The clamour over the Hungarian presidents admissions that he may have 'sexed up' the country's financial state seems to have died down and now, with Hungary on the verge of joining the European Union, we must start to think about investing there.

Property is the obvious choice. Radio Stations, in the UK, are firing warnings about a mass influx of Hungarian workers who can, obviously, earn themselves a higher standard of living in the UK than they ever could by remaining in their homeland but, leaving the scenery and the culture behind, there should be huge opportunities for property investment.

Budapest is already alive with developments but the main tourist draw is Lake Balaton, its beaches and its lifestyle. The Germans and the Italians already make a beeline for the Balaton shores and its here where we believe that the property investor can realise huge ROIs. One development takes our attention as, with the backing of CIB, Hungary's third largest bank, any investor can get an 80% mortgage, a debit card and internet banking, pay just £120 per month in interest and, having been put in touch with a holiday lettings and management company, earn an income, without having to do anything, of well over £2000 a month per unit.

With property in the area predicted to rise at 419% over the next ten years, this has to be the snip of the year. A quick trawl of the internet brings up several sites which have details of the BL Yacht Club development. We would strongly advise anyone with any aspirations to take a long hard look at investing in Hungary right now, before its too late.