But that&#x27;s what inflates property markets -- investors buying and selling multiple properties, realtors identifying and driving growth in this or that neighbourhood. London, SF, Sydney or Vancouver are all awash in investment cash for properties, that&#x27;s what drives prices.<p>&quot;In the context of property used as a residence&quot;, most European countries do not tax first homes, end of story. It doesn&#x27;t stop prices from growing.