Pro:Appreciation , which is almost similar to CA market, and much better appreciation than US nationwide appreciation.No huge amount of tax when selling,etc,etc,etcCould match with lifestyle or "partner" choice"Much cheaper and return is worthed the dollarCons:lower cap rate than USA in general, even compare to CALeasehold vs Fee simpleCurrency depreciationNo financingI am back and forth investing internationally and US in last few decadeThe huge advantage of US investing is that, in general, even for CA perspective, home still so cheap, go to new zealand or UK to understand the concept of "expensiveness" of real estate LoL

Like in UK they may have only 5YARM.

Like most cities in the US it mirrored immigration and gradually went from English to German to Irish to Italian, but when the 67 riots happened in Newark (the city next door), anyone who was white that could sell did so, at prices cheap enough that black families could afford to buy.

Do you expect continued rent growth and appreciation due to immigration patterns + city expansion?

I started out from a humble beginning as an Immigrant from Indonesia and currently living and working a W2 job based on the Southern California market. 

There is room for argument if Germany, with the current immigration / social structure, coupled with the left leaning policies of some Länder (Berlin as a example) which are very tenant friendly, is a place which can be a short to medium term play.Covid19 will also have a effect, less on low to medium range but certainly on higher end Residential; on commercial (which, by the way, is not a bad idea for a beginner!