Canny investors are using the strong Pound as an excuse to channel money out of the UK an into property overseas. While making any kind of investment brings with it an element of risk, property is usually a great medium to long term investment - particularly if you choose the right location at the right time. Anyone who invested in Spanish property in the Eighties or Bulgarian property at the turn of the century will attest to that. Nowadays, international property sale is bigger business than ever.

When you think of property investment Cyprus is often one of the first places to spring to mind. The island has some of the hottest weather in Europe and is an ideal investment location for sun-worshippers. Britons will feel strangely at home in a country which uses Pounds as currency and may be surprised to learn that the Cypriot Pound is actually more expensive than its British cousin. Lovers of garage and grime music will also be well aware that Cyprus is the home of trendy resort Ayia Napa. Constructions on the island are often similar to properties in Greece (which administers the larger part of Cyprus).

If you are looking for year-round sunshine, a Canary Islands property could be just what you need. Lanzarote, Tenerife, Gran Canaria and Fuerteventura are the most popular and largest of the Canary Islands, which are officially part of Spain. The islands have a long and interesting history and are named after the wild dogs that the first colonisers found roaming the Island (and not the yellow birds, as many people assume). Property prices in the Canaries are reasonable and the islands are popular with older investors, attracted by the mild climate and relaxed pace of life.

Another choice which is popular among sunshine loving Britons is Malta. Property in Malta is relatively affordable, with €100,000 being enough to purchase a reasonable-sized flat in any of the popular tourist locations in the archipelago. Malta is famed for it's dry heat (it sits south of Sicily) and fascinating history which can be traced back as far as 5200BC. Malta is home to probably the oldest freestanding structures on Earth: the Ggantija megalithic temple complex, which dates back to 3500BC.

A relative "new kid on the block" is Croatia property. After Yugoslavia's civil war all but destroyed tourism and foreign investment in Croatia the country has shown amazing bouncebackability in the face of adversity and become one of Europe's popular "sun and sea" destinations once again. Real bargains are to be found in the country and levels of property development are going through the roof.