In this 2024 we have already reached the end of the first semester and in the region of Barcelona the real estate market has increased some important changes mainly by the new rental law that now includes also seasonal rental.

It is interesting to note that in Barcelona Capital the sales prices published with respect to April 2023 have risen in all locations between 2% in Horta Guinardó and more than 11% in Eixample and Sant Marti.

The only area where it has dropped 2% is Nou Barris

The Real Estate Sensitivity Survey (ESI) of idealist, the real estate marketplace of southern Europe, has agency forecasts for the markets of buying and renting homes for the second quarter of 2024. The sales index climbs more than 10 points from the previous period and reaches 68 points, its best rating since the end of 2018. It is the largest quarterly increase since the ESI was elaborated at the beginning of that year, surpassing the 9.8 rise points of the 2T 2023. The spring of the last two years has meant an increase in the confidence of real estate.

The consensus of the companies in the real estate sector for this 2024 highlights that house prices will continue to rise in Spain, although at a slower pace than in previous years, while they expect the purchases to remain in the 2023 line, with a slight downturn in operations.

After registering an increase in sales and mortgage signing at the beginning of the year, data from notaries show a fall in operations in March of 13.7%. This decrease in the third month has meant that in the accumulated of the year have registered just over 158,000 transactions, just 0.3% less in the first quarter of 2024, compared to the same period of the previous year.

That is indicative ,especially if you want to sell a home in a time less than 6 months, and it must be considered that the tendency to a lower number of trades could further delay the sale in the event that the sale price is excessively high and follow the current trend.

It should also be noted as the decree law of April 25, 2024 with the limitation of price in the rentals use different habitual housing and the future , although we do not know when, cancellation of the Golden Visa will not help the market of investors and limit , And partly according to us, the lawsuit.

Therefore who wants to sell a flat and needs to sell it in less than 6 months we believe have to take into account this situation that according to us will continue in the second half of 2024 even if the probable , but not yet certain, lower interest rates of the European Central Bank could cool the cost of mortgages and increase local demand, especially if it is a first home because the rental market is destined to reduce , at least in the short term, the offer to be «less attractive» for owners in Barcelona, despite some tax bonuses up to 90%

If you have any questions or would like a valuation of your home you can contact us through our website www.inversionesbcn.com or visit our office in Calle Tuset 16 Local 8 in Barcelona.

InversionesBCN