Spanish real-estate market is recovering, although at different speeds. The city of Barcelona is sky-rocketing, making investing in Barcelona a great option.
The data released by the Tinsa IMIE Local Market Statistics show that the average price for housing in Spain has increased 2.7% year on year in the second quarter of 2017. Cataluña and Madrid are growing faster than other regions, having a year on year increase of 11.3% and 9% respectively.
These increases are most significant in Barcelona, currently the most expensive city in Spain.According to TINSA, in just 12 months the Catalan capital has increased the average value of real-estate property by 21.7%, establishing an average price of 3,094€ per m2.
These numbers are a clear indicator of the great opportunity to invest in the Barcelona property market.
Invest in Barcelona: Ciutat Vella at the top
Investing in Barcelona is one of the best selections to create a diversified investment portfolio. It’s the first time that the average price per m2 in Barcelona exceeds the average price in San Sebastian.
The Tinsa statitistics are clear:
- The city of Barcelona has experienced a 7% growth in the last year
- Only between April and June, the average value of property prices in the city of Barcelona has increased 4% compared to the first quarter of the year.
- The city has had a 3% value-growth since hitting rock bottom in Q2 of 2013.
The price increases are significant in every district in the city of Barcelona. Their value growth rose over 11% in the last year, but the district of Ciutat Vella outperforms all the others by far, having price increases of 35.7% in just one year.
These figures place Ciutat Vella as the fastest-growing district among the four big capitals. This is due to a number of reasons:
- It’s an area with massive tourist attraction, with Barrio Gótico and the Raval being two of the greatest influencers.
- There’s an abundance of small flats between 40 and 50 m2 that are attractive to investors.
- There’s a very scarce supply for the growing demand.
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