss and theft. On top of this changing money into foreign currency before a trip and changing the leftover back is a hassle, and the authorities will treat you like a criminal if they find out you have a decent amount on you.

A fact that is not very widely known is that if you use your credit card to make purchases abroad then this means that you can get some of the benefits of British consumer rights legislation. The law concerned is the 1974 Consumer Credit Act, which is worded in such a way as to give exactly the same protections for purchases on credit cards that are made abroad as those that are made in the UK.

If you go on holiday and make purchase with cash that turn out to be defective, then the chances are that you are on your own, at least as far as the British legal system is concerned. Luckily due to provisions buried in section 75 if the Consumer Credit Act if you pay by car you can take action against the card issuer rather than the dodgy trader in a far away land, which is much easier to arrange.

The loophole is because purchases made with credit card are classed as so-called ‘commercial agreements’. That is so long as the item being purchased is worth anywhere between £100 to £30,000. This still applies if you only used the card to put down a deposit on the item and made some other kind of arrangement for the rest.

Of course getting your credit card company to actually pay out for these kind of claims is another story. It may not be enough to raise your grievances with them, the call centre operative that you speak to is unlikely to be especially helpful, which is why it can be helpful to have proper legal representation. Solicitors that are well versed in consumer rights law will know how to get action. The law is quite clear in these cases, so things should progress in a straightforward manner.

So, next time you are abroad and are making a sizeable purchase, think twice before handing over cash or a cheque, as you may find yourself wishing that you had some means of redress.