Buying to rent is still viable ... but in another context and in another country.

France is the world's n°1 tourist destination and many UK and EU citizens buy holiday homes, gite complexes and B&Bs to cash in on the summer letting market.

There is usually a 8-10% return on investment and you get a nice place to live in for 9 months of the year as well. Prices are still falling in France (the Economist reckons they have another 30% or so to fall) so now is the time to start looking.

There's a number of specialist agencies like gitesavendre.eu and gitesforsalefrance.com which deal exclusively in these sort of properties - most of which are going concerns.

Or you can do what the Brits did in the 90's and buy up old ruins and barns, ferry down a gang of lads in a white van and do it all yourself. Either way, for less than €800k you could have 40 odd acres of land, 3 or 4 holiday houses producing a sure income stream and your own house to while away those pre-retirement years!

In today’s day and age finding a vacation home on rent and to know about it cost, is not an difficult task.As far as the property prices are concerned, they will always keep rising; therefore it is the right time to buy a new home. There are many websites to help you along.

I have stayed at vacation rentals in Mexico, London and Alaska. Several reputed real estate firms in London such as plazaestates.co.uk, charlesestate.com, frequently give special offers on short term rentals.