Buying property in Barcelona
Buying a property in Barcelona is likely to make you very popular with family and friends. It’s a city that everyone wants to visit: exciting, musical, sporty, arty and with great food too.
Barcelona is the capital of Catalonia, on the north-eastern coast of Spain. It is also one of Catalonia’s four provinces.
The population of Barcelona city stands at 1.6 million while the wider province is home to 4.8 million people, making it Spain’s second largest city, after Madrid.
Not that Catalonians would ever admit that their city came second to Madrid in any way. The cities are fiercely competitive and many from Barcelona would like to call Catalonia a separate country entirely.
However, it remains Spanish, and one of the Spain’s most visited cities, with some 10 million tourists coming each year. Many of them stay, at least for a while, and Barcelona has become a ‘digital nomad’ hotspot.
Why buy property in Barcelona
The Catalonian capital is one of the most exciting cities in the world. It has donned the title of the “Best City on Earth” (The Telegraph, 2022) and “The Best Vegetarian City in the World” (The Guardian, 2017).
Locals, holidaymakers and international property buyers alike adore it for its cosmopolitan, cool atmosphere. For an urban environment it is especially green, with the highlight being the gorgeous Park Güell.
You are spoiled for choice with galleries, museums and UNESCO World Heritage sites. After endless sightseeing and shopping along the Portal del Angel or the more upscale Passeig de Gracia, you can sip cava at a bar or dance at a club into the small hours.
Architecturally the city is famous for the buildings and cathedral of Antonio Gaudí. The tradition of exciting and groundbreaking architecture continues, while the contrast between the Gothic and Gaudí architecture gives the city a distinct appearance.
Barcelona is incredibly walkable, but with an efficient bus and metro system too. And if it the city itself was not fabulous enough, it also has its own beautiful stretch of coastline on the Costa Dorada.
Barcelona has a reputation for being LGBTQI+ friendly. The city is very diverse. One in five residents are from overseas, and that number rises to 50% in the Old City. You’ll hear Catalan, Spanish, English and many other tongues in Barcelona. The cost of living is high in Barcelona, but it is a tad less expensive than Madrid.
Is property in Barcelona a good investment?
In Catalonia, purchase tax is levied at 10% for a resale property sold for under a million; over a million, it is levied at 11%. Catalonia has one of the highest purchase taxes out of Spain’s autonomous regions.
Plus, Barcelona’s property market has seen consistent growth, with all but one district seeing average price rises in 2023. Property in Barcelona is now just about the most expensive in Spain, averaging over €4,000 per square metre.
Moreover, when it comes to rental, Barcelona has become a victim of its own success as an AirBnb hotspot. The mayor has announced that the city is banning new tourist apartments by 2028. It will also scrap the licences of over 10,000 apartments approved as short-term rentals.
However, this is a global city, one of the greatest not just in Europe, but in the world, and an Olympic city not so long ago. A property investment here should be safe over the long term, at the very least, while offering all the lifestyle benefits.
Barcelona’s property market
In 2023, one in three property buyers in Barcelona city were from abroad. Overseas buyers also bought in the Barcelona province, but to a lesser extent.
For a small apartment in the heart of the city, you will need a budget of at least €250,000. There are options for less than this, but often they will not be well-located or require some renovating.
Barcelona has a thriving luxury property market. Discover penthouses with terraces that look out onto this beautiful city and renovated apartments in stunning historic buildings. It can be a little trickier to find houses and villas for sale in the city, but there are plenty of larger apartments for sale.
If you have a smaller budget or need a lot of space, then you may want to base your search outside of the city. Barcelona has fantastic public transport connections so your journey shouldn’t be too complex.
How to get to Barcelona
Barcelona is served by Barcelona-El Prat Airport. You can fly direct from all major population centres in Europe as well as several in the US, including New York, Chicago, Miami and LA.
The airport is a half an hour drive from Barcelona city centre, though you can take public transport. Plus, as an alternative to flying, there are good high-speed train routes to Barcelona from cities such as Paris.
Where to buy property in Barcelona
- El Raval: El Raval is transforming into a cultural and trendy area. With attractions like the MACBA (Museum of Contemporary Art) and CCCB (Contemporary Culture Center), it’s becoming a hotspot for younger professionals. It puts you within walking distance of the Gothic Quarter and Eixample.
- Poble Sec: A residential area that is not touristy, and yet, is just a ten-minute walk from Las Ramblas.
- Gràcia: Known for its bohemian vibe, Gràcia offers hidden art galleries, boutiques and cosy cafes. It’s a favourite among creatives and young professionals. It’s also home to Park Güell, which would make a truly exceptional local park.
- El Born: A trendy neighbourhood with narrow streets, El Born boasts historic architecture, the Picasso Museum, designer boutiques and great nightlife.
- Poblenou: With a new reputation for coolness, a tech hubbub, unique nightlife and the beach, Poblenou is an exciting place to buy.
- Eixample: A central district known for its grid layout and iconic architecture by Antoni Gaudí. A home here will undoubtedly put you at the heart of all that makes Barcelona wonderful.
If you’d rather look away from the city centre, and possibly get more for your budget, you may want to base your property search in the following areas: Zona Alta, Sant Cugat de Vallès and Rubí. Some buyers may want to look to the more affordable Catalonian city, Girona. While Sitges, a particularly gay-friendly seaside town, is growing in popularity with international buyers.
Steps to buy property in Barcelona
- Search online: The Your Overseas Home property portal has a great choice of listings in Barcelona. Determine what you can buy for your budget, as well as a list of features you would like in a home (penthouse, two-bedrooms).
- Form a team of experts. Once you have chosen a handful of properties that tick your boxes, reach out to an estate agent. They will be able to talk through the area and what you are looking for in a home in greater detail. You will also need an English-speaking lawyer to ensure that the purchase is legally secure. Plus, a currency specialist like Smart Currency Exchange can help you to transfer your funds over to Barcelona. You may also want to connect with a financial advisor and a mortgage specialist.
- Book a viewing trip. Once you have your team in place, head out to Barcelona to see your pick of properties. If you are looking at properties in the wider Barcelona province or even Sitges and Girona, check the journey times before you go so you will have time to fit them all in. Then, if you find a home that ticks your boxes reconnect with your professional team and make an offer.
- Once you have made an offer: If the seller accepts your offer, you will sign a reservation contract and pay a fee to take it off the market. While surveys are not the norm in Spain, many international buyers prefer to have one. Then, you will sign and pay the deposit, around 10% of the purchase price. As you’ve now committed to buying your dream Barcelona home, lock in your exchange rate to ensure that you do not lose out on thousands. Meanwhile, your lawyer will contact the notary to ensure the legality of the sale.
- Hold the keys in your hand: You will need to sign the sale contract, escritura pública at the notary’s office. Finally, pay the balance of the purchase price, minus the deposit you have paid. You must also pay the relevant taxes (ITP), stamp duty, notary fees and legal fees.