Owning a home overseas can be great investment for a couple of reasons.

Firstly, having a place to get away to when necessary is very calming. A cottage in a forest somewhere, or a place by the sea, is the ultimate retreat from the hustle and bustle of life in Britain's overcrowded cities. If you are looking for a place by the sea, the Canary Islands could be the perfect destination for you. Canary Islands properties are available on all of the major islands - Gran Canaria, Tenerife, Lanzarote and Fuertaventura - and offer year-round sunshine. One of the main perks of having a place in the Canaries (apart from the weather) is the fact that the islands can be easily reached from Europe and flights run daily from Britain's major tourist airports.

Another great location if you are looking for sunny beaches and glorious coastline is Croatia. There has been a recent boom in the value of property in Croatia, as more and more money flows south-eastwards from Britain and Scandinavia in particular. There are still fantastic deals to be found on properties in Croatia, making it a very attractive proposition for property investors who are generally more interested in the bottom line than the dreamy Mediterranean location.

This is the second great attraction of purchasing overseas property: the potential financial rewards of a well-timed investment. Britain's property market is significantly higher than that in almost every other part of Europe. Prices of London property are close to those of Monaco property, making a lot of people who purchased before this boom into potential overseas property investors. While second homes are liable for Capital Gains Tax (primary residences are not), investments in property have outperformed all others in the past 25 years in many parts of the world.

The internet and the spread of budget airlines have changed the property market. Now, before even contacting an agent, it is possible to browse through thousands of properties in hundreds of locations at any time of day or night. Budget airlines mean that flights to check out properties in Greece needn't cost more than a train ticket from one end of England to the other.

Well-timed investment in the right location is a great way to earn money in the medium to long term. Estonia property, Bulgaria property, Romania property and Macedonia property all look set to be great bankers in the coming years, although it is important to note that the value of property, as with all investments, is not guaranteed to rise.