Authored by the expert who managed and guided the team behind the Spain Property Pack
Yes, the analysis of Barcelona's property market is included in our pack
What will happen in Barcelona’s real estate market? Will prices go up or down? Is Barcelona still a hotspot for foreign investors? How is Spain’s government impacting real estate policies and taxes in 2025?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with notaries, real estate agents, and clients who buy properties in Barcelona, we’ve gained firsthand insights.
That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market predictions and forecasts.
Our goal is simple: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.
How this content was created 🔎📝
1) Rental yields in central Barcelona will fall as property prices rise faster than rents
In recent years, property prices in central Barcelona have been on the rise, with increases of about 3% to 5% annually. This growth is fueled by demand from both local and international buyers, making areas like Ciutat Vella and Eixample particularly expensive, with prices reaching up to €7,000 per square meter.
On the other hand, rental prices have not kept pace with this growth. In 2024, the average rent in Barcelona was €1,133, reflecting a slight year-on-year decline. The cost per square meter for rentals also decreased by 1.18% compared to 2023. This slower growth in rental prices compared to property prices is a key factor in the declining rental yields.
Historically, rental yields in Barcelona have been decreasing, stabilizing around 3.5% to 4% in 2025, down from 4.5% in 2020. This trend shows that rental income is not keeping up with the rising property prices. Additionally, rent controls have moderated rental price increases but have also created a gap between property price increases and rental growth.
Sources: Spanish Property Insight, Spanish Property Insight
2) Property values in Eixample will rise significantly because of its central location and attractive architecture
The Eixample district in Barcelona is poised for a notable increase in property values, largely due to its central location and architectural appeal. In 2023, the average price per square meter in Eixample was €5,097, marking a 4.3% increase from the previous year. By October 2024, this figure rose to €5,118, representing an 8.92% increase from December 2023.
One of the key reasons for this trend is the high demand for housing in urban areas like Eixample. Despite a slight decrease in sales transactions in 2023, the district remains one of the most sought-after in Barcelona. Its central location and unique architectural style, characterized by modernist and contemporary designs, make it a desirable place for both residents and tourists.
Moreover, the ongoing shortage of new housing developments, coupled with sustained demand, is expected to drive up prices further. Eixample's appeal as a cultural and financial hub continues to attract international buyers and expatriates, contributing to the district's growing popularity. Additionally, government investments in infrastructure and urban development plans focusing on Eixample are enhancing its attractiveness, likely leading to increased property values.
Sources: BCN Advisors, BCN Advisors, CaixaBank Research, Indomio
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Spain. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
3) Property values in Sant Martí will surge as urban regeneration projects boost its attractiveness
Sant Martí is on the brink of a property value surge thanks to ongoing urban regeneration projects.
Since 2015, the Barcelona City Council has poured 244 million euros into Sant Martí, creating around 2,000 new apartments. This hefty investment is part of a grand plan to boost the area's charm and infrastructure.
Even in 2023, when property sales dipped across Barcelona, Sant Martí held its ground with just an 11.3% drop in sales transactions compared to the previous year. This stability is impressive, especially alongside a 5.5% rise in property prices, hitting an average of €3,804 per square meter by year-end.
The district is drawing in younger professionals and families, thanks to varied housing options and community projects like La Balma and Abril Poblenou. These demographic changes, along with media buzz about Sant Martí as a rising star, highlight its transformation.
Local media have been spotlighting Sant Martí as a neighborhood on the rise, which only adds to the district's allure and potential for property value growth.
With these factors in play, Sant Martí is becoming a hot spot for those looking to invest in Barcelona's real estate market.
Sources: BCN Advisors, Habitatge Barcelona, Barcelona.cat
4) Barcelona rents will keep rising because demand is higher than supply
In 2023 and 2024, Barcelona saw a significant rise in rental prices, with the average monthly rent reaching a record high of €1,193.41 in early 2024. This marked a 9.8% increase from 2023 and a 1.3% increase from the last quarter of 2023. Over the past five years, rental prices have surged by 21.5%, indicating a persistent upward trend.
