|August 11, 2015||No Comments|
Apartments in Barceloneta are seeing a considerable rise in value thanks to recent renovations in the area. Many property owners are still unaware of the market growth, leading to discontinuity in market prices.
The housing crisis that erupted in 2008 left the Barcelona market at a stand still. Even the most expensive neighbourhoods that were initially thought to be the most likely to succeed given their scarcity and inevitable demand were affected. According to statistics this type of property has reduced in price by between 25% and 40%. This significant reduction has acted as key incentive to drive foreign investors to the Barcelona market, bringing in some 300 million euros. It is clear that the typical investor buys with the intention to rent out, taking advantage of the attainable price points and the undeniable appeal of Barcelona’s high quality lifestyle.
What is most interesting about this phenomenon is that many local owners are still unaware of their property’s increasing worth; you will now find that many apartments for sale in the Barceloneta area all significantly underpriced. In many cases the value of property per m² has almost doubled, making the neighbourhood especially attractive to foreign investors.
These are exciting times in Spanish real estate and here at Casamona we’re watching intently. For more information on our Barceloneta properties, click here