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If you've enjoyed the central location and architectural beauty in Eixample Derecho, you may contemplate living in this Barcelona district.
Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?
We'll answer all these questions for you! When building and updating our property pack for Spain, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.
Why do property buyers like investing in Eixample Derecho?
Eixample Derecho, or the Right Eixample, in Barcelona, stands out as an especially attractive location for property buyers, and there are several reasons for this.
Initially, let's delve into what makes it uniquely appealing compared to other real estate markets, not just in Barcelona but broadly.
One of the most striking features of Eixample Derecho is its architectural richness. This area is famed for its Modernist buildings, including some of Antoni Gaudí's most renowned works like Casa Batlló and La Pedrera.
This architectural heritage doesn't just add aesthetic value; it imbues the area with a historical and cultural significance that's rare.
In contrast to newer, more homogenous developments in other parts of the city or in other cities, Eixample Derecho offers a living experience steeped in art and history.
But it's not just about the buildings. The layout of Eixample Derecho is another distinctive aspect. Designed by Ildefons Cerdà in the 19th century, the area features a unique grid pattern with broad avenues and octagonal blocks.
This design not only facilitates better traffic flow but also ensures more sunlight and ventilation for the apartments. It’s a stark contrast to the narrow, winding streets of the Gothic Quarter or the more conventional urban layouts of other districts.
Now, regarding its popularity, Eixample Derecho began to gain attention in the late 19th and early 20th centuries as part of the broader expansion of Barcelona. Over time, it has remained a sought-after area, thanks partly to its enduring architectural appeal and partly to its central location.
Being in the heart of Barcelona, it offers easy access to key areas of the city, including business districts, shopping centers, and cultural hotspots.
The question of whether this hype will remain is interesting. Given its enduring historical and architectural significance, it's likely that Eixample Derecho will continue to attract interest.
However, real estate markets can be unpredictable, and factors like economic shifts or changes in urban development priorities can influence its appeal.
The type of people attracted to Eixample Derecho is quite diverse. It appeals to art and architecture enthusiasts, given its Modernist buildings. Affluent professionals and expatriates also find the area attractive for its central location and high-end amenities. This mix adds to the cosmopolitan atmosphere of the neighborhood.
However, there are some drawbacks. The very features that make Eixample Derecho appealing can also be seen as negatives.
For example, the historical buildings, while beautiful, can sometimes mean higher maintenance costs or less modern facilities compared to new developments.
Additionally, the popularity of the area can lead to higher living costs, making it less accessible for some. Traffic and tourist crowds, especially near major landmarks, can also detract from the residential appeal of the area.
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Why is Eixample Derecho a nice place to live?
Living in Eixample Derecho is often considered a unique and enriching experience, owing to its distinctive lifestyle, culture, and amenities.
The lifestyle and culture in Eixample Derecho are deeply influenced by its rich architectural heritage. The area is known for its stunning Modernist buildings, including notable works by Antoni Gaudí, which not only contribute to the aesthetic beauty of the neighborhood but also infuse it with a strong sense of history and art.
The wide avenues and spacious squares encourage a vibrant street life, with numerous cafes, bars, and restaurants offering a lively social scene. This cosmopolitan atmosphere is further enriched by a variety of cultural venues and events, making it a hub for arts and entertainment.
The expatriate community in Eixample Derecho is quite prominent, adding to the area's diverse and international vibe. Expats are drawn here for various reasons, including the architectural charm, the central location, and the high quality of life.
This international presence contributes to a multicultural environment, where different languages and cultures coexist harmoniously.
Living in Eixample Derecho, however, does come at a cost. It is considered one of the more expensive areas in Barcelona, reflected in the housing prices, cost of living, and general expenses. While this may be a deterrent for some, others find the quality of life and the unique charm of the area worth the expense.
Safety in Eixample Derecho is generally good. Like any major urban area, it's wise to be cautious, especially at night or in crowded tourist spots, but overall, the neighborhood is considered safe and well-policed.
The amenities and facilities in Eixample Derecho are top-notch. You have access to prestigious educational institutions like the Escola Superior de Música de Catalunya for music enthusiasts or the IED Barcelona for design and fashion.
There are numerous healthcare facilities, including the Hospital Clínic de Barcelona, known for its excellent medical services. Shopping options are abundant, with Passeig de Gràcia being one of the prime shopping streets, housing both luxury brands and local boutiques.
The quality of infrastructure in Eixample Derecho is impressive. The roads are well-maintained, and utilities like electricity and water supply are reliable. Internet connectivity is generally excellent, catering to both residents and the professional crowd.
Accessibility is one of Eixample Derecho's strong suits. It's well-connected to other parts of Barcelona, making it easy to explore the city. Major transport hubs like Barcelona-El Prat Airport are easily reachable via public transport or road.