The growing population and urbanization in Barcelona have fueled high demand for housing, a trend expected to persist. This demand is compounded by a shortage of new housing developments, which is likely to continue into 2025, further driving up prices.
High occupancy rates in existing rental properties underscore the strong demand for housing. Reports from the Catalan Land Institute and the Generalitat highlight significant rental price increases, attributing them to the imbalance between supply and demand.
Sources: Catalan News, YIP Institute, EOMobility
5) Non-EU buyers will seek stable investments, boosting demand in the European market
In recent years, particularly in 2023 and 2024, the European market has shown remarkable stability, making it an attractive destination for non-EU investors. Non-financial corporations in the EU have been net lenders, indicating a stable investment environment that is expected to continue. This resilience, even amidst global economic fluctuations, highlights the EU's appeal as a safe investment haven.
Moreover, global search trends have revealed a significant interest from non-EU buyers in European markets, especially in countries like Spain and Portugal. For instance, there were over 279,000 searches for buying property in Spain alone during 2023-2024. This surge in interest is partly driven by political or economic instability in non-EU countries, prompting investors to seek more stable options abroad.
Favorable exchange rates have also played a crucial role in attracting non-EU investors to Europe. Currencies like the Norwegian Krone and the Swedish Krona have maintained stable rates against the Euro, making European real estate more accessible and appealing to non-EU buyers. Additionally, government incentives, such as non-resident tax benefits in Spain, further enhance the attractiveness of investing in European real estate.
Media coverage has consistently highlighted Barcelona as a prime investment location, drawing attention to its cultural and economic stability, as well as its thriving tourism industry. This positive portrayal in the media has undoubtedly contributed to the growing interest from non-EU buyers. Surveys and anecdotal evidence from real estate professionals also support this trend, with many reporting increased inquiries from international clients seeking properties in stable European markets.
Sources: Eurostat, Federal Reserve, AgentFire, LaSalle, Euronews
Make a profitable investment in Barcelona
Better information leads to better decisions. Save time and money. Download our guide.
6) Interest in Barcelona's real estate will move towards sustainable and eco-friendly projects
Barcelona is leading the charge in sustainable real estate, attracting international buyers interested in eco-friendly living.
In recent years, there's been a noticeable shift in the global real estate market towards sustainability. This trend is driven by a growing concern for the environment, with a 2023 PwC report revealing that over two-thirds of respondents are worried about meeting environmental and decarbonization goals by 2025. As a result, the demand for sustainable housing is on the rise.
Barcelona stands out with its impressive eco-friendly developments. Take the Porta Firal Auditori, for instance, which uses 70% less energy and emits 75% fewer emissions than similar buildings. Another example is the Baró de Viver Civic Centre, the city's first LEED Platinum-certified social facility, which consumes 48% less energy and generates 16% of its energy needs through solar panels.
International buyers are increasingly drawn to the idea of sustainable living, boosting the demand for eco-friendly properties in Barcelona. This interest is supported by the availability of green financing options, which make sustainable real estate more accessible and affordable. Additionally, European Union regulations on sustainable construction have significantly influenced the development of green buildings in the city.
Barcelona's commitment to sustainability is not just about meeting regulations; it's about creating a lifestyle that appeals to environmentally conscious buyers. The city's innovative approach to eco-friendly architecture and urban planning is setting a new standard for real estate development. As more people become aware of the benefits of sustainable living, Barcelona's real estate market is poised to attract even more foreign interest.
With its blend of modern design and environmental responsibility, Barcelona is becoming a top choice for those looking to invest in sustainable properties. The city's focus on reducing energy consumption and emissions is not only good for the planet but also makes it an attractive option for buyers seeking long-term value. As the demand for eco-friendly homes continues to grow, Barcelona is well-positioned to lead the way in sustainable real estate.
Sources: PwC, Coffee and Caminos
7) Rental yields in tourist areas will drop because of stricter short-term rental rules
Barcelona is tightening its grip on short-term rentals, especially in 2023 and 2024.
These new rules are part of a bigger plan to manage tourism's impact on locals. Property owners in popular tourist spots are feeling the heat as they navigate these changes.
One big reason for the expected drop in rental yields is the stepped-up enforcement of these regulations. Inspectors in Barcelona are actively hunting down illegal short-term rentals on online platforms, leading to a significant number of properties being removed from the market.
The city is pushing to become an Airbnb-free zone by not issuing new licenses and revoking existing ones. This means fewer chances for property owners to make money from short-term rentals, nudging many towards long-term rental options.
On top of that, property owners are dealing with higher costs to meet the new rules, making short-term rentals less attractive. Many are now eyeing medium-term rentals, which offer a more stable income without as much red tape. Media reports highlight the financial and legal hurdles property owners face under these new regulations.
Sources: Short Term Rentalz, Airbtics, BNB Calc, Rental Scale-Up
8) Barcelona’s property prices will keep rising because demand is high and supply is low
Barcelona's residential property prices have been on the rise, and this trend is expected to continue due to a combination of limited supply and high demand. In 2023, the average property price in Barcelona was €4,167 per square meter, marking a 2.6% increase from the previous year. By the end of Q3 2024, this average price had risen to €4,561 per square meter, reflecting a significant 9.8% increase compared to the same period in 2023.
One of the key reasons for this price increase is the limited availability of land for new developments within the city. While there are over 500 new development projects in the province of Barcelona, many are located in the metropolitan area rather than the city itself. This scarcity of new construction opportunities within the city has driven up prices, with new constructions reaching up to €7,000 per square meter.
Additionally, Barcelona's cultural and lifestyle appeal continues to attract both local and international buyers. The city's popularity as a tourist and expatriate destination, combined with favorable mortgage conditions, has fueled demand. Reports of bidding wars and properties selling above asking prices further highlight the strong buyer interest and limited supply in the market.
Sources: BCN Advisors, New Building Spain, BCN Advisors, Lucas Fox
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Spain versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
9) Property prices in Les Corts will stay stable because it's a well-established area with few new developments
Les Corts is known for its established residential nature, which plays a big role in keeping property prices stable. In 2023, property prices in Les Corts saw a modest increase of 1.3%, ending the year at an average of €4,999 per square meter. This slight rise indicates a stable market compared to other districts like Gracia and Sant Martí, which experienced higher increases.
One of the main reasons for this stability is the limited availability of land for new developments. In 2024, there was significant competition for constructing just 70 new homes in Colonia Castells, a part of Les Corts. This highlights the scarcity of land and the challenges of renovating existing areas, which naturally limits new construction.
Additionally, zoning regulations in Barcelona, including Les Corts, are designed to preserve the area's residential character and historical context. These regulations restrict new construction, further contributing to the stability of property prices. The demographic trends in Les Corts, with a stable or aging population, also support this stability, as there is less pressure from younger demographics seeking new housing options.
Sources: BCN Advisors, Straddle3, BCN Advisors, BCN Advisors, BCN Flat Management
10) Property prices in Poblenou will rise as it becomes a hotspot for tech professionals near innovation hubs
Neighborhoods like Poblenou are becoming hotspots for tech professionals in Barcelona.
Thanks to significant investment in tech infrastructure, Barcelona and Catalonia have seen a boom in technology hubs, with most of them based in the city. These hubs are not just tech playgrounds; they are economic powerhouses with a turnover exceeding 1.4 billion euros annually.
The 22@ San Martí-Poblenou district is a magnet for tech companies and startups. Its closeness to the 22@ innovation district makes it a prime spot for tech professionals who want to live near work, cutting down on commute time and boosting productivity.
The Catalan government is rolling out the red carpet for tech talent and projects, offering incentives that have led to a rise in coworking spaces and tech incubators in Poblenou. This has created a supportive ecosystem for startups and tech professionals.
With more tech professionals moving in, the demand for homes in Poblenou is rising, pushing property prices up. The media often highlights Poblenou as a key tech hub, which only adds to its allure for tech professionals and investors.
Urban development projects and better public transport links to tech hubs are making Poblenou even more attractive. It's no wonder that property prices are climbing as the area becomes a sought-after location for those in the tech industry.
