Note: Due to COVID-19 all bets are off and we will probably see a significant effect on the real estate market, with the most likely and immediate effect being a reduction in prices for properties on the market of around 8-10%. The effect could last around 2 years if the economy shows a steady recovery, and more if there is a catastrophic effect on the local or world economy.
Let’s have a look at some general trends in the real estate market in Barcelona for 2020. This market is very much influenced by foreign investors, so there tends to be more activity and somewhat different prices than surrounding areas that are not much in demand by foreigners.
Rental prices have already reached the top or are already at a level where the potential growth is very low. The prices are far away from the prices of large European cities, but their limit is closely related to salaries (much lower in Barcelona) and these have a limited growth for now.
We still have the problem with Energy Efficiency Certificates not being provided by the owners or showing “in process” perpetually. There needs to be better enforcement from the authorities on this.
While rentals have generally stabilized, the sales market is very active with the highest volume in the last 5 years.
The fastest-selling properties tend to be priced in the €400,000 range.