Speaking of public transportation, Eixample Derecho offers a range of options. The area is well-served by the Barcelona Metro, with several stations like Passeig de Gràcia and Diagonal.
There are also numerous bus routes, and for those who prefer cycling, there are dedicated bike lanes and bike-sharing services.
How much does it cost to buy real estate in Eixample Derecho?
If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Spain.
When considering buying property in Eixample Derecho it's essential to understand the types of properties available and the current market dynamics.
In Eixample Derecho, you'll predominantly find apartments, including both modern and historical options. The historical apartments are particularly sought after, often featuring unique Modernist elements and high ceilings.
These properties are in high demand due to their architectural charm and central location. While there are houses and luxury villas available, they are more scarce in this urban setting.
The real estate market in Eixample Derecho is characterized by a mix of resale properties and some new developments. The new developments tend to be modern luxury apartments, often resulting from the renovation of older buildings.
These new developments are highly coveted, combining modern amenities with the classic charm of Eixample Derecho.
Regarding pricing, properties in Eixample Derecho are among the more expensive in Barcelona. Prices per square meter can vary significantly based on factors like the property's size, condition, and location within the neighborhood.
Generally, you can expect prices to range from around €4,000 to €10,000 per square meter, with luxury and renovated properties at the higher end of this spectrum.
Over recent years, property values in Eixample Derecho have seen a steady increase. This trend is driven by the area's enduring popularity, its architectural heritage, and its central location.
However, like any real estate market, these trends can fluctuate based on broader economic conditions and local developments.
Looking ahead, there are no major city planning changes announced that would drastically alter the landscape of Eixample Derecho. Any new developments or changes in urban policies could potentially impact property values.
For instance, initiatives to enhance public transport or pedestrian areas could make the neighborhood even more attractive, potentially driving up property prices.
Predictions for the real estate market in Eixample Derecho in the coming years suggest a continued interest in this area, especially among buyers who value historical significance and architectural beauty.
The limited availability of new properties in this mature neighborhood might also contribute to a steady increase in property values.
Several factors indicate a potential increase in property values in Eixample Derecho.
Firstly, its historical and cultural significance makes it a perennially desirable location.
Secondly, the ongoing demand for properties in central Barcelona, coupled with the limited supply in Eixample Derecho, suggests that prices might continue to rise.
Lastly, any improvements in infrastructure or amenities in the area could further enhance its appeal to potential buyers.
Where is the best area to buy a property in Eixample Derecho?
When considering the best area to buy a property in Eixample Derecho it's crucial to understand the nuances that different parts of this neighborhood offer.
Eixample Derecho is diverse, each area offering a unique atmosphere, variety of property types, and varying price ranges.
Firstly, the area around Passeig de Gràcia is highly coveted. This is one of Barcelona's most prestigious streets, known for its luxury shopping, dining, and stunning Modernist architecture, including famous works by Antoni Gaudí. Properties here are often spacious, with historical features and high ceilings.
However, this prestige comes with a higher price tag, making it one of the more expensive areas within Eixample Derecho.
Moving slightly away from Passeig de Gràcia, you'll find areas like Quadrat d'Or (Golden Square), which still offer beautiful Modernist buildings but at slightly more accessible prices.
This area retains a rich architectural heritage and a vibrant cultural scene, making it an attractive option for those who want the Eixample Derecho experience without the Passeig de Gràcia price tag.
For buyers looking for up-and-coming areas within Eixample Derecho, the vicinity around Sagrada Familia could be of interest. While this area is more residential and less glamorous than the heart of Eixample Derecho, it's gaining popularity.
The ongoing completion of the Sagrada Familia and improvements in local amenities make it an area to watch. Properties here can offer better value for money, and there's potential for appreciation as the area continues to develop.
Another noteworthy area is near the Arc de Triomf and Parc de la Ciutadella. It's a bit more laid back and green, thanks to the proximity to the park, yet still retains the charm and elegance of Eixample Derecho.
Properties here can be a good mix of old and new, and the area offers a slightly more relaxed lifestyle while still being centrally located.
On the other hand, areas closer to the borders of Eixample Derecho, especially those nearing the busy thoroughfares like Gran Via, might not be as advisable for those seeking a quieter residential experience. These areas can be noisier and less charming, although often more affordable.
Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Spain.
| Area | Characteristics | Property Types | Price Range | Recommended For |
|---|---|---|---|---|
| Passeig de Gràcia | Prestigious, luxury shopping, famous architecture | Spacious, historical features | Higher | Seekers of luxury and prime location |
| Quadrat d'Or | Rich architectural heritage, vibrant culture | Mix of Modernist buildings | Moderate to High | Balance of beauty and value |
| Near Sagrada Familia | Residential, developing, potential for appreciation | Variety, better value for money | Moderate | Future potential, value seekers |
| Near Arc de Triomf and Parc de la Ciutadella | Relaxed, green spaces | Mix of old and new | Moderate | Quieter, relaxed lifestyle |
| Borders near Gran Via | Noisier, less charming | More affordable options | Lower | Budget-conscious buyers |
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Is there a strong rental demand in Eixample Derecho?
