And here they are:

1. Foreign investment in these countries has increased since EU membership, and will continue to do so.
2. Greater economic activity will create more domestic demand for property.
3. Most of these countries' property markets remain relatively undiscovered by outsiders - and domestically, property ownership is still a relatively new phenomenon.
4. Most countries have a number of highly attractive locations for tourism development and vacation homes - another factor to increase demand as these areas are developed.
5. Restrictions and barriers to foreign ownership of property, where they exist, are almost certain to decline, as will overly complicated procedures for purchasing, which will boost property demand.
6. Generally there is a good stock of old, character properties to be restored.
7. Entry-level prices into these real estate markets are still extremely low outside of the most popular tourist destinations.

There are two other particularly important factors why now is the time to invest in this part of the world.

i) Being a trailblazer has the potential for the greatest rewards. These markets represent fabulous untapped potential, especially for tourism in the major cities.

ii) EU membership, with all its checks and balances, offers a high level of security for investors.

There are FOUR clearly identifiable phases that are central to providing major boosts to the property market in the Eastern Eight:

• Anticipation in the run up to EU membership
• Advent of EU membership
• Anticipation of membership of the Euro zone
• Actual introduction of the Euro

Investment in new EU member countries tends to rise several years after they join. We can even consider this to be another key phase.

And the savvy investor will consider all of these phases as investment opportunities.

In short think like a big-time investor and identify the key phases that will help act like turbo chargers to the property market in these countries.

It's also important to bear in mind that there are currently some barriers in place in some of the markets we're considering.

In the Czech Republic, for example, it is not possible for a foreign individual to own property. The same is true in the Slovak Republic.

While there is a fairly simple way around this restriction, it acts nevertheless as a psychological hurdle that dampens foreign property investment in the countries.

It's true that some of the barriers that had previously been in the way of investment in these countries came down when EU membership took place. Some, however, remain. And they're likely to remain for several years.

When more of the barriers come down, as they surely will, then if all other factors are equal, increased property investment is bound to follow.