Barcelona city home sales increased only slightly last year, but prices kept climbing and foreign buyers reached their highest market share on record.

The latest annual figures show a market that is no longer booming in volume terms, but still under pressure from international demand and limited supply.

Sales growth slows, but stays high by recent standards

There were 15,960 home sales in Barcelona city in 2025, up 1% compared to the previous year. That makes last year the second-best year for sales in the period covered by this data, just behind 2022, when the post-pandemic rebound pushed transactions above 16,000.

So the headline is not one of dramatic growth, but resilience. Despite higher prices, tighter affordability, and plenty of political noise around housing, Barcelona still managed to record almost 16,000 sales.

Local demand was basically flat, with purchases by Spanish buyers up 0.7% to 11,964. Foreign demand increased by 2% to 3,996 sales, enough to push the foreign market share to 25%, the highest in the series and a long way above the 14% to 15% range typical before the pandemic.

In other words, one in every four homes sold in Barcelona last year went to a foreign buyer.

Prices rise faster than sales

The bigger story is prices. The average price of all homes sold rose 6.3% to €4,674/sqm, while the average price of new homes rose 6.1% to €5,320/sqm.

That price growth came despite weak growth in sales, suggesting the market remains supply-constrained. Barcelona does not need a surge in transactions for prices to rise; it only needs enough buyers with sufficient purchasing power chasing a limited number of homes. Foreign buyers help provide that purchasing power, especially in prime and lifestyle-driven segments.

New-home sales fell 10.3% to just 689 transactions, which tells its own story. Barcelona’s new-build market remains tiny for a city of its size, and the lack of new supply helps explain why pressure builds up in the resale market.

Company purchases fall sharply

One notable decline was company purchases, down 14.7% to 2,215.

The sharp fall in company purchases almost certainly reflects the increasingly hostile environment for professional investors in Catalonia, where punitive taxes, interventionist housing legislation, and a political narrative that tends to paint all investors as speculators have made the region less attractive to institutional and corporate buyers.

Whatever the cause, it suggests the market is being driven less by corporate buyers and more by private demand, including foreigners.

What this means

Barcelona’s housing market in 2025 was not a volume boom, but it was still a price-pressure market. Sales barely moved, local demand was flat, company purchases fell, and new supply remained scarce. Yet prices rose by more than 6%, and foreign buyers reached a record share of the market.

That combination will do little to calm the political debate about housing in Barcelona. But for buyers and sellers, the message is more practical: demand remains strong enough to support prices, especially in segments attractive to foreign buyers, while limited new supply continues to do what limited supply tends to do. Push prices up.

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