When we first looked at Prague investments back in January of this year, a foreign investor (buying via a company as is required) would have paid 6.8% annual rate.

However, just two weeks ago (and as a result of EU membership), the percentage figure for foreign nationals has dropped to just 5.2%

That compares to the 4.99% paid by Czech nationals.

So, suddenly, the whole property market has got a whole lot cheaper! And will continue to become cheaper as the local banks start to offer more flexible loans over longer periods.

And so, these properties are now attracting investors in their hoards and you can be sure that prices will be driven higher.

Our experts on the ground in Prague take a fairly conservative view that capital values will grow 10 to 15% this year AND rents will also increase 10 to 15%.

My view (based on the experience of what happened in the UK) is that when the cost of cash falls, you can expect a huge increase in property values - towards the level of 20 to 30%.

Equally, current Czech law requires foreign nationals to purchase property via a Czech company. This process has traditionally made it hard for small time investors to get into the market. But, again, we are hearing rumours that the process of setting up a company will be simplified (and possibly removed) for EU nationals.

It is not a matter of 'IF' but 'WHEN' this process is simplified and then removed.

And, as it becomes easier and easier to invest in Czech and other parts of East Europe, so, properties values will move north.

The benefit of moving into this market now is that you capture most of the capital growth, by positioning yourself in a positive environment where you know that both economics and legislation are moving in the right direction.

So, the challenge is to find an 'easy' way to enter this market. And that means having the right mix of local experts. Clearly, not a simple thing to do, but that is what we believe we have achieved with the Eucon deal.

And this mix of local professionals, booming market and almost perfect properties positioned for greatest demand is why we believe the Eucon deal is the best deal in Europe.