Five reasons to buy property in Barcelona

As someone who works full time helping people from all over the world buy property in Barcelona I get to hear lots of reasons why people choose the Catalan capital for one of the biggest investments in their lives. Here are five of the best reasons Nexitum believe you should consider buying a home in Barcelona today.  

1. A good long-term investment: Both property values and rental prices in Barcelona have increased since 2014, so Barcelona has a proven track record investors can look at. Recently, while the coronavirus initially slowed the market, the Barcelona property market is once again one of the most buoyant in Spain.
2. Strong fundamentals: Just looking at a map you can see that Barcelona is like an island between the hills and the sea with no more land to expand on so the only way for the housing stock to increase is by building upwards, which is never going to happen with the current town plan. Barcelona has a structural shortage of building land that means that property in the city will always be scarce and in-demand, and virtually guaranteed to increase in value over the long-term.
3. A perfect climate: Barcelona is a sparkling modern city on the shores of the Mediterranean with an average of about 2,500 hours of sunshine per year where the sun sets at about 18:30 in December compared to 16:00 in London. Barcelona has almost the perfect climate for enjoying life out-of-doors and making the most of the city’s beachfront and famous traditions.
4. A good moment to buy: Mortgage rates (comparing to the previous 20 years) are extremely competitive, which means that if you fix your rate now, you’ll know exactly how much you’ll be paying for years to come, and will be paying the exact same amount every month. This gives you the ability to clearly plan for the future, and also gives you a sense of security. It’s also true to say that with a mortgage, you often end up paying much less per month than you would if you were to rent the same property and whilst there is an upfront down payment (normally about 20%), it’s not just a home but also an investment.
5. Ownership trumps renting: If you are going to live in Barcelona then owning property in the city is the best way forward for building up your own capital and avoiding the hassle of renting with an annoying landlord/landlady investing the minimum possible and then increasing the rent the following years all the time while you are likely to be paying their mortgage.

Whether you’re a private buyer or an investor, at Nexitum we can help you find you a property in Barcelona that’s a perfect fit for your needs and wishes. Our experience is key to ensuring you make the best purchase. Get in touch by email at jparker@nexitum.com, by telephone on (+34) 934 67 50 00 to get the ball rolling.

Please note that the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice.