The recovery in sales of real estate in Spain has a direct impact on the rental market residential property in major cities, like Barcelona, since there are fewer objects available for rent and, moreover, which are available, are increasing in price. However, demand continues to grow since the beginning of the economic crisis. In this context, experts are increasingly discussing the issue about buying or rent of residential property in Barcelona.
During the past year, the average rental price in Barcelona increased by 6.78%, according to data from the Ministry of Housing and Improvements of Town Planning of the City Council of Barcelona. This figure even rises to double digits, if we consider the real estate market analysis, carried out by large Internet portals, such as Idealista, which indicates the annual growth of 17.5% in the first quarter of 2016, the largest one recorded in the country. It is no wonder then, that Barcelona is the more expensive capital of an autonomous region in Spain for rental of residential property, with a price of 15.2 euros / m2.
Therefore, the importance of rent of housing in Barcelona is obvious. Therefore, the weekly Spanish newspaper La Vanguardia gathered the industry experts to discuss the possibility of buying or renting a house or an apartment in Barcelona. Among the most important factors, professionals especially highlighted the specific stage of life in which the decision is taken, economic vulnerability and geographical mobility of different professionals.
Experts have also presented important data of this sector, such as the rental proportion throughout Spain, which is about 15%, which is almost half of the European average. In addition, experts say that buying a home is the most stable way to have a residential property in times of economic vulnerability, for example, if you become unemployed or suffer any disease, it is the best to have an apartment in property. "Almost 80% of the tenants want to become homeowners," conclude the experts.
At the same time, experts admit that the option of renting a residential property in Barcelona is a good decision provided it meets all needs of the tenant. "Another thing is that you find an apartment or house for rent for 900 euros per month, and another house with similar characteristics, which can be acquired by paying 900 euros a month as a mortgage. So in this case the necessity arises to consider whether or not throw money away."