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Spain Real Estate Prices

Real estate in Barcelona, Spain’s capital city of the Catalonia region, is hot and getting hotter. In the past 12 - 15 months prices have increased by 30% and they are showing no signs of slowing down, this article examines the property and general prospects for real estate in the city. For an investor looking at the real estate market in Barcelona there are some very attractive features to consider. Firstly short term rental accommodation is in high demand. There are many colleges, language schools and universities in the city offering a variety of courses all year round which attract high numbers of students all seeking affordable city pads. Furthermore rental accommodation for tourists is in relatively short supply as well and those looking for a self catering alternative to the hotels and hostels seek apartments in and around the city. For the higher end of the market many international and national businesses have headquarters in Barcelona and some take on quality executive apartments that are used by travelling business men and women when they are in Barcelona. The average long term monthly rental income obtainable in Barcelona is currently EUR 675.95 a month with the highest prices obtainable in the Sarria Sant Gervasi area.

With real estate capital appreciation running higher in Barcelona than any other area in Spain, there is an added investment capital attraction to purchasing and holding real estate in the city as well. Over the last ten years real estate prices across Barcelona have increased by an average of 150%, with the exception of 1998 the percentage increases yearly have been in the double digits and though there is sign of a slow down to follow no one can deny the evergreen popularity of this city for property buyers and investors meaning that even if a global slowdown in the real estate market happens, prices in Barcelona will never crash and will actually continue to appreciate - if a little slower than has been observed in the past few years.

In terms of what’s available...well, in Barcelona the majority of accommodation is apartment based with penthouses, studios and flats all highly available. There are also a lot of renovation, regeneration and some new build blocks coming on the market. Prices start from around EUR 250,000 for a simple two bedroom flat and creep into the millions for luxury penthouses in the most desirable city centre or beachside locations. There are of course town houses, villas and mansions for sale in Barcelona as well, though the price of such real estate is steep and usually on application - i.e., if you have to ask you can’t afford it anyway. Buying a property in Spain is much more than a financial decision - it is an investment in your family's future happiness. In addition your property will be a strong and reliable addition to your investment portfolio. According to The Economist, property prices in Spain have risen 149% between 1997 and 2004. Spain is growing in terms of real estate investment and predictions are that sales will continue to increase in the following years. It is expected that over four million people will invest in property in Spain in the upcoming years, and over 600,000 European families will purchase a second home in Spain alone.