Barcelona Real Estate Market Report for the First Trimester 2017

Property sales transactions in Barcelona have continued to rise in 2017, with 8,880 sales transactions recorded in the first two months of the year, according to the National Institute of Statistics (INE).

“The Turks see Spain as a safe haven for investment given the current political turmoil in Turkey. Meanwhile, following Brexit, a number of international clients who previously invested in the UK are investing in Spanish city homes in order to diversify their funds. With overall growth predicted in the sector, they are taking advantage of the current low property prices and the prospect of healthy capital gains. Foreigners buying homes in Spain are still in line for good returns, at least in the short to medium term.”

Karen Storms
Head of International Sales, Lucas Fox

Barcelona Property Sales Transactions

Property sales transactions in Barcelona have continued to rise in 2017 with the number of transactions during January and February (for which the latest data is available) totalling 8,880, according to the National Institute of Statistics (INE). This represents an annual growth rate of 23.3% over the same period in 2016.

Lucas Fox data for the first quarter of 2017 shows an even more pronounced increase, with the number of sales transactions up 57.7% and the total value of sales transactions up 61.5%, over the same period in 2016.

Barcelona Property Prices

According to leading property portal Idealista (which bases its figures on asking prices), property prices for all of Barcelona averaged €4,123 per square metre by the end of the first quarter of 2017, up €645 over the average at the end March 2016, showing an annual growth rate of 18.5%.

Continuing recent trends, the more prestigious, luxury districts of Eixample and Zona Alta (Les Corts and Sarrià-Sant Gervasi) ended the year with the highest average prices, at €4,998 and €5,079 per square metre respectively, compared with €4,050 and €4,542 per square metre at the end of March 2016 (showing an increase of 23.4% and 11.8% respectively).

After the Eixample district, the highest annual price increases were seen in Sant Martí (22.4%), Sants-Montjuïc (19.6%), Gràcia (18.2%) and Barcelona Old Town (17.9%). All districts have shown an increase since the end of 2016, with the exception of Nou Barris where prices have decreased slightly (-0.3%).

Barcelona real estate market report 2017

Lucas Fox Barcelona Sales

Lucas Fox Barcelona has had an exceptional first quarter with the total value of sales transactions increasing by 61.5% and the number of sales transactions increasing by 57.7%, over the same period in 2016.

The number of sales to Spanish buyers in the first quarter of 2017 has almost doubled compared to the number of sales in the first quarter of 2016. National buyers made up 29.3% of all buyers in Q1 2017, compared to 26.9% in Q1 2016. The number of sales to UK buyers has increased by more than 230%, with buyers from the United Kingdom making up 24.4% of total buyers in Q1 2017, compared to 11.5% in Q1 2016. The proportion of buyers coming from the United States has decreased from 7.7% in Q1 2016 to 4.9% in Q1 2017.

Barcelona real estate market report 2017

Lucas Fox Barcelona Rentals

Lucas Fox data also shows a large increase in the number of rental transactions in the first quarter of 2017, recording an annual growth rate of 107% over the same period in 2016.

Lucas Fox Website Interest

Almost a third of interest in Barcelona properties on the Lucas Fox website came from Spanish residents in the first quarter of 2017, up from less than a quarter in the same period in 2016. Website visitors from the United Kingdom have decreased from 25.1% to 17.6%, but interest from the United States has remained consistent at almost 10%. European buyers from France and Germany continue to regularly review Barcelona properties on the website.

Barcelona real estate market report 2017

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