70% of the applicants for flats in the upper area of Barcelona look for the Galvany neighborhood as their first or second option, the area of Barcelona that has displaced Sarria and Pedralbes as the most desired by luxury home buyers in the city.
Very close to Galvany stand out Sarrià (63%), and at a considerable distance Bonanova (47%) and Tres Torres (25%).
Galvany also concentrates the largest number of homes for sale in the upper area: 40% of the 2,000 that are now offered in real estate and portals. Most of them come from inheritances or divorces, and that in the future it is possible that there will be more sales of entrepreneurs or managers affected by the crisis.
The pandemic has slowed down the rate of sales in the area, placing the average period to sell a home at six months. It has also adjusted prices. Rationality has been imposed on the market again: prices accelerated from the summer of 2019 and now they have returned to the level of then, around 5,000 euros / m2. The offer prices had reached around 7,000 euros / m2 in January-February, very high in contrast to the 8,500 euros / m2 for new construction in the area.
The pandemic has alienated the expectations of buyers (who seek steep discounts) and sellers, who are confident that the vaccine will normalize the economy in spring. But it is foreseeable that the transactions will stop in the coming months, until the situation is clarified. All in all, the negotiation margin has increased and the owners accept an average discount of 11% compared to 6% before the pandemic.
In the area, most buyers are young families who move from renting to buying, often with family help with entry. And investors, who are looking for a tight return, but without scares. What has changed the pandemic is the preference of buyers. Before they were looking for apartments with parking. Now what is essential is the terrace.
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Housing in Catalonia in December 2020 had an average rent of € 1,272 and an average area of 107 m2, falling by -3.18% compared to November 2020. The rental price in Catalonia fell by 2.23% compared to last year. Year-on-year, all Catalan capitals lowered their incomes, with Barcelona (-12.85%) being the third in the list of cuts throughout Spain.
The standard apartment in Catalonia registered in December 2020 an average surface area of 107 m2 and an average rent of € 1,272, which represented a year-on-year decrease of -2.23%. Compared to November, it fell by -3.18%, leading the national falls. Quarterly, it was down -1.62%. In the second semester, it was the one that adjusted the least: -0.10%.
Catalonia was the third autonomous region with the most expensive monthly payment for tenants, behind Madrid (€ 1,611 / month) and the Balearic Islands (€ 1,369 / m²). For its part, the typical rental apartment in Spain had an average surface area of 107 m2 in December and an average monthly payment of € 980. This figure marked a monthly drop of -0.51%, a quarterly drop of -0.81% and a semi-annual drop of -1.01%. Year-on-year, it increased 1.45%.
Barcelona was the second most expensive capital in Spain
Compared to November, all the Catalan provinces fell, showing Girona (-1.26%) the most intense cut in the region. From one year to the next, all of them also fell, and the one with the most was Girona (-8.22%), which was fifth in the general ranking of decreases. With 1,501 euros of average monthly rent in December 2020, Barcelona was the second most expensive province for tenants in Spain, while Lleida (€ 631 / month) was the cheapest province in Catalonia.
As for the Catalan capitals, they all devalued monthly, with Tarragona (-2.71%) registering the third most intense cut in the country. Year-on-year, all Catalan capitals lowered their income, with Barcelona (-12.85%) being the third in the list of national cuts. In the section on average monthly income, Barcelona (€ 1,698 / month) was the second most expensive provincial capital in Spain. Lleida (€ 633 / month) was the most affordable capital of the autonomous region.
The fifth most expensive province in the Spanish country in 2020 was Barcelona (€ 2,423 / m²) according to the annual report of apartment sales prices. With 4,522 euros per m2 in December 2020, Barcelona was the second most expensive provincial capital in Spain.
Regarding the districts of the capital Barcelona, the quarterly increases were led by Ciutat Vella (5.87%), Gràcia (2.21%) and L´Eixample (1.50%). In this period, the most striking falls were thrown by Les Corts (-3.73%), Horta-Guinardó (-3.08%) and Sants-Montjüic (-1.31%). Every six months, the districts that increased the most were Ciutat Vella (6.34%), Sant Martí (4.58%) and L´Eixample (2%). For their part, Les Corts (-1.87%) and Gràcia (-1.43%) were the only districts that fell back. From one year to another, the ones that grew the most were Sarrià-Sant Gervasi (3.39%), Les Corts (2.45%) and Ciutat Vella (2%), while the area of decreases had L´ Eixample (-9.22%), Gràcia (-8.18%) and Sants-Montjüic (-2.84%). Sarrià-Sant Gervasi (€ 5,648 / m²), Les Corts (€ 5,502 / m²) and L´Eixample (€ 4,999 / m²) were the most expensive districts, while the cheapest were Nou Barris (€ 2,481 / m²), Sant Andreu (€ 3,166 / m²) and Horta-Guinardó (€ 3,234 / m²).
Regarding the Barcelona municipalities: Martorell (28.48%) registered the second most pronounced increase in Spain and Sitges (€ 4,049 / m²) was the sixth most expensive municipality in the general calculation.
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