They do, however, say that traditional locations, like France, are tipped to do well in 2010 which is excellent news. Savills research also tips SW France as a "hotspot" (which is kind but a tad optimistic given our stage in the recovery cycle - they're right about the stock, infrastructure and prices though).
It's doubly excellent because they have very kindly included a comment from yours truly.
Graham Downie runs Cognac Property Services, a buying agency in France's Charente region, and says the report's findings ring true.
These days he sees few British investment buyers or profligate leisure purchasers. "You can buy a beautiful Charentaise house with pool, gardens and views for £250,000 to £350,000. There's no need to break the bank. My clients are driven by sunshine and quality of life," he says.
First the Indie and now the Telegraph.
Whatever next, I guess the only place to go from here will be the Financial Times....