Property Prices: Catalonia is witnessing a projected 10% increase in property prices this year, aligning with national trends. This surge is fueled by strong demand, limited housing supply, and favorable mortgage conditions. idealista.com
Transaction Volume: In 2024, property transactions in Catalonia rose by 7.6%, totaling 98,732 sales. Experts anticipate double-digit growth in the second quarter of 2025, particularly in Barcelona and its metropolitan areas.
Barcelona’s Market: The city of Barcelona saw a 34.1% increase in property transactions in Q4 2024 compared to the same period in 2023. Average property prices reached €4,700 per square metre by the end of 2024, marking a 12.8% annual increase.
Rental Market Dynamics
- Rent Caps: Catalonia implemented rent caps in designated “stressed zones” in 2024. While average rents in these areas decreased by 3.7%, the number of new rental contracts also declined significantly, indicating a tightening rental market. AP News+2Spanish Property Insight+2idealista.com+2
- Shift to Short-Term Rentals: Landlords are increasingly moving properties from long-term rentals to seasonal or holiday rentals, which are currently not subject to rent caps. This shift has led to a 45% increase in seasonal rental listings across Catalonia
Foreign Investment and Luxury Market
- International Buyers: Foreign investors continue to play a significant role in Catalonia’s real estate market, accounting for approximately 17% of total sales in the first half of 2024. idealista.com
- Luxury Properties: High-end areas in Barcelona, such as Pedralbes and Sarrià-Sant Gervasi, have seen average property prices reach €7,200 per square metre. The luxury market is expected to grow moderately, driven by sustained demand and limited supply
Regulatory Measures and Housing Policies
- Tourist Tax: Catalonia plans to double its tourist tax by the end of 2025, with at least 25% of the revenue allocated to housing policies aimed at mitigating the housing crisis exacerbated by high tourist numbers. The Times+1Reuters+1
- Short-Term Rental Restrictions: Barcelona intends to eliminate tourist apartment licenses by 2028 to address housing affordability concerns. This measure has been upheld by Spain’s Constitutional Court, reinforcing the city’s initiative to regulate holiday rentals.
