Let’s strip away the veil on the Barcelona real estate market and the purchase prices of local properties. What are the cost advantages of a rental investment in the Capital of Catalonia? What are the preferred areas for tourism investment? What is the ideal type of accommodation for a rental or tourist investment?
Key Figures on Real Estate Investment in Barcelona
Barcelona is the most profitable city in Spain for a real estate investment with a significant rental demand. According to the Spanish Fotocasa Institute, rents in Barcelona have increased by 8% per year and by more than around 10% in 2016 in several areas of the city center. In addition, purchase prices have been dropping, particularly for old properties, since the economic crisis of 2008.
A second-hand house in Barcelona is now €100,000 cheaper than 10 years ago. The square meter of accommodation averaged €2,950 in 2007 compared to €1,660 in 2017, it means there has been a drop of around 43% in property values. Now is then the right time to invest in high standing real estate in Catalonia, especially in Barcelona. You can ask you real estate agency Barcelona to find your dream property in town.
Investing in Rental Barcelona Real Estate: a Profitable Project
If you invest in rental luxury real estate Barcelona, you can be sure of finding a customer. The city of wonders is an essential tourist destination. As any real estate agency Barcelona would say, the demand is higher in the regions located at the heart of economic activities compared to the peripheral areas of Barcelona. The most popular real estate is located in residential areas close to the large business centers. Areas close to university centers are also preferred by Spanish and foreign students, especially since Barcelona has quality infrastructure for research and graduate studies.
Investing in a House, a Villa or a Flat in Barcelona
It is recommended to choose your Barcelona real estate according to the location targeted by your future tenants (students, vacationers, tourists, etc.), as well as your capital and the profit you expect to benefit from it. Opt for accommodation with two or three bedrooms for a family of four. Also take into account the duration of the rental (days, weeks, years or permanent rental). If you only want to rent your house, your apartment to tourists, invest in a luxury real estate Barcelona in the city center.