Each half-year, Lucas Fox International Properties releases a compilation of data to summarize the local property market conditions in its three principal locations: Barcelona, Costa Brava and Ibiza. With the launch of a new design and more comprehensive analysis for the market report formats, Lucas Fox Directors have shared their analysis of the markets they are working in day by day, month by month.
Barcelona real estate may be a slightly more reliable market to analyze and second-guess than the at-times volatile national housing market has been over the past few years. Meanwhile, the prices of Costa Brava villas and the continuing demand in Ibiza real estate show that there are some signs of a steadying trend – particularly at the luxury end of the market – making it possible to forecast the next six months without too much out of a leap of faith. All the same, there are distinctly different perspectives amongst analysts as to the state of the local housing markets, and the Directors were well aware there are bound to be alternative (and vocal) opinions.
Some analysts have suggested that there is still some bottoming of the market to occur, while others are enthusiastically looking for bargain-priced properties.
Given these differences in interpreting the housing markets, the Directors wanted to offer their clients and regular readers a firmer sense of what is happening locally, so that investors and sellers can make more objective decisions.
“We predict that for the immediate future buyers will be able to secure Barcelona properties at competitive prices”, affirms Alex Vaughan, Director of Lucas Fox. However, he also tempers his confidence with a recognition that the market is changing in the way people are buying properties, and the investment cycles necessary to hold on to quality luxury property in Barcelona: “. Given the current economic conditions and lack of finance available to local buyers, international clients should be willing to hold on to their properties for longer as it will be several years before the next growth cycle.”