In Eixample Derecho there is indeed a strong demand for rental properties, but the nature of this demand varies between short-term and long-term rentals, each attracting different tenant profiles.
The area's appeal for short-term rentals largely stems from its tourist attractions, notably its architectural landmarks and central location. Visitors to Barcelona often seek accommodations in Eixample Derecho for its proximity to notable sites like Passeig de Gràcia and Sagrada Familia.
These short-term renters are typically tourists or business travelers who prefer the convenience and aesthetic appeal of the neighborhood.
On the other hand, long-term rentals in Eixample Derecho are popular among professionals, expatriates, and students. This demand is fueled by the neighborhood's vibrant cultural scene, excellent connectivity, and the prestige of living in one of Barcelona's most iconic areas.
These tenants often look for modern amenities in historical settings, preferring well-maintained apartments that blend the area's architectural charm with contemporary comfort.
When considering the types of properties in high demand, apartments, especially those with balconies or terraces, are particularly sought after. For short-term rentals, properties with easy access to tourist attractions and those offering a 'local living experience' are in high demand.
For long-term rentals, tenants often seek properties that are well-connected to public transportation, close to workplaces, and have good internet connectivity, as remote working becomes increasingly common.
Specific areas within Eixample Derecho like the vicinity of Passeig de Gràcia or near Sagrada Familia are especially popular. These areas offer the dual benefit of being in the heart of the city while also providing a residential feel, making them attractive for both short-term and long-term renters.
Amenities that can help reduce vacancy rates include high-speed internet, modern appliances, air conditioning, and access to public transport.
Additionally, having a balcony or terrace can be a significant draw, especially in a dense urban area like Eixample Derecho.
In terms of potential returns on investment, properties in Eixample Derecho can yield attractive profits, though exact numbers vary based on property type, location, and market conditions.
Generally, the return on investment (ROI) for rental properties in this area can be higher than in less central locations of Barcelona. This is due to the high demand and the premium renters are willing to pay for living in such a sought-after neighborhood.
Looking ahead, properties that offer a blend of historical charm and modern amenities are likely to see increasing demand.
Additionally, smaller apartments or studios, which are more affordable for young professionals and students, could potentially offer better yields, especially as the trend towards remote working continues and people seek well-located, functional living spaces.
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Is it easy to buy a property as foreigner in Eixample Derecho?
Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in Spain.
Buying a property in Eixample Derecho, Barcelona, as a foreigner is generally straightforward, but there are specific aspects to consider to ensure a smooth purchasing process.
Firstly, there are no significant regulations or restrictions specifically targeting foreign buyers in Barcelona or Spain. Foreigners, whether from the EU or outside, have the same rights to buy property as Spanish citizens.
However, non-EU residents may need to obtain certain documents, like a foreign identity number (NIE), which is essential for property transactions in Spain.
The purchasing process in Eixample Derecho typically starts with property selection, followed by making an offer, signing a preliminary contract (contrato de arras), and then proceeding to the final deed of sale (escritura de compraventa) which is formalized before a notary.
One of the primary risks associated with property investment in Eixample Derecho, as with any major urban real estate market, is the potential fluctuation in property values. Market dynamics can change, influenced by economic factors, changes in local property laws, or shifts in the demand-supply balance.
Another risk is buying a property without fully understanding the legalities or the condition of the property, which can lead to unexpected costs or legal complications.
Classic pitfalls for foreign buyers in Spain include neglecting to conduct a thorough due diligence. This includes checking the property's legal status, ensuring there are no outstanding debts or liens on the property, and understanding the local property taxes and fees.
Unique to Spain, it's crucial to ensure that all renovation works on the property have been carried out legally and with the necessary permits, as unauthorized alterations can lead to legal issues.
Working with a local real estate agent or lawyer is highly advisable. A local agent can provide invaluable insights into the Eixample Derecho market, help in finding properties that meet your criteria, and assist in negotiations.
A lawyer, on the other hand, is essential for ensuring that all legal aspects of the purchase are handled correctly. They can conduct due diligence, help navigate the Spanish legal system, and ensure that your interests are protected throughout the transaction.
Common exit strategies for property investors in Eixample Derecho include selling the property at a profit when market conditions are favorable, renting it out for ongoing income (especially considering the strong rental market in the area), or leveraging the property's value to finance additional investments.
The choice of exit strategy will largely depend on the investor's goals, market conditions, and the specific characteristics of the property.
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This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.