Barcelona property market bounces back08 July
Back in October 2017, Barcelona's thriving property market was stopped in its tracks when Catalonia voted for independence. This divisive referendum and the political uncertainty that followed had a direct and immediate impact on the property market
However, the latest statistics signify that Barcelona has recovered from this dip and brighter times are ahead.
International investor confidence in Spain is growing as a whole. According to the EY Attractiveness Survey, Spain received fourth largest sum of foreign direct investment in Europe last year, a remarkable 32% increase on the previous year.
Spearheaded by Barcelona, Catalonia was one of the driving forces for this change. Indeed, fDi magazine named Catalonia as the best destination in southern Europe for investment in 2018. During this year entrepreneurial activity in Catalonia grew to 8.13%, exceeding both the average for Spain (6.39%) and the European average (8%). The city received more than €870m in investments last year, an incredible 90% increase on 2017’s figure.
Home to MWC Barcelona, the largest conference in the world for the mobile industry, Barcelona has made a name for itself as a major technology hub. It has been predicted that the number of professionals working in Barcelona’s lively [email protected] business district will grow by 25,000 within the next three years. This is exciting news for the property industry as this influx of new talent will increase the demand for high-end properties in the area.
The property industry is already benefiting from this boost in economic activity. In the first quarter of 2019, the National Institute of Statistics reported that new home sales in Barcelona were 12% higher than the same time last year.
With Barcelona’s unwavering entrepreneurial spirit and promising economic growth, it is an exciting time to invest in this beautiful city. Whether you are considering relocating to Barcelona or looking for a property investment opportunity, take a look at our hand-picked selection of new build properties here.