The second-hand market continues to be a refuge value for investors who see how their money in the bank does not produce anything, instead investing in the brick, and at the price that rent is in Barcelona, they obtain a good return. The second-hand market in Barcelona, like in many other cities, can be seen as a safe haven for investors for several reasons: Profitability: The real estate market, particularly the rental market, has proven to be a profitable investment over time. Investors can buy properties on the second-hand market and rent them out to earn regular income through rentals. Investing in tangible assets: Investing in real estate offers the advantage of owning tangible assets, as opposed to keeping money in the bank, which can lose value due to inflation. Diversification: Investors often look to diversify their portfolios, and real estate can be an effective way to do so. Combining property investments with other financial assets can help reduce risk. Constant demand: Barcelona is a tourist city and an important economic center, which means that the demand for rental homes is usually constant. This makes investing in rental properties attractive as there are likely to be tenants interested in leasing the properties. Low interest rates: In low interest rate environments, such as those experienced in many parts of the world in recent years, investing in property may be more attractive compared to holding money in savings accounts or low-cost financial products. performance. Value Appreciation Potential: In addition to rental income, investors can benefit from property value appreciation over time. In markets where demand is high, property prices may increase, which could result in capital gains. However, it is important to note that investing in real estate also carries risks, such as the need to manage properties, deal with potential vacancies, maintain and repair properties, and being exposed to fluctuations in market prices. Investors should carefully consider their financial goals, risk tolerance and conduct thorough analysis before investing in the second-hand market in Barcelona or anywhere else. Additionally, economic and market conditions can change over time, so it is essential to be aware of current and future trends before making investment decisions.

The luxury residential segment in Barcelona is positioned as a driver of the rest of the market with increases that reach 43%. The statement that the sale of luxury apartments in Barcelona does not involve a crisis may be due to several factors that have been observed in certain periods or contexts. However, it is important to keep in mind that the situation of the real estate market can change over time and be influenced by various economic and social factors. Here are some possible reasons why the sale of luxury apartments in Barcelona could seem crisis-resistant at certain times: Constant demand for exclusive properties: In some cities, especially high-end tourist destinations like Barcelona, the demand for luxury properties can be constant. High net worth individuals are looking to invest in exclusive properties in premium locations, which can create sustained demand. Foreign investment: Barcelona, being a tourist and cosmopolitan city, can attract foreign investors looking for luxury properties as a form of investment or as a secondary residence. Foreign investment can sometimes act as a stabilizing factor in the luxury real estate market. Economic stability of potential buyers: In certain periods, buyers of luxury properties may be less affected by economic crises due to their more solid financial position. This can help maintain demand in the luxury segment. Shortage of supply: If the supply of luxury properties is limited, this can create a market more resistant to economic fluctuations. Shortages of supply can keep prices relatively stable, even in times of crisis. Tourist and cultural attraction of Barcelona: The city of Barcelona has a significant cultural, tourist and architectural attraction, which can influence the demand for luxury properties. Sustained demand due to the city's popularity may contribute to the apparent resilience of the luxury market. It is important to note that these reasons do not guarantee immunity from future crises and that the real estate market can be affected by a variety of factors. The perception that the sale of luxury apartments does not involve a crisis must be analyzed based on the specific economic and social conditions at a given time. The sale of luxury homes nationwide soars: more sales and rising prices Purchase and sale operations rose 10% annually in the first half of 2023, according to the Report on the Spanish Real Estate Market. The text places Ibiza, Madrid, Malaga and Barcelona as four of the most dynamic luxury housing markets with a price above 2.5 million euros in the national geography. In the first three, transactions grew by 50% from one year to the next. And Barcelona as the fourth market with increases of 43%. In areas such as Barcelona the increase reached 43%, while sales doubled on the Costa Brava. The Maresme area recorded more modest figures, around 4%. As for prices, in global terms, they grew by 41%. According to the report, the first half of 2023 has closed with around 13,300 luxury homes for sale published in Spain, with a price of 2.5 million euros or more. These represent 2% of the total supply of 650,000 homes on the market. In light of these results, the confidence and great purchasing power of buyers in the luxury segment of the market can be seen in this sector, who depend less on financing and can cope with rising interest rates. Buyers in the luxury sector are also less sensitive to price increases than buyers in other segments and are guided more by confidence in their investments than by price and financial issues. The supply of luxury homes is highly concentrated in a few regions, with 97% of the supply spread across only 9 of the 50 provinces. The Andalusian province of Malaga, and specifically the town of Marbella, leads the coastal luxury segment, concentrating the largest supply of luxury homes for sale with 4,416, closely followed by the Balearic Islands with 4,327 and Madrid, further away, with 1,238. According to the report, the luxury segment already represents 15% of the local market in the Balearic Islands, 9% in Malaga, 3% in Madrid and 2% in Barcelona. Regarding the origin of luxury home buyers, the majority are from the European Union, although there is also a notable presence of investors from the United Kingdom, America and Asia. The decline in home purchases by buyers from Eastern countries (Soviet Union in particular) is accentuated. Spain has an increasingly mature local luxury market and at the same time is a country capable of attracting new buyers from all over the world, thanks to its mild climate and its admired quality of life.

