Barcelona Market Update
THE PROPERTY PRICES IN BARCELONA CAPITAL
The property prices in the city of Barcelona experienced a year-on-year decrease of 1% in the third quarter of 2019, to 3.349 euros / m². Since the maximum values reached in 2007, the value of apartments in the city has depreciated 24.6%.
The residential market has evolved in negative in what we have of 2019. The price in the third quarter of 2019 is 0.9% lower than the one registered in the same period of the previous year.
PRICES
SALES
Barcelona EL MARESME · BETWEEN MALGRAT DE MAR AND MONTGRAT
Municipalities including Malgrat de Mar, Santa Susanna, Pineda de Mar, Calella, Sant Pol de Mar, Canet de Mar, Arenys de Mar, Caldes d'Estrac, Sant Vicenç de Montalt, Sant Andreu de Llavaneres, Mataró, Cabrera de Mar, Vilassar de Mar, Premià de Mar, Masnou, El Montgat
General situation
In clear recovery. The situation compared to last year is improving significantly.
Prices Prices have risen in the last twelve months with increases of more than 5%. The closest places to Barcelona have experienced a clear rise in both prices and volume of construction, but more in first residence than holiday homes. To the North of Mataró, a significant increase in prices and volume of holiday homes construcion. The upward trend in prices is higher than in the previous year and is expected to continue this way without substantially varying
Average price for holiday homes on the beachfront in the most expensive area
· Multi-family house between about € 3,000 / m². They are located in Caldes D’Estrac, Sant Vicenç de Montalt, Llavaners and Sant Pol de Mar.
· Single Family House Around € 11,600 / m² (maximum values)
Stock
There is a stock of new built that can be assumed in the short term (the offer has decreased during the last year). Mataró is the town that is mainly developing the new built housing initiative in the area, being a larger municipality in area and number of inhabitants. The most demanded is a two or three bedroom apartment, close to the beach, perhaps in the second line, since it lowers substantially the value, average qualities and around € 2,500 / m².
The rental and purchase markets are balanced. On the rental market clearly Mataró stands out, but as a first residence, followed by Masnou and Sant Andreu de LLavaneres (in which first and second residence coexist). The typology most in demand are two or three bedroom apartments near the beach. Rental prices remain stable
Activity
The second-hand market predominates. Several developments have begun construction in Sant Andreu de LLavaneres (one hundred and forty homes), but the town with more activity above all is Mataró (three hundred homes) although more oriented to first residence. Also in the town of Pineda (fifty homes) and Masnou (two hundred homes).
Land market
The land market begins to recover. There are many sectors pending development and sufficient land in the region for more than two years. There is more shortage of finalist land than pending development. There have been increases in land prices in the municipalities south of Mataró and Mataró in recent months, basically due to proximity to the capital (Barcelona).
Demand
The sale of new built and used properties for holiday homes has grown by around 10% and the current sales terms for new construction have improved somewhat compared to the previous year. The nationality of the buyer is mostly Spanish, from Barcelona capital and metropolitan area. Foreigners are mostly German and Russians. Rental prices remain stable
BETWEEN BADALONA AND GAVÁ MAR
Municipalities that include Badalona, Sant Adrià de Besòs, Barcelona, El Prat de Llobregat, Viladecans and Gavà.
General situation
In clear recovery. The upward trend continues, they are mainly areas of first residence, but both in this and in the holiday season the same trend is observed.
Prices
In clear ascent, with increases higher than 5%. Prices remain in line with what was experienced last year and the upward trend is expected to continue
Average price for holiday homes on the beachfront in the most expensive area:
· Multi-family between 4,000 and 6,000 € / m². Average € 5,500 / m². In Gavá Mar, with an average area of 100 to 115 m², very high qualities, three and four bedrooms and its new or pre-owned condition.
· Single family between 6,000 and 8,000 € / m². Average € 7,000 / m². In Gavá Mar, with an average area of 250 to 350 m², very high qualities, three and four bedrooms, new or pre-owned.
Land market
The market begins to recover a regular activity. In Barcelona the shortage of land is notorious and in the rest of the municipalities the finalist land is destined for first residence housing. The value of the land has increased in all areas as a result of the average cost of housing. In Barcelona, the modification of the General Plan has been approved, which requires 30% of the new built to be allocated to social homes..
Demand
In general terms, the path of increase in transactions has continued. The role of the national buyer with respect to the foreigner has increased.
Source TINSA
