1% Rule in Barcelona: kinda impossible. Worth investing anyway?

[Daniel Rongo]

I’m considering investing in some rental properties in Barcelona.

However I’m struggling to find places that respect the 1% rule. Monthly rent ends up being far below 1% (we look at 0.5% at max, at least in the city center).

Considering the very low mortgage rates, I should still be able to return some cash flow.  However, I’m concerned that investing in a somewhat overvalued property (at least when it comes to buy-rent ratio) I might be committing some rookie mistakes.

Thoughts?