How to invest 60k EUR in Catalunya Spain

[Johan Petter]

Hi,

I am an expat working and living in Barcelona since 3 years. I have a fixed work contract and a Northern European salary.

I am looking to invest 60k as a down payment in a property priced at max 200k excluding taxes and other fees. My aim is to find an apartment at a good price, preferably in a condition that needs to be renovated since I want to see it as a project and use my creative side. My plan is to rent out the apartment since flipping apartments at this value doesn't make much since cause taxes and other fees usually eats op the profit, correct me if I'm wrong. Add to this I have no rush waiting until I find a bargain in an area I believe in and worth buying.

My few questions to people with experience buying/selling/renting apartments in Spain, specifically Barcelona Catalunya, are:

What % of down payment does the bank usually ask for?

Is it worth buying outside the centre of Barcelona i.g Badalona, Hospitalet etc.?

How much per m2 can I expect to pay on a renovation that includes - kitchen, bathroom and finishing of walls, floor? Apartment around 35-40m2.

What is your experience with the laws and your view of Ley Vivienda? Is the land lord not so much in favour?

Is renting a good way to pay of mortgage and still make profit?

Looking forward hearing from your experiences!

Cheers