"The real estate sector in Barcelona is being developed under quite different circumstances than the rest of Spain," said Cesar Oteiza, co-founder of Internet portal Idealista, who also considers evident the fact that the housing market in Spain is gradually recovering and slowly moving towards normalization led mostly by Barcelona. In fact, Barcelona leads almost all ratings on prices, the number of transactions and dynamics of the property market in Spain.
That is why the experts started to consider an important question: Barcelona is showing the way forward for the rest of the country or it is a transient state that could have a high price for the economy of Spain? So exactly that question tried to answer the specialists who participated in the Immofutur forum dedicated to the analysis of the situation of the Spanish real estate market and organized during the professional exposition Barcelona Meeting Point.
In particular, Oteiza, during the opening of the event, explained that after the economic crisis this sector has changed significantly. Rental of property in Barcelona has considerably increased its popularity. There even appeared a so-called "immediate rent of apartment" that is the properties that have been available on the market very little time and were even rented during a few hours. In Barcelona, for example, some of the real estate objects found their new tenants in less than 48 hours.
"In Barcelona, the housing sector has an important component of style, fashion and dynamism, which cannot offer other areas of the country," commented the co-founder of portal Idealista. It is one of the reasons why rental prices have already reached very high figures, attaining 18% in recent years. This development also motivates investors, large and small, as well as different financial funds, to venture and to buy property in Spain. It should also be taken into account that the profitability of these assets in the Catalan capital can reach up to 6% -7%.
Moreover, other experts in the real estate market in Barcelona, as for example, Juan Fernandez-Aceytuno, the CEO of the valuation company ST, adds that "rate of return of apartments in Barcelona for rent for short and medium term is valued in almost 10 %. Therefore the purchase or rent prices will follow to grow, especially in the capital of Catalonia”, concluded the expert.