Bulgaria

A country roughly the size of the UK but boasting over 350 kilometres of beaches as well as three of the top ski resorts in Europe, Bulgaria is often seen as the 'next big thing' as far as property investment is concerned. Having only recently embraced western buyers after its EU membership was granted at the start of 2007, the country's living costs are some of the lowest on the continent, and property prices verge on the absurd - that is, the good kind of absurd.

Bulgaria has become almost a byword for the advantages of international property investment, and stands as one of the fastest advancing nations in Europe. There is plenty to draw in the crowds from outside nations: the aforementioned beaches and ski resorts combine well thanks to the continental climate of the country, with hot summers and cold winters - there can be an annual temperature variance of around 50°C - and when you hit the slopes, you're not going to be paying Alps prices. There are also huge stretches of hiking paths in the mountains, and the country is rapidly moving away from its agricultural past and moving towards tourism and industrialisation. The property market is constantly and swiftly evolving but able to take a rather more enlightened approach with the benefit of hindsight, with the government granting permission only to high-quality developments but making sure to safeguard the many national resources and parks dotted around the country.