The home buying and selling sector in Barcelona continues to be positive despite the fact that new construction acquisitions, renovations and renovations continue to decline. Sale of second-hand homes in Barcelona In Barcelona the situation has changed from one year to the next, and if the sale of homes in Barcelona continues to rise it is thanks to second-hand homes. Although the development of the purchase of finished properties was growing even in the midst of the pandemic, in 2022 there was the first decrease in recent years, a process that throughout 2023 has continued with a more pronounced decrease. The second-hand market continues to be a refuge value for investors who see how their money in the bank produces nothing, instead investing in the brick, and at the price that rent is in Barcelona, they obtain a good return. However, it is important to note that investing in real estate also carries risks, such as the need to manage properties, deal with potential vacancies, maintain and repair properties, and being exposed to fluctuations in market prices. Investors should carefully consider their financial objectives, risk tolerance and conduct a thorough analysis before investing in the second-hand market in Barcelona or any other town in the metropolitan area. Additionally, economic and market conditions can change over time, so it is essential to be aware of current and future trends before making investment decisions. That is why at GEINBAR we always advise choosing a good real estate agency, with an expert team, before starting a purchase that does not produce the desired profitability. The general situation at the national level 717,734 is the total number of homes that were sold last year in Spain. A figure that, ultimately, translates into growth in the real estate market, but broken down into segments provides very unequal results when comparing new and second-hand construction transactions. To understand the current context of the evolution of home sales in our country, it is worth going back to the year of the pandemic. In 2020, the number of acquisitions fell below half a million properties (487,354) for the first time in several years, a figure well below the 569,993 in 2019. In 2021 it rose again, registering 674,249 sales, that is, the best figure achieved in the last fourteen years. The more than 700,000 transactions in 2022 underpin the recovery trends that began the previous year: the second-hand housing market in Spain is in a period that goes beyond stability, recording notable growth. In a year things have changed. Thus, from the 71,827 properties acquired in 2021, it increased to 67,763 in 2022. Of course, these are still figures that exceed those of 2020 (60,392) and 2019 (56,286). It also happens that second-hand housing has taken the opposite path. This type of property declined in the Covid-19 year, going from 513,707 transactions in 2019 to 426,962 in 2020, almost 90,000 fewer. The comeback in the following period was almost exceptional. Not in vain, the market closed the 2021 period registering the sale of 602,422 second-hand properties. In 2022 the increase has not been as notable (649,971), however, it has been like a lifeline for the real estate market in this last year. Rehabilitation and reforms There is another segment that has also registered a slight decrease: that of rehabilitation and reforms. This type of operations has especially suffered the ravages of instability in recent years, both due to international instability with the continuous armed conflicts (Ukraine, Israel, etc.), and more specifically at the national level due to the deplorable actions in matters of housing by the socialist government. And it seems to continue without a clear horizon. In 2022, 121,500 renovations and rehabilitations were carried out in Spain, compared to 123,000 the previous year. These are figures still far from the pre-pandemic stage (in 2019, 107,600 works were recorded in Spanish homes); much more than the 74,000 in 2020. In parallel, the number of housing starts has more or less followed the same trajectory of ups and downs during these years. In 2019, 96,245 properties were started, a figure that fell to 75,930 in 2020. A year later, it rose considerably, registering 100,504 transactions of this type. A boom that, a year later, seems to have deflated. In total, in 2022, 96,996 housing starts were quantified, which is 3,508 less than the previous period. In this way, the segment is placed almost at the same starting point as it was before Covid arrived to destabilize the real estate market. In summary, the real estate sector will have to be patient to see how it evolves, whether it stabilizes or, on the contrary, continues to decline.  

