On the Catalan capital, prices fell by 29.6% since the first quarter of 2007, and continue to decline as they have still lost 3% in first quarter 2012 (source: study Idealista). A necessary evil given the prices before the crisis, and that allows many make a good profit. In the pleasant neighborhood of Eixample and Gracia for example, estimated that prices have fallen by nearly 25%. The price per square foot in these neighborhoods is now central and deemed equivalent to that of a French provincial town like Toulouse and Marseille, and it is possible to buy a flat much cheaper in the Catalan capital to Lille or Lyon. A comparison attracting many foreign buyers, attracted by the city of Gaudi, its climate, its beaches but also its accessibility through an international airport in less than twenty minutes by taxi from downtown.

http://www.locabarcelona.com/blog/2012/spain-real-estate-prices-continue-to-fall/?lang=en