Hi Ardo

I like all those markets for differing reasons. Of course they both have negatives but that is the case in all established markets as well as emerging ones. We do not sell as yet in the Ukraine but I quite like the sound of the ski regions that I have seen advertised although I have not looked closely enough to find out about mortgage finance and other economic detail. Albania is a country I know alot about and we actually market through Albania Estate. Albania is the last of the warm and beach front emerging markets in Europe and it has alot going for it for the savvy investor.
There is mortgage finance available at 70% LTV,
the currency for property sales is the Euro,
the main European banks are situated in the capital
the price per m2 starts from 550 euros for legal developments with finance
strong local demand for middle class affordable property
good exit strategy
good rental in the capital
first beach front development
no vat, no purchase tax, no capital gains on property bought by individual.
High capital growth and 500kms of beach and numerous mountains for skiing.

Montenegro works better know for the investor as we at Damen Real Estate have certain developments available with mortgage finance at 70% LTV at 7.5%. Montenegro is an amazing country. Stunning in its beauty it is going to be firmly on the map in the years to come as one of the most important countries in the world to visit. It looks like being the Monaco of the Adriatic with its new marinas, motorway, golf courses ,5 star hotels , casinos and tax free life style all within 2 and half hours of UK and Ireland.
There is only 2 % purcahse tax and limited scaled capital gains at this time.
Capital growth of around 30 - 50% a year in places
Unesco protected sites
Predicted highest growth in tourism in any country in the world by 2010.

Dominican Republic is still emerging and is no doubt beautiful in parts. I personally don't think that it has the same overall beauty of many other Caribbean islands but it is still one of the cheapest for a country that has more infrastructure than some. We do market in this country through mypropertyworld but for you I don't think it is quite right yet.
The trouble with investing so far away is the distance and how much control you want to have from your investment. Whether it be new build or land.
Finance is available to purchase but if you are just starting out in the world of property investment, I would look closer to home and build from there.
You do need good capital growth to give you leverage but must do your due diligence wherever you look.
Feel free to ask me for advice on investing in emerging markets in general.