My 2 penneth for whats its worth.
If this is your 1st investment with a limited budget, Argentina could be a problem, geographically somewhere closer to home would probably suit you better.
All cheap off plans in emerging markets, Bulgaria, Morocco, Romania etc can be a headache, usually take longer, not easy and not guaranteed to flip. Also the real profit in these areas will be when the countries infrastructure has improved greatly.
I would suggest Berlin, has everything going for it, great prices, AAAA+ infrastructure, can come tennanted or rent yourself, a 5 year plan to get the most out of it.
When I sell 1 of my investments that where Im off to.
I think i read that the CGT in England has fallen to 18%, if this is true than i wouldn't invest in Germany if i lived in UK.
Actually i wouldn't invest in Berlin anyway. Its a long term investment. CGT is 25% if you sell before 10 years. Guaranteed Rental will probably be 4% - 5% which will just fall short of mortgage repayment per month as far as i know. If it is above 6% than you will pay income tax on it. If it comes tenanted you will prob never be able to live in it yourself but that may be of any interest. Rental terms are usually fixed for 5 - 10 years and i think most are not index linked(i.e. In 10 years you will still be getting the same 4 -5% of the purchase price!!!). I think you can get a mortgage for up to 60% of purchase price.
The rental gains are not very good. Thats if you buying for rental ? Its safe but it may not make you much money. The culture in Germany is a rental culture and i don't know if it changing at a fast pace. So it may be more difficult to sell. If i had to but there it would only be a commercial venture.
If you wanted a safe investment, better rental, better capital appreciation than you would be far better off in France with a Guaranteed rental scheme, even a lease back and with far better chances of selling it. No contest.Not even close. You actually be far better of in Bucharest than in Berlin. i think anyway but thats just me