Barcelona will end the current 2014 year with an investment of 1,600 million euros, made in the real estate sector. For the first nine months of this year, the balance of investments is already more then 1,000 million euros, so this figure is approaching to 1,200 million euros, which was recorded in 2013. These data are contained in the report of “Barcelona, the center of international property investment”, presented by a big consulting firm Aguirre Newman in connection with 25th anniversary of its activities in the Catalan capital. Investing in real estate reach 1,600 million euros in 2014 in Barcelona. The report of Aguirre Newman, moreover, points out that the absence of the right product slows the growth of international investment in the city of Barcelona.
Presidents of Aguirre Newman announced yesterday the results of the study of real estate market of Barcelona, which shows that the trend of growth of foreign investment began in late 2013 and is continuing this year. Operations that were made last year, had an impact on other investors, drawing their attention to profitable investments on unusual for them Spanish and Catalan markets. “This interest continues to grow in 2004, which caused an increase in investment volume of more than 1,000 million euros in Barcelona, of which 58% were the result of the acquisitions made by international investors,” said Santiago Aguirre.
However, despite the increase in the number of closed transactions, experts of the same Company say, that “in Barcelona there is not enough product, which represents a real interest for investors, which, of course, limits the investment activity in the Catalan capital.”
The report also stresses that the price per square meter in different segments of the market are at historic lows, down from the initial value by 50%. This is a competitive advantage for Barcelona – with prices per square meter between 1,700 and 3,000 euros, compared to other European markets, such as 8,000 euros per square meter in Frankfurt and 18,000 euros per m2 in Paris.
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