Buying Property in Ciutat Vella

Real Estate Investment in Barcelona District 1

If you are think of investing in Barcelona Real Estate, it is quite probable that you are considering buying property in Ciutat Vella.

This is not surprising as Ciutat Vella is Barcelona's Historic Old City and the area where foreign tourists are likely to spend most of their time so if you've visited the Catalan capital before this is the area you probably know best.

Ciutat Vella is not only an excellent area to buy a flat as a permanent residence or family holiday home but from an investor's point of view, property in Ciutat Vella is always going to be in demand as a short-term or tourist rental.

You should be aware, though, that the City Council - Ajuntament de Barcelona - is not currently giving out new licences for tourist rentals so unless you buy a property that already has a license renting out to tourists without a license, although common practice, is technically illegal.

However, apartment rentals for periods of a month or longer are not considered tourist rentals but rather short-term rentals and you will find a continual flow of foreigners and locals, who are in Barcelona for business or pleasure, to whom the idea of a flat in the historic centre is extremely attractive.

Most Estate Agents also handle rentals for a small commission.

If you want to find out more about buying property in Ciutat Vella, don't hesitate to Get in touch via the Contact Form.





Current Property Prices in Ciutat Vella

Although properties range from small flats costing less than €120,000 to luxurious apartments and duplex topping the million euro mark, I would say that for an apartment of around 70 m2 with two bedrooms you should looking at around €230,000+.

The graphic above shows the change in price per square metre of real estate in Ciutat Vella by neighbourhood between January 2016 and January 2017.

Since hitting a peak of €4,758 per m2 in 2007 prices fell considerably but have been rising for about a couple of years so now is still a good time to invest in property in Ciutat Vella because prices are likely to rise more quickly as Spain moves out of the economic crisis.

The cost of property in Ciutat Vella currently stands at €4,191/m2, which is higher than the €3,879 for Barcelona as a whole partly because of the interest of foreign investors in buying in the area.

I find that of particular interest to the foreign buyer are the current spate of complete refurbishments of old buildings, which maintain the traditional Barcelona aesthetic but offer all modern conveniences and are an ideal solution for someone who wants to be right in Barcelona City Centre.

I tend to update my Barcelona district property pages relatively regularly (famous last words) but if you want to see the latest property trends in Ciutat Vella, Please Click Here to Visit Internet Property Portal Habitaclia, where prices are updated every month.



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