If you are thinking of buying property in the Catalan capital, it is important to have a good grasp of recent Barcelona Property Trends so you can decide whether it is a good moment to invest or not.
The city of Barcelona saw overall property prices rise by 14.4% in 2016 leaving the average price at €3,879 per square metre, which puts the growth in the Catalan capital well ahead of other Spanish cities.
However, it is worth bearing in mind that since the cost of property in Barcelona reached its maximum of €4,888 per square metre in the first quarter of 2007, the overall fall in prices has been considerable.
Furthermore, you should also take note that Barcelona property trends are not homogenous from district to district with certain neighbourhoods going up in price more than others in 2016.
The graphics below should give a clear view of recent global trends and also offer a clearer idea of variations in different areas.
The graphic above shows Barcelona property trends since the early party of the decade.
Since hitting a peak of €4,888 per square metre in the first quarter of 2007, property prices fell steadily over the next few years reaching an accumulated decrease of 34.9%.
As you can see from the last section of the graphic, Barcelona property prices reached their absolute minimum in 2012 and then began levelling out before clearly increasing from 2015 onwards..
Here you can see the variations in apartment prices with massive inflation in the early part of the decade.
Recent statistics show a definite decrease and please note that property prices have appeared to be rallying before but have returned to their downward spiral.
Although this may happen again, general economic indicators in Spain suggest that the worst of the crisis is over so the cost of property is expected to remain in an upward cycle over the coming years.
This graphic shows the variation in prices in each of Barcelona's ten districts with figures from December 2015, September 2016 and December 2016 with the annual and quarter variations.
Tourism may also have kept prices up throughout the rest of the city but the effects of the economic recovery are beginning to show as more domestic Catalan and Spanish buyers enter the market again.
This is definitely the case in Sarrià-Sant Gervasi (10.3%) and Les Corts (12.2%), which are traditionally middle-class professional districts that firstly were least hit by unemployment and are now recovering more quickly than other areas.
This growth is even now reaching to working-class districts, such as Sant Andreu (6%), Nou Barris (9.5%), where recovery has been slower and the economic crisis and unemployment hit particularly hard.