Sources: Catalonia.com, Mobile World Capital
11) Property prices in Gràcia will rise as more young families move in and the area becomes family-friendly
Gràcia is drawing in more young families thanks to its vibrant community and family-friendly vibe.
In 2023, the area saw a 33.27% jump in property sales and a 4.71% increase in property prices, showing that more families are eager to settle here. This trend is a clear sign that Gràcia is becoming a hotspot for those looking for spacious family homes.
One of the big draws for families is the neighborhood's educational offerings. Gràcia is home to Barcelona's top international school, making it a prime choice for parents who want the best for their kids. The rise in school and kindergarten enrollments is proof that families are flocking to the area for its quality education.
Gràcia isn't just about schools; it's also about lifestyle. The neighborhood has been busy developing family-oriented amenities like parks, playgrounds, and sports centers. These facilities are perfect for young families looking for a balanced lifestyle with plenty of activities for their children.
The Catalan government is also playing a part by promoting sustainable housing in Gràcia. These initiatives not only make the area more appealing but also hint at a potential rise in property values as eco-friendly living becomes more desirable.
With all these factors combined, Gràcia is set to become even more attractive to young families, which will likely lead to a continued rise in property prices as the area becomes more family-friendly.
Sources: Barcelona Metropolitan, BCN Advisors, Career Gappers, Barcelona Expat Life
Get fresh and reliable information about the market in Barcelona
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
12) Demand for rentals near universities will grow as more international students arrive
In the past few years, we've seen a significant increase in the number of international students coming to Spain. In the 2022/2023 academic year alone, Spain welcomed a record 241,777 international students. This trend has been particularly noticeable in Barcelona, where the University of Barcelona attracts students from over 100 countries, with more than 10,000 international students enrolled.
As more international students arrive, the demand for student accommodation has risen sharply. This is partly because many international students prefer off-campus housing, such as shared apartments, which are often more economical and offer a more vibrant living environment. Companies like COTOWN and Livensa Living have become popular choices, offering student housing with discounts for students.
Moreover, the limited availability of on-campus housing, combined with relatively high prices, has further driven the need for off-campus housing solutions. This scarcity highlights the growing demand in the rental market, especially for properties near universities. Real estate agents in Barcelona have likely reported heightened interest in these areas, as international students seek convenient and affordable housing options.
Sources: Studies in Spain, University Living, IBEI
13) Buyers will prioritize energy-efficient homes as sustainability becomes crucial in property decisions
In 2023 and 2024, the property market saw a big shift towards sustainability.
Take Barcelona, for example. Homebuyers there are now on the lookout for energy-efficient features like solar panels and green roofs. This change is largely due to a growing awareness of climate change and the fact that buildings contribute to 40% of carbon emissions in the EU.
Government incentives have been a game-changer. Thanks to the European Next Generation funds, up to 85% of building renovations for energy efficiency can be subsidized. Plus, new regulations are making it mandatory for new buildings to meet stricter energy efficiency standards, which is pushing the demand for sustainable homes even further.
People's preferences are changing too. Surveys show that there's a strong desire for homes with efficient insulation and smart technology. The media is buzzing about sustainable living, and Spanish banks are now offering green mortgages with reduced rates for energy-efficient homes, making it even more appealing.
Sources: Iberia Living, Habitatge Barcelona, Empresa Clima, Rentastic, Think Spain
14) Older property values will drop as stricter energy efficiency rules raise costs
In 2023 and 2024, stricter energy efficiency regulations began to significantly impact the cost of older properties in Barcelona. These regulations require property owners to obtain an Energy Efficiency Certificate, which can be costly and is mandatory for selling or renting homes. Non-compliance with these regulations can result in fines ranging from 300 to 600 euros, adding to the financial burden on property owners.
Moreover, a large portion of Barcelona's housing stock, approximately 90%, was built before the implementation of energy regulations, meaning many properties require substantial upgrades to meet current standards. The cost of these renovations can be high, even with available subsidies, as 81% of properties would initially receive a low energy rating of E or lower. This necessitates significant investment to improve energy efficiency, which can be a financial strain for property owners.
