It is prestigious and profitable to own real estate in Barcelona
Investments in real estate in Barcelona are one of the most safe and profitable options for a fund investment.
The average performance of income derived from investing in real estate in Barcelona is 4.2%. Purchasing real estate in the capital of Catalonia is especially interesting for those coming for vacation or business trips. As for the rest of the time, owners rent their properties out short- or long-term. Moreover, the profit from renting real estate out depends on the price of real estate and the period of stay. One can get the highest profit in the summer season, especially by daily rent.
Barcelona does not need any recommendations. It is one of the most beautiful cities in Europe and one of the best places to start a business. It is number 4 in Spain in terms of investments. The growing business activity and dynamically developing tourism sector make the Capital of Catalonia an attractive place for the Spanish themselves who come here from other regions in search for work. The main foreign real estate purchasers come from Russia, China, France, Belgium, Switzerland and the Netherlands. According to El Mundo, the purchaser segment from Russia and the Commonwealth of Independent States is growing much faster than before and starts to monopolize a big share of the market. It is very prestigious to own a house or a flat in this area. Russians mainly purchase premium real estate in Barcelona for a price ranging from 1 to 10 million euros.
In general, the cost of real estate in Barcelona is about 3,500 eur/m2 (according to the data for the first six months of 2013). The price always depends on the district.
The priciest real estate in Barcelona is situated at Passeig de Gracia. The average rate of a square metre of living space here amounts up to 14-15 thousand euros. It is the second most expensive street in Spain after calle Serrano in Madrid.
The most prestigious Barcelona districts are the following:
1. Pedralbes – a district of private villas and luxury multistorey residential complexes situated on hills with unforgettable views of the city and the sea. The price of a square metre of living space can amount up to 6 thousand euros.
2. Les Corts – the centre of economical and business life of the Catalonian capital. It is the business district of Barcelona. Camp Nou stadium where FC Barcelona players exercise is located here. The price of a square metre here is about 4 thousand euros.
3. Sarria Sant Gervasi is an area of modern buildings, big hotels, premium clubs and restaurants. The most prestigious real estate of Barcelona costing 5 thousand euros per square metre and more is situated here.
A square metre of living space in the centre of Barcelona costs about 5 thousand euros depending on the street and the building. Real estate in the centre of Barcelona is the most promising sector in the whole country according to EVCA (European Investor Association).
When deciding whether to invest in real estate in Barcelona it is important to remember that since 2014 the government of Spain will give a residence permit for a purchase if real estate costing 500,000 euros or more.
