The Barcelona Property Market Q4 2022

The total number of sales in the province of Barcelona during the last quarter of 2022 registered an increase of 8.4% compared to the number of sales during the same period in 2021. Sales of resale properties increased by 12.1%, whereas those of new homes registered a decrease of 7.6%.

According to the latest data from the Spanish National Institute of Statistics (INE), the number of properties sold across Spain during 2022 reached 649,712, the highest figure since 2007 when 775,300 properties were sold, and an increase of 14.7% on the number of properties sold in 2021.

However, properties sold in December 2022 registered a fall in number compared to December 2021, with 43,370 transactions compared to 48,279, a decrease of 10.17% and the first year-on-year decrease registered for 21 months. Experts had already predicted that this might be the case towards the end of the year, due to increased interest rates and hence greater difficulty in securing mortgage financing.

Stability and growth

The property market in the province of Barcelona fluctuated throughout the year but it is still showing signs of stability and growth despite the challenges of recent years. One of the key drivers is the continued strong demand for housing, largely due to the city’s popularity amongst both local and foreign property buyers and its status as an international business hub.

However, the latest data also shows that property sales within the province of Barcelona are following similar trends to the national figures, with a dip in sales in the last month of the year. 4,315 property transactions were registered in December 2022 compared to the 4,831 sales registered in December 2022, representing an annual decrease of 12%.

Property transactions in Barcelona city

The picture was more positive within the city of Barcelona itself, however. According to the latest figures from the Generalitat de Catalunya, the number of property transactions in the fourth quarter of 2022 throughout the city of Barcelona grew by 19.5% when compared to the last quarter in 2021, with 4,067 transactions being registered compared to 3,404 in the fourth quarter of the previous year.

Nine out of the city’s ten districts registered increases, with the only district registering a decrease being the neigbourhood of Sant Andreu. The most significant increases were in the centre of the city, in the district of Cituat Vella (Barcelona Old Town), and in the highly sought-after district of Gràcia.

– Barcelona Old Town (Ciutat Vella): 350 sales (57.66% increase)

– Gràcia: 364 sales (55.56% increase)

– Nou Barris: 533 sales (41.01% increase)

– Eixample: 694 sales (20.70% increase)

– Les Corts: 149 sales (14.62% increase)

– Sants-Montjuïc: 421 sales (14.09% increase)

– Sarrià-Sant Gervasi: 296 sales (12.55% increase)

– Horta-Guinardó: 401 sales (11.39% increase)

– Sant Martí: 581 sales (5.44% increase)

– Sant Andreu: 248 sales (16.50% decrease)

Property prices in Barcelona

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Average property prices across the city ended the year on €4,058 per square metre, an annual increase of 3.2%, according to leading property portal Idealista. Average prices increased in nine out of the city’s ten districts, with the most pronounced being in the central, prestigious district of Eixample, where prices ended the year on €4,835 per square metre. Prices were highest in the extremely desirable area of Sarrià-Sant Gervasi followed by Les Corts, with average prices per square metre of €5,346 and €5,403 respectively.

– Eixample: €4,835 per square metre (6.54% increase)

– Les Corts: €5,043 per square metre (5.61% increase)

– Gràcia: €4,491 per square metre (5.00% increase)

– Sant Andreu: 3,192 per square metre (4.90% increase)

– Barcelona Old Town: €4,165 per square metre (4.10% increase)

– Sarrià-Sant Gervasi: €5,346 per square metre (2.16% increase)

– Nou Barris: €2,444 per square metre (1.88% increase)

– Horta-Guinardó: €3,093 per square metre (1.58% increase)

– Sants-Montjuïc: €3,383 per square metre (0.30% increase)

– Sant Martí: €3,544 per square metre (0.53% decrease)

Average property prices in Barcelona City continue to remain higher than those in the capital, Madrid, with the average price ending 2022 on €4,058 per square metre compared to €3,939 per square metre in Madrid.

Rental prices in Barcelona

Rental prices have continued to rise with average prices increasing substantially across all of the city’s ten districts. Average rental prices across the city as a whole ended 2022 on €19.3 per square metre, showing an annual increase of 25.3%. The prestigious areas of Eixample and Sarrià-Sant Gervasi once again registered the highest increases, as well as some of the more expensive rental prices, ending 2022 on €20.6 and €20.7 per square metre respectively.

– Eixample: €20.6 per square metre (28.75% increase)

– Sarrià-Sant Gervasi: €20.7 per square metre (28.57% increase)

– Sant Martí: €20.0 per square metre (28.21% increase)

– Barcelona Old Town: €22.8 per square metre (22.58% increase)

– Gràcia: €18.0 per square metre (20.81% increase)

– Sants-Montjuïc: €16.7 per square metre (19.29% increase)

– Les Corts: €16.9 per square metre (16.55% increase)

– Horta-Guinardó: €14.4 per square metre (15.20% increase)

– Nou Barris: €13.4 per square metre (8.94% increase)

– Sant Andreu: €14.1 per square metre (8.46% increase)

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