Amat Immobiliaris, one of Barcelona’s longest-established real estate agents (in business since 1948) has published its property market report for Barcelona and surrounding areas for 2016. You can read the full report using the link at the bottom of the page, but here are some of the main observations.
The report, written by international director Guifré Homedes Amat, starts by noting 2016 was a good year for sales, but wonders whether the same rate of growth can be kept up this year.
2016 was an “extraordinary year from the point of view of sales, which have been much more than the previous year, and much higher than the rhythms we had foreseen,” writes Guifré. “That is, what has happened in 2016 concerns us, as it raises many questions: Are these terms of sale sustainable? Will they generate expectations of price increases out of the market? Who will buy the coming projects?”
The rental market was also buoyant in 2016. “It has been a year of fewer contracts, at significantly higher prices, and where homes are rented in less than a day,” explains Guifré. “And that also generates concern and questions: Where is the limit? How will we generate more stock quickly to relax prices? Will the problem of late payment increase? In short, we entered 2017 with many questions.”
Home sales in the Barcelona area
- Home sales handled by Amat in Barcelona, Sant Cugat, and Sant Just were up 94% year-on-year in 2016
- Foreign buyers were 60% of sales in Barcelona city for Amat, and 60% of foreign sales involved a budget of over €1m
- The biggest group of foreign buyers in Barcelona came from Africa (44% of buyers)
- The average time it took to sell a property fell to 4 – 5 months in 2016, down from 6 months in 2015, and 11 months in 2013
- The average resale price in Barcelona last year was 4,800 €/sqm built ranging from 2,000 €/sqm in Horta-Guinardó to 9,400 €/sqm in Diagonal Mar.
- Luxury home sales increased on the back of high-end international demand focused on areas like Diagonal Mar, the Eixample, and parts of the Ciutat Vella.
- Domestic demand for luxury property in Barcelona is also coming back to life, mainly in the Zona Alta.
So the real estate agency with the longest track record in Barcelona of the market is enjoying the good times but worried about things getting too out of hand.
So on balance Amat report positive results last year reflecting growing demand for prime Barcelona and its surroundings, but question whether the market can continue growing at the same rate in 2017.
You can read the full report (pdf in English) clicking the button below.Amat Barcelona Real Estate Market Report 2016 (pdf)