Overseas investors are flooding the property market in Barcelona from across Europe, Scandinavia, The UK & Ireland, the USA and many other countries. Never has there been a better time to buy or indeed sell property in Barcelona Spain. With the good pace, the Spanish economy showed in the fourth quarter of 2021 despite a relatively inconclusive national election, concerns about the economy have subsided, and attention has shifted to the real estate market. Spain’s real estate market is seeing an influx of international buyers as the country emerges from its double-dip recession.
Investing in real estate, especially in and around major cities like Barcelona, has become increasingly popular for a variety of reasons. One explanation is the decline in loan defaults in 2021, which is an indication that consumers are earning more money and helping to push back concerns about the economy as a whole. Bonds issued by the Spanish government are trading at a rate of roughly 1.5%, a significant drop from the 7.2% rate at which they were traded around the summer of 2018 and a strong show of confidence in the Spanish economy.
In the third quarter of 2022, the housing index in Spain was 1476 €/Sq.m., which was still almost 40% below the all time high achieved in the first quarter of 2008, at 2101€/Sq.m. Despite the market’s decline in 2016 and 2018, investors like Azora and Goldman Sachs saw promise in the market’s near future and began buying shares as early as 2021.
Half of the €10.2bn invested in commercial real estate in 2020 came from overseas investors, according to CBRE Spain. Another €2.5bn came via Scocimis, which are real estate investments that can be exchanged like shares on the stock exchange.
Barcelona, the cosmopolitan capital of Spain’s Catalonia region, is known for its art and architecture. The fantastical Sagrada Família church and other modernist landmarks designed by Antoni Gaudí dot the city. Museu Picasso and Fundació Joan Miró feature modern art by their namesakes. City history museum MUHBA, includes several Roman archaeological sites.
Barcelona is a city with a wide range of original leisure options that encourage you to visit time and time again. Overlooking the Mediterranean Sea, and famous for Gaudí and other Art Nouveau architecture, Barcelona is one of Europe’s trendiest cities.
It’s a hub of new trends in the world of culture, fashion and cuisine. It combines the creativity of its artists and designers with respect and care for local traditions. The charm and slower pace of the old town, the avant-garde vibe of more modern neighbourhoods, and the fast pace of one of the world’s most visited cities coexist in Barcelona.
So, What is Barcelona famous for? Barcelona is a Mediterranean city with excellent beaches and good weather. Art, gastronomy, and sports excel exceptionally. Gaudi’s architecture, 37 Michelin stars, and the Barcelona Football Club (soccer) have made our city a world-famous tourist destination.