Barcelona Hotels Articles

June 15, 2010

5 Ideas for Buying Property in Barcelona, Spain

It is an interesting time to invest and buy property in Barcelona with the economy looking slightly rockier than it has over the last ten years and with prices having dropped by up to ten per cent in some areas of Barcelona. This is certainly a volatile time and one which is difficult to predict.

Barcelona nevertheless continues to be a place which attracts a large number of British and Irish investors in particular and although the number of people from outside of Spain has dropped off a little, interest in Barcelona properties is still high. Below we discuss 5 simple ideas for buying property in Barcelona.

1. Buy centrally. Although it might sound obvious at first, in Barcelona there is even more value to living as central as what your budget permits, because unlike in a country such as the UK, where the rail network for example is overall very good, it is not so easy and practical to commute from areas outside of Barcelona for example. A number of people do live in ex-pat areas outside of Barcelona but you will miss out on a lot of what makes Barcelona attractive in the first place.

2. Bargain. Do not be afraid to make some cheeky offers when putting in an offer for an apartment in Barcelona because some owners do take a chance by trying to charge a fair bit more than what their apartment in worth. You can of course also return with an improved bid if need be. Again, this might sound obvious only this idea of bargaining is even more relevant than one might place value on, in a country such as the UK or Ireland.

3. Research and plan carefully how you will transfer your money because the exchange rate can make a huge difference to the overall expenditure you incur. The Euro to the British pound for example has changed 10% over the last 6 months and ten per cent difference I am sure you agree is quite significant.

4. Spend some time there first. Yet another idea you may think is too obvious yet so many people buy an apartment in Barcelona based on hearsay, that it is necessary to say that it is worth spending a few weeks or months in Barcelona if you can, before buying. It is staggering in that a lot of people spend more time researching buying a DVD player or an MP3 player than they do buying a property. Spending time in Barcelona will really give you a chance to at least know which area best suits your needs.

5. Transportation. Consider carefully where the transport links are in Barcelona because you might find yourself relying on public transport more in Barcelona, than you otherwise are used to. Parking can be quite problematic and also very expensive and with an excellent subway train system, public transport is good in Barcelona.

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