I bought a place in Barcelona in 2012. Here are my observations:
1. Prices are negotiable.
2. Barcelona is a fantastic city.
3. Remodel prices vary, but I’m doing a complete ‘gutting’, including removing all interior walls and a load-bearing wall, and I think that I will hit 80,000euro for my 89m2 place. This includes the IVA of 20+%. We could do it for less, but I like nice things. 😀
4. Make sure the mortgage doesn’t have a “floor” on the interest rate, meaning that while the bank says the rate be something like 1.25% over Euribor, there may be a “minimum” rate that exceeds that amount.
5. Unless there is fiscal or political calamity, home values in Barcelona will eventually rise. It is one of the world’s most well known cities, and, even though Madrid is the capital of Spain, more tourists visit Barcelona than Madrid.
6. There is a lot of ‘legwork’ involved with buying a place. I recommend that you find someone to assist you.