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September 12, 2016

Two-thirds of new housing of Catalonia is located in Barcelona

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Two-thirds of new housing of Catalonia is located in Barcelona

According to the Council of Catalonia, Barcelona and its metropolitan area (AMB) received 64% of the permits for construction of new real state in all autonomy over last year. This means that two of the three licenses for the construction of houses and apartments in Catalonia were granted to municipalities located around Barcelona, ​​which is the highest rate since the start of the crisis in Spain. Before the crisis, this figure was equal to 37%.

In particular, of the total amount of 6,167 new permits for housing construction, Barcelona and its suburbs gathered about 4,000, the best figure in the last four years. However, current figures are still far from those recorded during the boom in the real estate market in Spain. In the first quarter of 2007, Barcelona received more construction permits than throughout all 2015 (more than 1,400 exactly).

Thus, between 2007 and 2015 the number of permits for construction of new properties in Catalonia has declined by 89%, although there are areas where the decline was even more significant. The Valley of Aran, for example, reduced its number from 2,707 to 132 permits (-95.1%), while the region of Girona – from 17,707 to 670 (-96.2%). Even the average of all autonomous region was worse than recorded in Barcelona: the number of permits has been reduced by 94%, from 107,834 permits issued in 2007 to 6,176 last year.

Official statistics also show that, for the first time in the last ten years, the five municipalities that received the largest number of new permits for real estate construction in Catalonia are situated in the metropolitan area of ​​Barcelona. That are Barcelona, ​​Badalona, ​​Sant Cugat, Terrassa and Hospitalet.

Moreover, the experts note that the dynamism that shows the metropolitan area of ​​Barcelona and a decrease in demand for a second home near the sea in Spain, are the factors that explain the territorial changes that occur in the issuance of new permits for the construction of residential property in Catalonia.

Because of these factors, the demand for new homes in Barcelona will reach 8,000 units per year, according to estimations of the Spanish property market professionals.

The recovery of the real estate sector in Catalonia, however, occurs at different rates depending on demand and location. In Barcelona, ​​for example, it is expected to be increasing by 7,900 objects construction of new houses and apartments per year until 2025, according to forecasts of the major Spanish real estate agencies. In addition, prices also will increase due to the lack of land available for construction of new residential property.

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