My thoughts are:

Montenegro: Very, very hot market right now. The Russians have been in for a year and prices in key locations have doubled at least in that time. It still has a long way to go though as the country looks like it will become a playground for the rich and famous. If your budget is smaller, look inland or at the capital, Podgorica. The economy is growing fast and so the capital will grow in prominance as well.

Albania: For those who like a gamble, or have a diversified portfolio and can afford to take a risk. Yes, it's pretty much the only place left on the European Med where you can buy beachfront for under EUR1000/m2, but there's very little infrastructure there at the moment. I was reading a blog from an expat who has been living in Albania for several years and he wrote that there's no way he'd invest money in Albanian real estate at the moment.

Ukraine: This is not a new and emerging market any more - the Russians were in there buying many years ago. I was in Kiev a year ago and couldn't believe the amount of new developments or how high the prices were. It's the same in Crimea. It looks to me as if there will soon be massive over-supply on this market.

Dominican Republic - Our site at propertastic.com only covers Central & Eastern Europe and the emerging Mediterranean so I don't know what's going on in the Dominican Republic. I would imagine that Americans would have been in there a while back. Personally I am a bit nervous about investing in a market which involves an expensive long-haul flight to get to and from each time I wanted to go and visit.