15 - Austria
Home of Mozart, apple strudel, Arnold Schwarzneggar and the seat of the Hapsburg Empire, Austria comes in at 16. Average prices are just over £130,000 and in some ski areas you can pick up a one-bed apartment for £185,000. 211% return
14 - Ireland
Ireland is the country with the highest home-ownership in the EU at 83%. House prices here have been fuelled enormously by EU membership in 1997 and have almost quadrupled in eight years. But this surging demand has not abated and, whilst you’ll have to spend more to get your property in the first place (average prices are around £170,000), you could still more than treble your money in 10 years. 222% return Country guide >>
13 - Czech Republic
As a non-Czech citizen, it was previously very difficult to buy here. However, accession to the EU in 2004 has brought changes that paved the way for foreign nationals to invest in property. And they are in their thousands. This country is experiencing massive increases in tourism (Prague has become the stag-do capital of Europe!) and 20 UK airports fly direct to Prague.
Unilever, Shell and Tesco are all investing heavily here, taxes are being reduced and locals are being allowed to borrow money at ludicrously low rates (2%) through government subsidy. The government’s statistical office predicts that demand for property will outstrip supply for years and years to come. Average property price is £45,000. 260% return
12 - Germany
Germany has the lowest rate of home ownership in the entire continent at around 40%. Most people rent their houses, mainly due to the inavailability of mortgage funding. As a result prices have been stagnating or even falling for 10 years. This is all set to change with more flexible mortgage lending and access to finance which is likely to bring prices in line with other major EU economies.
The situation has been compared to the UK just before Margaret Thatcher enabled people to buy their council houses. The UK property map for the last twenty years could well be mirrored in Germany. People are buying whole apartment blocks in Berlin for less than EUR1m which will be sold in time as individual units and the possibilities for making cash are considerable. 261% return
11 - Luxembourg
Luxembourg has the highest number of Michelin starred restaurants per person and is the most expensive place to buy property in the whole of the EU. In spite of the hefty price tag, prospects are looking good for the future. This tax haven has the highest income per person in the world and demand for property is as strong as ever. Return 263%
