In Barcelona real estate news today there is the story of a British family which sold up their London apartment and with the profits bought an entire apartment building in Barcelona. The apartment building has four floors and is located on Hospital Road in the Raval neighborhood. The building was constructed more than a hundred years ago and so need repair and renovation. However it is still a four storey property in the heart of Barcelona for the price of one London apartment – whichever way you look at it! The family intends to do the necessary renovations and then rent out the apartments on all four of the floors. Thanks to the rising price of Barcelona property the family will be able to make a tidy turn over if they simply wait a few years and then sell. This is what is called in the investment world – a sure thing!
A property of this kind, in this neighborhood is valued at approximately a million Euro and apartments in this area of the city are rented out for about €1,000 a month. The family should be able to sell their investment in a few years for at least €1.5 million after renovation. This British family is not the only one with this idea. Many foreign property owners are getting the same idea – why own one property when you can own an entire building in Barcelona for the same price. The trick is to buy doer-uppers, invest in some good renovations and in so doing raise the value before selling. Foreign investors are waking up tot eh fact that Barcelona properties offer good returns, whether it is as a buy-to-rent or as a buy-to-resale. Some attribute the British interest in Barcelona property as a result of Brexit, other experts attribute it to the Euro-Pound exchange rate and others simply the fact that investors identify Barcelona as a city where they can get good returns on their investment. Brits make up about 17% o the foreign market in Spanish house sales and this figure does not look like changing in the near future.