Additionally, the increasing demand for energy-efficient homes has shifted buyer preferences, making properties with poor energy ratings less desirable. This shift in market demand can lead to a decrease in the market value of non-compliant properties, as buyers prioritize homes that are more energy-efficient and environmentally friendly. As a result, older properties that do not meet the new standards may see a decline in their market appeal and value.
Sources: Habitatge Barcelona, Equinox UH, Revolve Media
We have made this infographic to give you a quick and clear snapshot of the property market in Spain. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
15) Demand for modern, tech-enabled apartments in Barcelona will grow as more young professionals move in
In recent years, Barcelona has become a magnet for young professionals, largely due to its booming tech industry and vibrant startup scene. The tech sector in Spain saw a growth rate of 5.8% in 2024, with Barcelona leading the charge by creating 26,000 jobs and generating €2.5 billion annually. This growth is particularly appealing to young professionals seeking opportunities in fintech, cybersecurity, and e-commerce.
The introduction of the Digital Nomad Visa in 2023 has also played a significant role in attracting remote workers to Barcelona. This visa, which requires a minimum monthly income of €2,400, allows digital nomads to live in the city for up to five years. As a result, Barcelona has become a desirable destination for those who can work from anywhere, further increasing the demand for modern, tech-enabled apartments.
Moreover, the lifestyle preferences of Millennials and Gen Z align well with Barcelona's urban environment. These generations are drawn to the city's modern flats, which are equipped with the latest automation technologies. The integration of IoT in homes, featuring energy-efficient appliances and smart climate control systems, caters to their desire for convenience and connectivity.
Sources: Catalan News, Nucamp, BCN Flat Management
16) Demand for home offices will grow as remote work becomes more popular, influencing new property designs and layouts
In recent years, particularly in 2023 and 2024, we've seen a significant rise in remote work adoption in Barcelona. Nearly 60% of the workforce in Spain, including Barcelona, engages in remote work at least part-time. This trend is expected to continue, influencing the way people live and work.
The home office furniture market in Spain has also experienced notable growth, with revenue reaching $498.70 million in 2024. This steady increase in demand for home office furniture indicates that more people are setting up dedicated workspaces at home.
Consumer preferences have shifted, with homebuyers in Barcelona increasingly seeking properties with dedicated office spaces. This change is driving the demand for homes with adaptable layouts that can accommodate the needs of a remote work lifestyle.
Architectural trends are also evolving, with properties featuring flexible and multifunctional room designs becoming more attractive. These designs support both work and leisure activities, reflecting the changing needs of modern living.
Real estate listings in Barcelona now emphasize home office features, highlighting the importance of dedicated office spaces. This shift in marketing strategy underscores the growing demand for homes that can serve as both residences and offices.
Additionally, the demand for high-speed internet and tech-friendly homes is on the rise, driven by the need for reliable connectivity to support remote work. This is a critical component of modern living, further influencing property design.
Developers in Barcelona are responding to these trends by incorporating home office spaces into new projects. This is driven by the demand from homebuyers who require functional and comfortable workspaces within their homes.
Sources: Statista, Norada Real Estate, The McLemore Group
17) Demand for flexible living spaces in central Barcelona will grow as more digital nomads move in
The growing number of digital nomads is set to increase demand for flexible living spaces in central Barcelona. In 2023 and 2024, Spain introduced a digital nomad visa, which attracted a significant number of remote workers to the country. This visa, along with Spain's high quality of life, made it a top destination for digital nomads by 2025.
Barcelona, in particular, has seen a surge in coworking spaces, with 265 centers in the city alone. This increase in infrastructure supports the needs of digital nomads who prefer urban living due to the availability of coworking spaces, cultural activities, and vibrant social scenes. The city's appeal is further enhanced by its robust internet infrastructure and cost-effective coworking options.
Additionally, the rise of short-term rental platforms like Airbnb in Barcelona indicates a growing demand for flexible living arrangements. Digital nomads often seek temporary housing solutions, and this trend is reflected in the increased interest in central Barcelona properties. The influx of international remote workers has also driven up rental costs in popular areas, highlighting the demand for flexible living spaces.
Sources: Global Citizen Solutions, Urbemar, Mighty Travels, Euronews
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.