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December 28, 2016

More than half of the new properties in Barcelona will be luxurious

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In 2017 in the Catalan capital will be held an intensive construction activity. In addition, a third of new homes and apartments built in Barcelona will be of the luxury sector.

The Spanish real estate market recovers its activity, and this fact is confirmed by the increase of the demand of luxury properties here. Therefore, a third of the 764 new objects to be built in the city of Barcelona in 2017 will be classified as luxurious, according to the real estate advisory firm CBRE, which also details which areas are the most popular in the city for this type of real estate: Eixample (439 sites), Sants-Montjuïc (126) and Sant Martí (100), in addition to predicting a gradual increase in prices.

The director of the CBRE office in Barcelona, ​​Anna Esteban, explained this Monday during the official press conference that the construction of new houses and luxury apartments in Barcelona is not limited to the upper part of the city, but it will also grow in the center of it and in the coastal area including the maritime promenade, which enjoys a great demand in the global real estate market. At the same time, the company's vice president in Spain, Enrique Martinez Laguna, emphasized that the demand for apartments and luxury houses in Barcelona is directly linked to the attraction to the city of the offices of large international companies, which find in Barcelona wide opportunities of development, along with an optimal value for money.

In addition, Ana Esteban argues that in 2017 it is expected that "many of the large multinational corporations will transfer and install part of their activities in Barcelona", but has also clarified that it is very difficult for them to find a large production spaces that they need. Therefore, we can also expect a large-scale implementation of rehabilitation and reconstruction projects of existing production plants in the Catalan capital, in response to current demand, since the free surface for construction is not enough.

Real estate experts in Spain also predict that Barcelona's suburbs will accumulate demand for 7,900 new apartments and homes each year between 2016 and 2025.

In addition, at this time, in Barcelona there are projects of 186,000 square meters of offices to be built in the coming years, although the 100,000 m2 of them have already been allocated to interested customers. The densest construction area of ​​buildings in Barcelona will be the 22 @ district (Poblenou), with 65,000 square meters already occupied in construction, with a project in the initial stage, and with four projects under study, while the current housing stock is almost fully occupied and with prices similar to the city center.

"The 22 @ district is already a new and important area between Diagonal and Paseo de Gracia and it will be the main place for growth and construction of new offices in Barcelona in the next few years," conclude experts from the real estate market in Barcelona.

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