Experienced investors continue to seek opportunities in Barcelona and other prime cities in Spain. Contrary to popular beliefs about the economic climate, Spain offers the necessary fundamentals for luxury real estate investment.
Foreign buyers invested 18.8 million Euros in Catalonian property in 2012, accounting for 12.7% of all foreign real estate investment across Spain
Despite the fragility of the Spanish economy – real GDP is expected to fall by 1½ per cent in 2012 and then by a further ¾ per cent in 2013, the unemployment rate will rise above 25% – the luxury property market remains static.
The polarisation of the market continues. Prime and well-established locations in Barcelona like Sitges continue to perform well with highly rise in real estate prices.
International HNWI buyers are acquiring properties in Barcelona, Costa Brava and Ibiza. Scandinavians and Russians replace British international buyers. Foreign buyers invested 18.8 million Euros in Catalonian property in 2012, accounting for 12.7% of all foreign real estate investment across Spain.
Average property prices in most districts of Barcelona continued to fall slightly in 2012, according to some real estate web portals. Barcelona average property sales price at the end of 2012 came in at €3,367 per square metre.
Barcelona Property Average Sales Prices (Average and by District): 2010 – 2012
