The shortage of land in Barcelona will provoke a rise in property prices

The shortage of land in Barcelona will provoke a rise in property prices

The experts of the international consulting company CBRE say that due to the acute shortage of housing in the Catalan capital prices of flats and houses will rise by 10% during the year. Prices in Catalonia will increase by an average of 7%.

Currently, developers in Barcelona are focused on redeveloping of existing buildings. For example, the redevelopment of the former offices into residential buildings. In many cases these works are financed by large investment funds.


Paradoxically, but in connection with prices rise, investments in residential real estate has become more lucrative than investing in commercial premises. Only in the Old city there are 5 such projects. In L'Eixample will be fully refurbished 12 non-residential premises, and in Gracia – 8.


New residential complexes that are under implementation are located in the Eixample and Poblenou. A key factor in both areas is the high demand from foreign buyers.

In this regard, CBRE recommends to the government to make efforts in order to increase the land offer for development in Barcelona, and also to assist redeveloping projects to avoid the unnatural growth of property prices in the Catalan capital.

Based on the materials of spanishpropertyinsight.com

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