Unlikely as it may sound, Mongolia is being tipped as the new “hot” destination for foreign-property buyers. Property Frontiers (01865 202700, www.propertyfrontiers.com), which specialises in exotic destinations such as Belize, Malaysia and Ras al-Khaimah, in the UAE, claims that Ulan Bator, the rather soulless Soviet-influenced capital, offers the highest rental yields in Asia (20% or more) and good prospects of capital gain.

Prices for flats in its new Regency Residence, expected to be ready in June next year, start at £33,000 for a 63-square-metre one-bedder, rising to £72,000 for a 130-square-metre three-bedder. The company says a shortage of suitable accommodation for the foreignerspouring in to develop Mongolia’svast mineral reserves makes for a good rental market. How long it will be before they start selling yurts as well? Mind the steppe.

Convinced all those MEPs are living the life of Riley on your tax money? What better way of getting a slice of the euro-pie than buying a flat in the heart of Brussels’s European quarter that you can let back to them. Thornsett Group (020 7843 9500, www.thornsettgroup.com), the Irish developer, has received the go-ahead for a substantial mixed-use scheme 250 yards from the parliament buildings, which will include 108 one- and two-bed flats. They go on sale in June, with completion expected by autumn 2009. Prices start at £95,000 for a 39-square-metre studio; £594,000 will bag you a penthouse fit for a European commissioner. Shame Peter Mandelson is leaving.

As the Bulgarian Black Sea market “matures” — to put it charitably — Egypt is competing for the attentions of the British budget-property buyer. In Hurghada, on the Red Sea, Egypt Revealed (0845 054 8697, www.egypt-revealed.com) is selling flats in its gated Desert Pearl beach complex from just £19,800 for a studio. Quite a contrast with Norman Foster’s development in the same resort, which includes dune-shaped “palaces” at £15m.

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