European countries in debt are increasing in popularity for investors seeking holiday homes and rentals.

Among property investors planning to purchase their holiday homes from another country, 8 out of 10 are eyeing the European countries most hard-hit by the recession.

Several of these debt-burdened countries, namely Portugal, Ireland, Italy, Greece and Spain, have been grouped into the somewhat insulting acronym of PIIGS. They are inundated with debt, and Portugal, Ireland and Greece have necessitated a bailout to stay afloat.

Analyst Stephen Hughes stated that, with the exception of ..........