Barcelona property sales increase by 73%

The number of property sales made in Barcelona by Lucas Fox International Properties increased by 73% last year when compared with 2015.

The firm also reports that sales transactions of luxury homes across the whole of Spain increased by 31% during the same period.

It says two of the most sought-after areas last year were Eixample in Barcelona and Chamberi in Madrid.

The total value of new build properties sold by Lucas Fox last year reached €150 million with an average price of €720,000.

The company expects that these 'turnkey homes' will continue to drive the Spanish housing market throughout 2017, particularly in the Catalan capital where demand is very high.

Looking ahead to the next 12 months, Alexander Vaughan, co-founder of Lucas Fox, says a growing economy coupled with low financing costs will continue to drive sales throughout 2017.

"This upward trend is not limited only to new build homes, sales of second-hand properties will continue growing in 2017, fuelled by the return of mortgage credit and low interest rates," he says. 

Rod Jameison, head of operations at the agency, adds: “This year we foresee the release of approximately 1,000 new build properties in Barcelona, with an estimated value of 400 million Euros."

"In the case of Madrid, we expect a higher volume of transactions for investment purposes as well as for the Golden Visa."

"As a result, prices will continue to rise steadily, although they are still between 20% and 30% below the peak of 2008.”

The firm says that despite Brexit and the falling pound, it expects British buyers - who currently account for a fifth of total market share - to remain the most active foreign purchasers in 2017.

Moreover, increased interest from US and Middle East buyers is expected to continue throughout 2017. 

Visits to the Lucas Fox website from the United States increased by 44% during the first three weeks of 2017, compared with the same period last year.