A few years ago there were three key European countries labelled the property hotspots; countries with the fasted rising house prices:

England (UK), Spain and Ireland. This was around 2005. Of course other countries from the Baltic's to the Adriatic were in the same league, but these were new, emerging markets. In those days the experienced investors made a quick calculation:

Take the rent for a property per year and relate it to the property value - what is the yield.

If the yield is below what you get in any secure investment then there is little incentive in joining the so called "buy-to-let" market. Some people pointed out - don't let it - just buy and sell it the rising market and you can make a profit just in the time it takes to do the paperwork. In Spain people were buying of plan on green sites and sold along the way as the buildings started growing into the sky making good profits - while it lasted. Slightly more restricted but along similar lines many projects shoot up like this in Ireland and the UK.