Prime Real estate in Barcelona continues to Grow
Perfectly positioned between the hills of Montjuïc and the Mediterranean Sea, Barcelona, the capital city of Catalonia, has become one of the world’s most exciting cities and therefore the perfect place to buy a property, as a second home, a long-term rental investment or a permanent residence.
Boasting exceptional quality of life and a great vibe and energy, Barcelona is ideally suited to luxury living. It offers an unmatched beachside and countryside lifestyle that is underscored by vibrant cosmopolitan urbanity.
This Gothic and Modernist jewel on the Mediterranean Sea is an elegant, yet laid-back city with the perfect symbiosis of tradition and modernity. Full of life, beauty and history in every corner, it is brimming with spectacular architecture, art, culture and gastronomy. Add perfect year-round weather and stunning beaches, and it is easy to see the lure of luxury real estate in Barcelona.
The Mediterranean city par excellence is very accessible and well connected internationally, bringing together one of the biggest ports in the Mediterranean, an international airport, highways connected to the European network and AVE high-speed trains.
Investment in Barcelona real estate has been on the rise for years and continues to outpace the rest of Spain. Still, property in the Mediterranean city is amongst the most affordable of large European cities.
However, apart from advantageous real estate prices, what attracts many buyers to Barcelona is the large variety of properties available. Styles vary from carefully refurbished apartments in historic buildings boasting gothic architecture, to modern towers overlooking the Mediterranean Sea and palatial residences on the hills in the western part of the city that boast superb views across the skyline and the sea.
The year 2017 was a significant one for recovery in the Barcelona property market. This was partly because more local buyers re-entered the market, but also due to greater demand from overseas buyers who still dominate the luxury end. British buyers led the way, thanks to the strong pound against the euro over the course of that year. They were joined in lesser numbers by buyers from France, Germany, the Netherlands, Belgium, the Middle East, China and North and South America.
The main reason for foreigners acquiring prime properties in Barcelona is personal use, often as part of relocating to the city. Other buyers are split between holiday homeowners and long-term investors, whilst a small group is purchasing to obtain a Golden Visa.
Attracted by superb quality of life and the property market’s good long-term prospects, unstoppable foreign investors continue to be the key drivers of Barcelona real estate, although they are now joined increasingly by Spanish buyers. All in all, the Barcelona property market looks very promising and positive.