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Look Before You Leap |
In addition to being a great place to live, Barcelona makes good investment sense. Apartments here are a fraction of what you’d pay in other European cities... and I believe the prices will go up dramatically in the not-too-distant future. More on that in a moment. Art Nouveau
But most of the city is a pleasure to look at and be in. There are wide, tree-lined boulevards, clean streets and sidewalks, first-class shopping, many theaters and restaurants, a bullring, large city parks, and a port packed with sailboats. Museums and monuments dot the city, many dedicated to the city’s two most famous artists—Picasso and Joan Miro—although both left for Paris to avoid the Franco government. Like the rest of Spain, Barcelona stays up late. And it’s not just teeny-boppers in skimpy outfits heading to the discos (although there are plenty of those). It’s also regular middle-class folks exercising their dogs, eating ice cream, walking the streets, sitting on park benches, sipping coffee…all at 2 o’clock in the morning. They even collect the trash late at night. As I walked around the city at 2 a.m., twice I had to get out of the way of garbage truck workers in orange uniforms.
Post-Franco Recovery Real estate
and rentals in Barcelona are surprisingly inexpensive…and a very sound
investment, particularly right now, if you’re paying with dollars or sterling.
Prices are relatively low because Spain is still digging itself out of
General Franco’s socialist mess. The country has been steadily improving
since its plunge into democracy after Franco’s death in 1975, but it still
has a way to go to catch up with the rest of Europe. The economy grew 3.7%
last year (and has grown more than 3% per year for the past four years).
The government has done a good job cutting taxes…and promises, as do most
governments, to do even better. More than 100,000 small businesses were
started last year in the city, and unemployment is down to 15% or 20%,
depending on who you believe. I was told by one Spaniard that the unemployment
rate is actually much lower than this because many Spaniards work but claim
not to in order to collect unemployment checks. Despite these improvements,
on the whole, the average Spaniard is still poorer than the average Frenchman,
Brit, or Italian, for example. So property prices, even in bustling Barcelona,
lag behind comparable European cities.
Apartments from $120,000 In Barcelona Metropolitan, a free English monthly about living in the city, the most expensive flat I found was a 777 square foot apartment on Meridiana Avenue, in the center of the city, for Ptas85,000 a month (US$485). It has three bedrooms and is fully furnished. Another good place to look for apartment listings is La Vanguardia, a local (written in Spanish) newspaper (www.lavanguardia.es). Here I found a three-bedroom apartment in L’Eixample, the city’s famous historic district, with a balcony and a full kitchen. Price: Ptas55,000 a month (US$314). You could certainly rent a nice two-bedroom apartment in one of the best parts of town for $450 to $750 a month. And you can buy an apartment, in the old part of town, for less than $150,000. I saw a 3-bedroom, 1 1/2-bath apartment with a dining room and a kitchen for Pts21,000,000 (US$120,000)…and a huge 4-bedroom, 1,200-square-foot apartment with two bathrooms, an office, and a kitchen for Ptas40,600,000 (US$230,000). Barcelona would be a perfect place to spend a few weeks every year. You could brush up on your Spanish at one of the city’s many language schools, catch up on your late-night partying, or go to some of the nice beach towns, such as Sitges, no more than a 20-minute drive away. Here are some more properties on offer right now: • A 3-bedroom, 2-bathroom, 914-square-foot apartment with a large terrace, a storage room, a dining room, a pantry, and a fully-equipped kitchen, and an elevator, for Ptas 18,200,000 ($105,236). • A 2-bedroom, 1-bathroom, 656-square-foot apartment with a dining room, a kitchen, central heating, a storage room, and parking, costs 13,300,000 pesetas ($76,903). Contact Qualitat 2000; tel. (34-93)8711-736, fax 970, e-mail: rialbi@retemail.es, website:www.partal.com/cardedeu • A third-floor, 914square-foot apartment, in a 40-year-old building, has 2 bedrooms, 1 bathroom, a lift, a kitchen, a living room, and a dining room. There are parquet floors throughout the entire apartment. It costs 25 million pesetas ($144,509). • A 645-square-foot
penthouse apartment, close to the plaza de toros (bullring), with a sea-view,
windows with mosaics, and a 323-square-foot terrace. It comes fully furnished
and has 2 bedrooms, 1 bathroom, a kitchen, and a dining room. Price: 29.5
million pesetas ($170,520). Contact Van Den Hout Enterprises; tel.(34-93)2653-515,
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