Edouard: Even if you put 500K Euros in a simple bank deposit at 5% p.a., you get 25K Euros interest = $36K p.a. I think you can rent a pretty nice place for $3000 p.m. and still keep your powder dry. Of course, you can always add another couple of thousand $ from your salary and get a really nice place for $5000 p.m. Why do you want to rush and buy real estate in a foreign country when the locals are too scared? I left San Diego on a job transfer and that is what I am doing here in Portland, Oregon. If you read this and other housing blogs, you will realize how much systemic instability we have in real estate & economy. Waiting another year is entirely sane.