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Spotlight on Barcelona

21 March 2017

One of Europe's most rapidly growing markets 

Property in Barcelona offers outstanding value, and with limited supply and rapidly growing demand, prices rose 7.5% last year and are due to rise significantly over the coming years. Rental demand is high with yields from long term lets reaching between 4 - 6%.

This is a big change from two years ago, when Spain started to emerge from 8 years of a falling property market and poor economic performance.

Barcelona is a beautiful historic city with atmospheric tapas bars, wonderful weather and easy access to the mountains and Costa Brava beaches

It’s a small city bordered by the Mediterranean Sea to the south, the Collserola Mountains to the north, and rivers to the east and west

Barcelona is surrounded by towns and there is little land available for new buildings, so most developers are offering refurbishment projects of old buildings across the city. The demand for this type of property far outstrips supply and prices are rising.

Prime Barcelona is the Eixample District for apartments and Pedralbes for villas. Record sales have been recorded in these locations for example 6 million euros for a first floor flat in Paseo de Gracia Avenue, Eixample District and 12 million euros for a villa in Pearson Avenue, Pedralbes District.

Up and coming areas in Barcelona include Poble Sec and Sant Antoni, both central areas with huge character, traditional housing stock, new restaurants and bars opening. It is in these areas where it is still possible to purchase a newly refurbished 2 bedroom apartment from €300,000.