Wednesday, 27 January 2016 10:15

“All the conditions are right for foreign investments in Barcelona”

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“All the conditions are right for foreign investments in Barcelona”

In recent months the real estate prices started to rise. In the past years the crisis led to a sharp decline but that time is over. Now is the right time to buy property in Barcelona. Laure Sivadon, Realtor at Barcelona Properties & Real Estate Services, explains what investors are looking at according to their nationalities.

Is the real estate crisis a thing of the past?

In Barcelona we are seeing a strong demand for apartments for sale. The prices are going to go up, as investments are numerous. It must be said that Barcelona is not short of attractions: it has a pleasant climate and is well-served by its international airport. All the right conditions are in place to attract foreign investors.

What are Real estate investors looking for?

They are looking for a good opportunity to buy a home. We receive many requests by foreign investors to buy a pied-a-terre in Spain. Many like to buy an appartment to enjoy during a holiday. Most of these investors decide to rent out their Barcelona appartment short term for a period of one to three months.

Are there any favored neighborhoods?

That seems to depend a little on nationality. The customers of Barcelona Properties & Real Estate Services are mostly foreign. We have a lot of French investors, some Americans, some Germans and a scattering of other nationalities. We see for example that the British like the neighbourhood of Gràcia and the Gothic quarter. They are also the areas that are easy to rent out to tourists as they are located right in the center of the city. The French love Sarria and buy a home to live in. As for the Americans and Russians, they set their sights on apartments for sale in Diagonal Mar because the surroundings are calm. The more expensive apartments are located in this neighbourhood, intended for large investments ( € 800,000 to 1 million).

Beyond the centre city, what are the places surrounding Barcelona that buyers seek?

Around Barcelona, the seaside towns are popular such as Garaf, Castelldefels and Sitges. Especially retirees seek to be close to sea and have the city nearby.