My company advised clients (home builders, land developers, financial institutions with RE holdings, etc) on their assets and also provides market forecasts for most major MSAs in the US.

Two final items to consider: you will make your money when you purchase the land i.e. buy it right AND "you will walk a little different on land that you own" a memorable quote I received from a Eastern European refugee (Russian invasion 1952) that was purchasing 80 acres from me in 1981,  He had become a millionaire in America and enjoyed owning Land.  

Downtown CBD has lower crime than most major cities.

But these markets are more of in an equilibrium so no big opportunity as it was US in 2012 and 2013.London is completely inflated in residential commercial is much cheaper.Other European countries could be a great opportunity particularly Greece and Portugal but they have not hit bottom yet, rental returns are low despite a 40-50% decline in prices and I don't see prospects for a fast recovery yet.  

All the resort properties are 70%+ American own, 20+% Canadian and a few% European.

Eastern European political & economic issues.

Europeans know well that it is a privilege for those who can afford a down payment and for those who have good credit.

2% rule in most major metros will land you smack dab in the Hood.. you won't get 2% in good neighorhoods in most of the big cities in Texas either.

Turns out the US sales guys made about three time the business volume than their European counter parts.

@Sidel Murray, you have confirmed what I'm worried about most...major damage to the property out of spite.