The price of housing in Catalonia increased by 1.72% compared to 2021, with an average price of €2,542/m2 in July, which represents -0.15% compared to June 2022. Barcelona was the second capital of most expensive province in Spain with €4,343/m2 in July 2022.
 
Evolution of housing prices in Barcelona July 2022
 
The real estate market is going to experience changes due to the recent rise of 0.50% in official rates operated by the European Central Bank. The agency's decision, aimed at placating the push of inflation, will result in higher financing costs. As mortgages are not as cheap as before, it is possible that buyers contain their enthusiasm for buying a home, delaying their decision in order to increase their previous savings so that, in this way, the amount borrowed is smaller.
 
Deep corrections are not going to take place, rather we will see a cooling in the upward trajectory. The distance between supply and demand is going to narrow, without sudden contractions, but with a product for sale that is more adjusted to economic reality. This slowdown will pass by stressed locations and consolidated and scarce typologies.