Barcelona property: A highly valued brand

Good news for Barcelona property: a new study released this week to Catalan newspaper El Periodico has confirmed Barcelona’s worldwide status as a “quality brand”.

The study – yet to be released publicly – was undertaken by Esade Business School, which last year was ranked as the 4th best business school outside of the US by the highly respected magazine Business Week. El Periodico journalist Xabier Barrena summarized the research findings ahead of the official study launch, expected later in the month.

Esade’s study, titled “Eyes of the World”, involved interviews with 27 journalists from France, UK, Germany, United States, Mexico, Brazil, China, India and Japan. The journalists shared their perspectives of Barcelona as a world city. The findings provide unique insights into perceptions of the city that could impact on how Barcelona properties fare in an international real estate market.

The study highlighted the level of prestige afforded to the city around the world. For Barcelona property buyers, this translates into a solid investment, as the city’s value is sure to remain high given the international clout of the Barcelona brand. The Esade study was commissioned by Observatori Barcelona to update their previous work on the city’s economic potential and assessment of the quality of life for working aged residents.

The authors of the study said respondents had suggested Barcelona was comparable on an “emotional level” to London, Paris, Berlin, New York and Rome. A finding that echoed comments made by Lucas Fox Director, Alex Vaughan: “For the last few years Barcelona has easily held its own with much bigger cities and is now regularly cited in the same sentence as London, Paris and Rome. Factors such as the new airport terminal with direct flights to destinations as diverse as Miami, Moscow, Qatar and Singapore have added to the international appeal. All of this will have a very positive long term effect on the investment potential of Barcelona properties and real estate.”

Interestingly, Esade’s latest study shows perceptions of Barcelona are remarkably common amongst those who live in the same sections of the world. All of the respondents from the United States saw Barcelona in a particular light, while all of those from Asian countries had a slightly different but common view with others from that region. For example:

  • Other European countries see Barcelona as “the most exciting in the Mediterranean” and used words like “live”, “young” and “vibrant” to describe the city
  • Americans rated tourism as the top reason to enjoy Spain, calling Barcelona the “sexy, Spanish extrovert”
  • Brazil and Mexico view the city as an interim host, describing the city as “educated”, “modern” and “interesting”
  • Asian journalists described Barcelona as a “creative city” for “cultural tourism”, and rated the city highly for it’s “hospitality”.

The study’s findings would come as no surprise to Lucas Fox Barcelona property clients. “Many of our clients have the enviable position of being able to live or purchase anywhere in the world but they choose Barcelona for the quality of life the city offers,” explains Director, Alex Vaughan. For Lucas Fox clients, “this comes down to a combination of the Mediterranean climate, the Spanish culture and the gastronomy. Our clients also know Barcelona is a very safe place to live with a real sense of community.”

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