The real estate market has been hit particularly hard on a global scale since the middle of the second quarter of 2020 as a result of the states of alarm declared in the wake of Covid-19. The retail sector and all properties related to tourist activities have suffered particularly, but the residential sector, although to a lesser extent, is also being affected.
The property market is fluctuating on a global scale, and especially so this year 2020 with the impact of the Covid-19 pandemic.
At Withfor we want to help you understand the current situation of the residential property market in Barcelona, specifically in the Eixample and Sarrià Sant-Gervasi districts. Therefore, we offer you information that will be very useful for you to be able to compare the behaviour and evolution of the price of housing in Barcelona 2020 in relation to the year 2019 (and other previous years), taking into account the most important neighbourhoods and the square metres.
The price trend in this year 2020 is in decline in the country’s main capitals, and Barcelona is no exception.
From the maximums reached in terms of price per m2 in July 2019 in the neighbourhoods of Sarriá San Gervasi and l’Eixample (see graph 1 below), prices have been maintained during the first part of 2020. In the graph we can see how prices have remained stable in Sarriá Sant-Gervasi since the beginning of 2018, while in l’Eixample they have continued to rise until 2020.
Graph 1. Evolution of prices in euros per square metre in the municipalities of L’Eixample and Sarriá-Sant Gervasi.
Source: Department of Statistics and Data Dissemination. Barcelona City Council.
*We show the data of the districts of L’Example and Sarriá- Sant Gervasi as they are the areas where we have more flats for sale
The data presented below are from the Eixample and Sarriá – Sant Gervasi neighbourhoods (graph 2) vs. the whole of Barcelona (graph 3) from 2013 to 2019. It can be seen that these two neighbourhoods combined, absorb between 9% and 11% of the total number of homes sold in Barcelona as a whole.
Graph 2. Evolution of housing sales in the municipalities of L’Eixample and Sarrià-Sant Gervasi.
Source: Department of Statistics and Data Dissemination. Barcelona City Council.
*We show the data for the districts of L’Eixample and Sarriá – Sant Gervasi as these are the areas where we have the most flats for sale
Graph 3. Evolution of home sales in Barcelona. Withfor data.
Source: Department of Statistics and Data Dissemination. Barcelona City Council.
The data presented below are from the districts of l’Example and Sarriá – Sant Gervasi.
Graph 4. Percentage of Newly-built vs. Used Homes in L’Eixample.
Source: Department of Statistics and Data Dissemination. Barcelona City Council.
Graph 5. Percentage of new build homes vs. used in Sarrià – Sant Gervasi.
Source: Department of Statistics and Data Dissemination. Barcelona City Council.
The data presented below are from the Eixample and Sarriá – Sant Gervasi districts.
Graph 6. Evolution of size in sqm of homes in Barcelona.
Source: Department of Statistics and Data Dissemination. Barcelona City Council.
However, according to figures from the Tinsa IMIE index, Catalonia, specifically the city of Barcelona, is developing positively in terms of home sales transactions this year, 2020, despite the Covid-19 crisis.
From the data on the units sold in the city of Barcelona, specifically in the Sarrià-San Gervasi and L’Eixample districts from 2014 to the second quarter of 2020, we can see that there has been a slight fall of 3% in the number of units sold in the city of Barcelona.
Graph 7. Number of units sold per quarter 2019-2020 in Barcelona.
Source: Department of Statistics and Data Dissemination. Barcelona City Council.
The market has slowed down due to the pandemic, as many are waiting for a good time to buy a flat before making the final decision. And there are clearly reason for it: on the one hand, the state of alarm that made it difficult to visit flats; and on the other hand, for example, the fear of making such an important investment at a time of great economic uncertainty.
So, if you are a property owner, you will be interested in reading more about advice on renting a flat or, perhaps, advice on selling a flat.
Remember that at Withfor, we can advise you on the best way to enter the real estate market and get the best out of it.
We are here to help you! We invite you to wait for the data of the third quarter that we will publish soon, in which the price trends of the market in these neighbourhoods will be seen more clearly.
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