I agree the flight prices from the UK are expensive but there is a wider European market where the flight prices are a fraction of the cost which people who wish to rent to can tap into.
We have 2 properties here in Hurghada one which will live in and the other we will rent out.....but there are lots of options we could rent to a foreigner who works here long term rather than depend on the holiday market.
I know this is'nt an option for those who wish to use the property themselves and rent it out to help recover the costs.
All i can add is that property here is going up all the time and even if they dont rent the resale value will earn most people great rewards.