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June 22, 2016

Investments in real estate in Barcelona are increasing

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Investments in real estate in Barcelona are increasing

Transactions of buying and selling offices and of the tourism sector lead among types of investments made in the Catalan capital, which last year ended with the figure of 2,000 million euros, representing an increase by 50% compared to 2014, according to real estate companies leaders of Barcelona. Investment funds have participated in most of the operations performed.

Barcelona’s office sector concentrates most of the investments made, with 884.6 million euros, followed by the tourism sector, with operations amounting to 347.5 million euros, representing a significant growth of this industry by 25% compared to 2014.

Despite some restrictions imposed by the municipal government headed by the Mayor Ada Cola regarding the licenses of tourist apartments, the total investment in this important sector of Barcelona has increased compared to previous year. "Our city is one of the main magnets for tourism around the world", highlight the experts of investment market. Currently are still performing necessary works to build or / and obtain appropriate licenses of 51 new accommodation facilities, tourist residences and hostels, which will add about 4,000 beds to the 74,500 that already exist in the Catalan capital.

With regard to residential property, in this case it worth mentioning operations of the purchase of land, after that they registered historic lows in 2013 and 2014, and in 2015 they totaled about 195.7 million euro of investments, which means a growth by 43%. In the report published by experts, a sharp increase in the proportion of transactions for the rehabilitation of buildings and for changing commercial premises into residential ones, is also highlighted.

"Improvements of financing conditions and of global economic environment, the increasing attractiveness of brand of Barcelona, ​​and a comparison with other international housing markets, make our city a very interesting destination for investors, both local and international " stress experts.

But they also warn that "political uncertainty, the high tax burden, the very expensive electricity tariffs as well as the delay in investment in key projects or slow procedures with the council, can become obstacles to improve the attractiveness of Barcelona as a city for investments," indicates the report.

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