The property markets across the EU have been boosted by news that economic growth is expected to pick up pace this year.

A report from the European Commission has found that conditions are now ripe for development and investors considering buying property in a number of the key European markets will be delighted with the news.

Earlier this week, the Office for National Statistics reported that the majority of UK property investors continue to look to Spain as the first choice for foreign property investment.

The European Commission has suggested that this might be a sensible move in that Spain is set to enjoy the most impressive growth of all EU countries this year, with the economy expanding by 3.1 per cent.

Areas including Murcia and Alicante continue to draw in property investors from the UK, with capital appreciation still extraordinarily high. Buy-to-let projects are also proving popular, however, with rental yields in Spain traditionally high because of the favourable climate and all-year popularity with tourists.

The UK should not be forgotten in terms of property investment either, with the economy expecting growth of around 2.4 per cent this year. As in Spain, investors need to be well-informed before making a decision on a property investment in the UK, with capital gains and rental yields varying widely from place to place.

The same is true of France, where the economy is expected to expand by 1.9 per cent this year. Stuart Law, managing director of property investment firm Assetz, has isolated Languedoc as a key area for house price increases, while the leaseback scheme across France remains popular with many investors.

In recent weeks, a number of property experts have turned their attention to Cyprus with many anticipating a property boom. It is a prospect that now seems more feasible after the European Commission announced that the country "seems to have corrected its excessive deficit in 2005".

Another country that is looking for improvements to the basic health of its economy is Bulgaria and EU accession in the next couple of years is likely to have a huge impact on this.

The success of the Winter Olympics in Turin has inevitably sparked discussion about the 2014 Games and Bulgaria is gradually emerging as one of the favourites to clinch it. Bansko has proved an extremely popular ski resort in the last few years and investment opportunities in the area have been bringing considerable returns to astute investors.

Commercial property investment in Sofia is also attracting interest, with office space tipped for a big future in accordance with EU accession and an influx of business ventures.

With the future looking rosy for the majority of economies across the EU and a number of Eastern European countries expecting to join in the next few years, property investment for UK residents is becoming an increasingly complex issue.

The need for expert advice is perhaps greater than ever, although the rewards for those who invest smartly have also never been so impressive.