Hi Noah,I can share a bit of my experience with you since I'm doing something kind of similar and I have a vaguely similar background, banking in emerging markets (in particular but not exclusively Latin America), which included emerging markets risk analysis.While I could invest in land because a) it is very speculative, b) it doesn't produce any cash flows, c) you cannot borrow against it and d) this is not were the money is.Instead, I buy condos well below market value to rent them short term in countries like Mexico, Panama, Colombia, Brazil, Spain, Portugal or Greece.

I have no interest in personally owning anything there and I would never live or retire there too many bugs and healthcare etc would be of great concern along with there are simply too many sneaky speed bumps on the highways :) For me if I was going out of country, I would go to Portugal personally.

Not in Germany Chris,Maybe in Spain or Portugal you will find cheap houses but there is a catch: These houses was for vacation disposition so no investment now I guess.

Where do hotel owners in Portugal hang out? 

Countries: Mexico, Panama, Colombia, Brazil, Uruguay, Spain, Portugal and others.

Hello, My name is Marc Struik, real estate broker in Portugal.

I look at all the countries who are facing real devaluation of their currencies Greece, Ireland, Portugal, and Spain to name a few and realize that it can also happen here.

Recently the bond ratings of Greece, Portugal, and Spain have been downgraded (Greece to junk bond status).

Some of these may be reduced two levels beginning with France and might also include Greece, Italy, and Portugal and Spain.

A fiscal onslaught for property owners is very likely if any of these scenario happensI would advise you to look into Portugal or Spain as alternative good luck!