The resale price of existing homes in Barcelona was the highest in Spain during the first half of the year, reaching €3,851 per square metre, according to a report by estate agents Tecnocasa and Pompeu Fabra University.
This represents a 16.3% increase compared to the first six months of 2024 and puts the city ahead of Madrid, where the price stood at €3,576 per square metre.
Across Spain, housing prices have also risen by 16.3%, reaching €3,025 per square metre, the biggest increase since 2006.
The report found that demand has grown by 32% and supply has dropped by 15.6%, making it a good time to sell.
Blocks of flats in Barcelona’s Sants neighborhood / Laura Rodríguez
Sales of existing homes in Spain grew by 15.23% in the first quarter, reaching 167,865, according to figures from Spain’s housing ministry – the highest total since at least 2004.
Existing homes accounted for 91.2% of sales, compared to only 8.8% for new builds.
Mortgages
Barcelona also topped the list for mortgages, with an average mortgage of €184,955 in the first half of the year, a 17.6% year-on-year increase. The average mortgage in Spain was €151,244, up 17.3%.
The report found that the average buyer was a first-time buyer (72.6%) purchasing a home to live in, with 71.5% requiring a mortgage. New buyers are most commonly aged 35 to 44 (35.8%) and single (43.3%).
Investment buyers have fallen from 28.4% in 2023 to 22.7% today.
According to the report, in Barcelona alone, around 209,166 new homes will be needed by 2030.