Barcelona is currently one of the hottest destinations for property investment in Europe. This mediterranean city holds such a great appeal to investors, especially foreign buyers, due to its growing economy and decreasing unemployment rate. Read more here to find out why you should invest in this city!
Now, the question is no longer whether to invest in Barcelona, but instead “where to invest in Barcelona?”. Answering this question requires analysis of current market and prediction of future trends in Barcelona real estate scene. This is why we seeked advice from Stefania Arzamendia, our Real Estate investment advisor, to compile a list of the most attractive neighborhoods in Barcelona that guarantee to bring you high return-on-investment.
El Raval – the melting pot of Barcelona
Unlike other areas in Ciutat Vella, El Raval offers classic Catalan properties at a surprisingly affordable price. The perfect combination of central location and low price makes Raval a great contender for the most sought-after neighborhood by international investors. This area attracts a lot of young foreigners hoping to stay in Barcelona for a few months; and a property is usually rent out quickly due to high demand.
Property price per sqm in El Raval usually starts from 4000€ although this can vary greatly depending on the type of property. A refurbished flat, one that has both classic elements and modern renovation, can cost up to 5000€ – 8000€ per sqm. However, investors can also choose a cheaper property at under 2500€ per sqm and then make some quick renovations. Regardless of the option you choose, properties in El Raval still offer good rental opportunities. However, you should pay attention to the street where the property is located.
Poble Sec – the up-and-coming town
Similar to El Raval, the lively Poble Sec also has the best of both worlds: cheap properties in an enviably excellent location. The area attracts many foreigners, “including young professionals such as architects, designers, and artists who have opened studios in the streets of Poble Sec.” The area presents great rental opportunities as many international students rush here to find an accommodation as it is easily accessible to a few of Barcelona’s universities.
Price in Poble Sec usually starts at around 4000€ per sqm. Same as in Raval, flats to refurbish are much cheaper, varying from 2000€ to 2500€ per sqm. In high-demanded areas such as Avenida Paralelo or Calle Blai, prices can go up to 5000€. These prices are extremely attractive for an up-and-coming area like Poble Sec, which is where you should be looking at for buy-to-let investment.
Sant Antoni – The dark horse in Barcelona real estate scene?
This neighborhood has long been overlooked, yet it is closed to many dynamic and popular places such as Raval or the Montjuic hill. The area also has excellent transportation networks that allow you to reach the airport in 15 minutes from Plaza de Espanya.
Buildings in Sant Antoni are mostly recently built and thus have modern features such as lifts or balconies and lack the unique Catalan details often found in Raval. Currently, the neighborhood is mostly under construction and property price tends to start at 3500€ per sqm, which is cheaper than the surrounding areas. However, once the reconstruction is finished, the demand is expected to explode and the price is likely to increase. This scenario, combined with excellent location, makes Sant Antoni an appealing option for investors wanting to resell or rent out their properties and making some profits.
Make the right investment!
Currently, most investors are focusing on popular areas such as Gotico, Born, or Barceloneta, where the prices are already very high. However, in order to make wise investments in the long run, you shouldn’t overlook the three areas mentioned above. Those are the places that will bring you money in the future!