Mortgage currency choice

Can someone confirm my understanding which is as follows please?

If a country's currency is currently overvalued, then if one is buying a property in that country, wouldn't he or she be better off borrowing in that currency to finance the purchase of a property there? That way, while the euro equiv of the property value decreases so does the mortgage and therefore currency risk would only be on the equity one has invested.

given that your rental income is in the local currency it makes sense to have your liabilities (borrowings) in that currency too. Though, if a currency is due for a correction, this can often be a signal for interest rates to increase as the local central bank moves to offset the inflationary inpact of an effective devaluation. You ought to be aware as well that a perceived overvaluation can persist for a long time. Many people think that the $ is overvalued (given the huge twin deficits) but a significant correction has failed to occur.