To buy a second-hand home in the city of Barcelona, you have to pay, on average, 4,306 euros/m2, after a reduction of half a percentage point in the last year, according to data from the latest report. Gone are the two-digit interannual variations that were shown in 2017 and 2018”, they point out from the real estate portal. All the districts of Barcelona exceed the average price of national housing, which at the end of last year stood at 2,051 euros/m2. However, three districts go further by being above the barrier of 5,000 euros/m2.
The most expensive area of the Catalan capital is Sarrià-Sant Gervasi. Thus, the price of used houses in said district, which has an area of 20.09 km2 and a population of 148,172 inhabitants, reaches 5,675 euros/m2. In other words, buying a typical 90 m2 house would exceed 510,000 euros. "This area is popularly known as the upper area of Barcelona and is made up of very large homes, generally surrounded by community facilities and green areas, which raise average home prices."
Eixample -formed by six neighborhoods- is the second most expensive district in the city, with a price of 5,510 euros/m2. In this case, "the houses are also very spacious and it is an area that is gradually being revalued because many of the large apartments in this district are being rehabilitated and reformed", s. In addition, “it is a very fashionable area for foreigners who want to stay and live in Barcelona and many of them opt for this district to buy a home and are profiles with high purchasing power. This plaintiff is causing prices to rise”, adds the expert.
The third most expensive area to become an owner is Les Corts, with 5,384 euros/m2. This district is home to one of the most exclusive areas of Barcelona: the Pedralbes neighborhood. The neighborhood "is basically made up of large mansions and where the highest per capita income in Barcelona is found", who adds that this fact "makes the average for the district of Les Corts always higher despite the fact that other neighborhoods have the prices more in line with the average of the city”
Now below 5,000 euros/m2, they are followed by Gràcia (4,588 euros/m2) and Ciutat Vella (4,562 euros/m2). From Fotocasa they point out that "the five Barcelona districts with the highest average home price in 2022 are the same for nine years". For their part, used homes cost between 4,000 euros/m2 and 3,000 euros/m2 in the districts of Sant Martí (3,976 euros/m2), Sants-Montjuïc (3,469 euros/m2), Horta-Guinardó (3,379 euros/m2) and Sant Andreu (3,185 euros/m
Where does it get cheaper?
In line with the general behavior of the city -it registered a drop in the price of used housing of 0.5% compared to December 2021-, there were six districts, although their decreases were larger. “The decreases of 2013 return with force, reaching six districts with negative data in 2020 as well. It should be noted that in less than six years the panorama has completely changed in Barcelona: at the end of 2013 the price fell in nine districts, in 2014 it did so in four and in 2015 only one. In 2016 and 2017, no negative annual variations were found in any district, although in 2018 and 2019 only two districts decreased.
In Sants-Montjuïc, second-hand houses have become cheaper by 3.4% in the last year. The district of Sant Martí has experienced a decrease of 2.7%, while the price of second-hand housing has fallen by 1.7% in Sarrià-Sant Gervasi (the most expensive in the city) and by 1.2 % Old City.
Posted by the economist 1/23/2023
