Comment by lrem

I'm afraid that even without the foreign investment one can't win this. Europe still sees a minor population growth. More importantly, there are large migration flows between countries, regions and to cities in general. This means that even in places with no/very low foreign ownership and virtually no vacancies, you still have runaway markets. Dublin is a good example of that. Same stands for almost every place where I lived. With the exception of the French Riviera, where the runaway market is indeed fuelled by vacancies, likely foreign-owned.