27 Dec The Most Sought-After Properties by Foreign Buyers in Barcelona: What Are They Looking For?
In recent years, Spain has attracted the attention of foreign buyers who are looking not only for a business opportunity but also for a place to enjoy the Mediterranean lifestyle.
According to data from the General Council of Notaries, in the first half of 2024, purchases made in Spain by non-nationals accounted for 20.4% of the total, of which 58.2% were executed by residents, and Barcelona is among the main areas of interest, competing with cities like Madrid and coastal destinations.
Real estate properties in Spain have become the focus of those looking to diversify their investments, acquire a first or second home, or simply enjoy the good weather and quality of life the country offers. At Barcelona Flat Hunter, we explain what foreign buyers are looking for in the Catalan capital.
Barcelona has established itself as one of the most attractive destinations for foreign buyers in the Spanish real estate market.
The city stands out for its pleasant climate, vibrant cultural scene, and privileged location on the Mediterranean, factors that make it a magnet for property purchases. Additionally, Barcelona’s excellent international connectivity, both through its airport and its railway and road connections, makes it a preferred option for those seeking an investment or a second home in a cosmopolitan city.
The rise of Barcelona as a destination to live, study, or work, whether for a few months, years, or a lifetime, has a direct impact on the real estate sector.
In the first quarter of 2024, according to data published by Habitatge(1), out of a total of 3,973 home purchases in Barcelona, 962 were made by foreign buyers, an increase of 17.5% compared to the same period in 2023. Foreign buyers represent approximately 24% of the market.
10% only purchase newly built property, a percentage similar to the one of Spanish buyers, and most favor more widely available secondhand properties.
When it comes to location, the top four districts favored by foreign buyers are: Eixample district, and within said district especially Dreta de l’eixample and Antigua Esquerra, Ciutat Vella, Sant Marti and Gracia.
The least favored areas are Nou Barris, Sant Andreu, Horta-Guinardo and Les Corts.
Regarding the profile of foreign buyers in Barcelona, the majority come from countries such as the United Kingdom, Germany, and France. These buyers typically opt for properties with specific features, such as spacious outdoor areas, pleasant views, and proximity to essential services. Barcelona, with its offering of homes in well-connected areas with all kinds of amenities, is ideal for this type of buyer. While coastal areas remain popular, the Catalan capital continues to maintain strong appeal due to its international character and development potential.
With the recent changes to the “Golden Visa” program, there is speculation about whether ending the visa, that allows foreign buyers to obtain residency by purchasing a property worth at least €500,000 without a loan, will affect property prices. We believe that it won’t, even in Barcelona. The issuance of visas for property purchases in Spain has never significantly influenced prices, as only a tiny 0.1% of property transactions in Spain from 2013 to 2022 included the granting of a residence visa.
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