The residential segment of luxury homes in Barcelona is positioned as a driving force for the rest of the market. Proof of this is that purchase and sale operations rose 10% annually in the first half of 2023, according to the Report on the Spanish Real Estate Market. In this report, Barcelona, Madrid, Malaga and the Balearic Islands are identified as the most dynamic luxury markets (homes with a price greater than 2 million euros) within the Spanish territory. In these areas, transactions grew between 30% and 50% from one year to the next. Furthermore, in areas like Barcelona the increase reached 43%. As for prices, in global terms at the national level, they grew by 41%. The results reflect the confidence and great purchasing power of buyers in the luxury segment of the market, who are less dependent on financing and can cope with rising interest rates. Buyers in the luxury real estate sector are less sensitive to price increases than buyers in other segments and are guided more by confidence in their investments than by price and financial issues. Spain has an increasingly mature luxury real estate market and at the same time is a country capable of attracting new international buyers, thanks to its mild climate and quality of life. According to the report, the first half of 2023 has closed with around 13,000 luxury homes for sale published in Spain, with a price of more than 2 million euros. These represent 2% of the total supply of 650,000 homes on the market. The supply of luxury homes is highly concentrated in a few regions, with 97% of the supply spread across only 5 of the 50 provinces. The province of Malaga, with Marbella in the lead, has the largest supply of luxury homes for sale with 4,416, closely followed by the Balearic Islands with 4,327, Barcelona with 1,304 luxury homes and Madrid with 1,230. The most prominent areas of Barcelona continue to be the neighborhood of Pedralbes, Sarria-Sant Gervasi and Eixample Centro in the City of Barcelona, followed by the towns of Sant Andreu de Llavaneres, Sitges, Castelldefels, Gavá Mar, Matadepera, Cabrera de Mar, Alella , Esplugues de Llobregat and San Cugat. Regarding the origin of buyers of luxury apartments, the majority are from the European Union, although there is also a notable presence of investors from the United Kingdom, America and Asia. Barcelona brings together a unique combination of factors that make it attractive to the luxury real estate market. Its location, climate, culture, architectural design, investment programs and quality of life make it a desired destination for both investors and buyers of luxury properties, which has driven solid growth in this sector. GEINBAR offers a personalized service for buyers from outside the European Union, with a specialized team focused on securing the best possible property for clients looking to benefit from the Golden Visa programme.

The luxury real estate market in Barcelona remains a solid driving force compared to the rest of the real estate market. This prime segment has recorded year-on-year growth of 10% in the first half of 2023. - The growth of transactions in this segment is concentrated in four towns: Barcelona, Castelldefels, San Cugat and Sitges. - The average price of high-end home sales has increased by 40% and the value of these sales by 50%. Buyers of luxury homes in Barcelona come mainly from countries in the European Union, but clients also come from other parts of the European continent, such as the United Kingdom, North America and Asia. Barcelona also has an increasingly stable local luxury market, and at the same time it is an area capable of attracting new buyers from all over the world, thanks to its mild climate and quality of life. Spain, an increasingly attractive international luxury market to invest in The first half of 2023 has closed with some 13,300 luxury homes for sale published in Spain, with a price of 2 million euros or more. These represent 2% of the total supply of 650,000 homes on the market. The supply of luxury homes is highly concentrated in a few areas, with 90% of the supply distributed in only 7 of the 50 provinces, highlighting Barcelona, Madrid, Malaga and the Balearic Islands. These results reflect the confidence and great purchasing power of buyers in the luxury segment of the market, both national and international, who depend less on financing and who can cope with the increasing interest rates we currently have. Buyers in the luxury sector are also less sensitive to price increases than buyers in other segments, due to their economic stability and are guided more by confidence in their investments than by price. The luxury real estate market in Barcelona is experiencing solid growth for a number of reasons that make it attractive to both national and international buyers. Some of the key factors that explain this growth are: Strategic location: Barcelona is located in a strategic location on the Mediterranean coast, making it an access point to Europe from other parts of the world. This attracts international investors and buyers looking for an investment in a well-connected city. Attractive climate: Barcelona's Mediterranean climate with mild winters and warm summers is a strong attraction for those looking for a second residence in a pleasant environment. Cultural and leisure offer: Barcelona is known for its rich cultural life, with a wide range of museums, theatres, festivals and cultural events. Additionally, the city offers exciting nightlife, high-quality restaurants and luxury shopping. Architecture and design: The city is home to impressive architecture, including masterpieces by Antoni Gaudí. This attracts buyers who appreciate architectural beauty and innovative design. Investment programs: Spain has implemented investment programs, such as the "Golden Visa", which grant residency to foreigners who invest in properties for a specific value. This has attracted international investors interested in establishing themselves in Europe. Political stability and security: Spain is known for its political stability and security, which provides confidence to international investors. Quality of life: Barcelona offers a high quality of life, with excellent medical care, quality education and public services. Furthermore, the city is known for its relaxed and healthy lifestyle. Tourist demand: Barcelona is a popular tourist destination, which means that investors can benefit from short-term rentals, such as vacation rentals, making the properties attractive from an investment point of view. In summary, Barcelona brings together a unique combination of factors that make it attractive to the luxury real estate market. Its location, climate, culture, architectural design, investment programs and quality of life make it a desired destination for both investors and buyers of luxury properties, which has driven solid growth in this sector. GEINBAR offers a personalized service for buyers from outside the European Union, with a specialized team focused on securing the best possible property for clients looking to benefit from the Golden Visa programme.