The Barcelona property market

Barcelona remains one of Europe´s most desirable locations for both national and international property buyers who are looking for either a primary residence, a second home or an investment property. With its superb climate, excellent communication links to the rest of Europe, world-class gastronomy and vibrant nightlife as well as its proximity to the beautiful beaches of the Costa Brava and the ski slopes of the Pyrenees, the city of Barcelona and its surroundings offer a fantastic lifestyle with something for everyone.

Barcelona’s appeal is multi-faceted. The World’s Best Cities 2021 report by international firm Resonance, puts the Catalan capital as the eighth best place in which to live, work and invest, coming after only London, New York, Paris, Moscow, Tokyo, Dubai and Singapore. According to the EU-Start-Ups study in 2020, Barcelona was placed as the 5th best city in the world for establishing a start-up and the annual report by fDi Intelligence places Barcelona second – only behind London – for attracting the top companies from the world of tech. Amazon and Facebook both have a major presence in the city.

The health crisis has affected all industries and the Barcelona property market is no exception. In the last year, prices in the city have gone down, but only slightly, by just over 2% and they currently stand at €4,001 per square metre (March 2021). The neighbourhood which incorporates the sought-after el Born district has bucked the downward trend and seen prices rise by 1.2% and they currently stand at €4,856 per square metre (March 2021), clearly demonstrating the appeal of this highly desirable area.
Not surprisingly, the volume of property sales in Barcelona fell during 2020 due to the pandemic and resulting travel restrictions but, as international travel begins to resume, it is expected that there will be strong demand once again for good quality homes in prime areas of the city . New homes in Barcelona are particularly sought-after and el Triangle is one of very few New Development projects currently available in Barcelona’s Old Town.

What is clear is that Barcelona is currently a buyer’s market and canny investors should take note.

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