There is a limited supply and a growing demand.
Flat rental in Barcelona shoots 10% in the second half of 2017
According to the data recorded by the real estate consultant Cat Real Estate, currently in Barcelona the average housing price is 1400€/month. This is an increase in 2,5% compared to the previous quarter.
As far as Cat Real Estate goes the occupancy ratio of the managed flats is above 95% in 2017.
Barcelona, November 25th 2017. – The rental flat market in #Barcelona keeps on evolving positively and constantly. Barcelona is a city that is limited by its geographical conditions, since there is no margin for extension, and the high levels of tourism it faces each year mean that there is a high demand and a limited supply. As of right now in Barcelona the average housing price is of 1400€/month, and the value has been increased in about 2,5% compared to the previous quarter.
This data is collected by Cat Real Estate, based in Barcelona that has been consolidated as one of the main actors in real estate, especially in commercial premises in the prime areas. From Cat Real Estate we also attribute this increase to the investment pressure experienced by most central districts. The fact is that investors keep on appreciating the value of the city, due to the constant commercial properties investment.
As a result of all this Cat Real Estate registers in 2017 a new billing record within the residential rental department. This increase is due to the stock decline on flats available in Barcelona, therefore the values increase above 7% in the same year, according to the Catalan Soil institute (Incasòl).
The fact is that the residential department of Cat Real Estate has closed numerous flat rental operations in Barcelona in an unusual time margin. Some of the operations secured by Cat Real Estate last October are: emblematic flat in Rambla Catalunya, a flat on the Beach front or a flat in Portal de l’Angel.
So much so that the average time that elapses from the acquisition of a new flat to the lease signing is less than 30 days. As the consultant also explains, within the rented flats, 40% were leased to international clients, highlighting students of University masters and workers of the tech sector.
Despite the estimate that flats will keep on increasing around 8% in Barcelona according to a report of the Barcelona University, the occupancy ratio in Cat Real Estate is higher than 95% in 2017.
Forecasts for 2018
Cat Real Estate leads the real estate investment market in Barcelona and Madrid. In the first semester of the year the company has already brokered in 60 operations with a real estate volume administration than exceeds 400 million euros.
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