Friday, 13 June 2014 10:21

Since the beginning of this year the first signs of a recovery of Barcelona’s real estate market have begun to appear.

After falling 34.9 per cent from their 2007 peak, prices for city residential property fell only 1 per cent in 2013, according to Idealista.com, Spain’s largest property website. In the centre of Barcelona prices rose up, mostly due to commercial property investment.
For many investors the time is ripe to make a bet on the Barcelona real estate market. Especially foreign investors are taking the plunge and the main focus is still the higher end luxury market. Barcelona’s great climate, cosmopolitan life style and international airport make it a wanted city for people around the world to live in. To make sure investors keep coming to Spain, the residency rule, to offer residency to non-EU citizens who spend more than 500,000 Euros in the country, has helped too.
In order for the real estate market to stabilize however, spending power of the average Spaniard is needed, until then prices will not even out.