Spain has topped a list of countries for the best foreign property investments in 2010.

Maintaining its place from last year, the country once again ranked number one for A Place in the Sun.

New appearances in the list included the Caribbean and Bulgaria which ranked ninth and tenth respectively.

Christopher Chadd, project manager from emerging market property investment company Property Frontiers, said that the high prices in the Caribbean meant it was "out of reach" for many UK buyers.

But he added that shopping around could pay off when looking for a property investment in the islands.

"For instance Grenada is rapidly becoming one of the premier Caribbean island destinations, but prices for property are probably a third of what they are elsewhere in the area," said Mr Chadd.

However, while the established markets have such low property prices, Mr Chadd predicts that Brits will "play it safe" and look at property in the more traditional countries.

He commented: "The likes of the UK, Spain, France, Portugal and the US have experienced massive price falls and as a result there is tremendous value to be had."