Rental price secrets revealed about the Barcelona real estate market!
Greetings, SuiteLife gang.
This week I decided to get you involved in some of the Barcelona real estate secrets about renting properties. Don’t worry, it won’t be about boring spread sheets, stats and numbers (well, maybe just a little), but rather useful information about what to expect about a property you might be interested in when you see something like this: “12€/m2″.
I do understand how tedious apartment-hunting is (been there, done that), but the worst part is when you find yourself torn between a couple of flats and simply cannot find the strength in you to pick one. So guys, let me try and make your life a bit easier with this insider blog I’ve put together, so you can pick the right apartment in Barcelona that will bring you the most value for your money.
So as you may or may not know, rental properties in Spain are often priced per square meter (for our American readers, 1m2 is the equivalent of 10 square feet). So my previous example – “12€/m2″, would mean that if your desired property is 60m2 your monthly rent will come up to 720€ (60×12). Easy math, simple enough. However, there is more to this three-digit number than just indicating the price. There are different price categories, concerning the Barcelona real estate market, that are tightly connected to the area in which the property is situated, its surroundings, proximity to popular attractions and sites and its overall state and classification. Whether an apartment is categorized as a luxury accommodation or not you can often find out from its price per square meter. If you know the average prices per square metre in a neighbourhood, it’s a great way to assess and compare the properties you are looking at possibly renting. So gang, if you want to become an expert in properly judging a property on first glance, I suggest you read along.
In order to estimate a property’s features we need to be aware of some key facts about the Barcelona real estate market. So as you can image Barcelona has the one of the highest average rent prices per square meter in the whole of Spain (9.50€ to be exact). Also Barcelona is one of the top five cities in Spain to have a relatively high annual increase on rental prices. Real estate market research estimates an annual rise of 7.3%. Simply put, prices always change and more often than not they rise than drop. So take that into account. Although you probably see the newspapers talking about how bad the economy is here, Barcelona is very special and is simply not representative of Spain as a whole. In order to make an educated choice we should always check the current prices of the market. If you are still reading and finding this blog useful, then I bet you’ll find our free E-book on Apartment hunting in Barcelona priceless. Now that you are informed let’s get to the good stuff.
General breakdown of rental prices in Barcelona
Back to basics
10€/m2. What you see here, my people, is one of the better offers you have stumbled upon while looking for apartments. What I would suggest is that if you are looking for a descent apartment without any delusional expectations for something ‘out of this world’ stick to this price range. In terms of good quality accommodation, anything close to or less than 10€/m2 is considered below market value. When it comes to location, don’t raise your hopes you too much. I’m not saying the apartment will be in the outskirts of the city but I’m not saying it will be right in the middle of Plaza Catalunya either. The hot spots in Barcelona might be a couple of metro stops away, but hey, as one of my favorite sayings go: ‘There is no full happiness’. With that said, you could find something at that price that is super central, and maybe not in the best condition. Everything is always relative and comparative so you must take these prices per square meters as a guideline.
Location, location, location…
10€/m2 – 14€/m2. An apartment which falls into this price range, guys, you should consider well priced. These properties are usually well located in one of the most popular neighborhoods in Barcelona. This price range is the most common for descent, well-furnished accommodations and if you are financially conscious but don’t make excuses when it comes to living a good lifestyle, you have just found your ideal apartment. . Here are the price ranges for the most popular and preferred neighborhoods in the city:
Cuitat Vella – 12.75 €/m2
Eixample – 11.84 €/m2
Gracia – 10.61 €/m2
Les Corts – 11.99 €/m2
Sant Marti – 11.33 €/m2
Sarria – Sant Gervasi – 12.74 €/m2
As you can see, apartments ranging from 10€/m2 – 14€/m2 are highly likely they’ll be located in one of the best areas Barcelona has to offer. If you are considering to enter into one of these properties what you should expect is great views, walking distances to Barcelona’s main hot spots and neighborhoods full of life. Don’t forget to check out our popular post on the 5 top neighbourhoods in Barcelona.
Luxury straight ahead.
15 €/m2 and above. Unless of the odd chance that properties might not be well-priced in accordance with the market state, prepare yourselves to witness luxury at its finest. Properties that are priced at 15 € or above per square meter are the definition of luxury. Do you remember when I said ‘There is no full happiness’? Scratch that. These apartments have a feature or a combination of several features that make them more expensive but totally worth it. Excellent quality, extremely well-furnished or situated in the most perfect locations possible is what one of the finer properties the Barcelona real estate market can offer you. If you are not concerned about your budget and indulge in a luxury lifestyle, I would highly advise you to invest your time and money into these gems of the real estate market. However, if the flat seems to be, for all intents and purposes, ‘normal’, and the price is at 15 € / m2 or above, this is a great signal that the flat is too expensive and is not priced properly in accordance to the market. This is good to keep in mind in order to weed out expensive options.
The bottom line here, my peeps, is that if you are paying 15 €/m2 a month or more, there is, or there should be something very special about your apartment.
That was all from me for this week, gang. I hope you found this information useful and that now you know what to expect when you’re on the hunt for apartments in Barcelona. And if you feel exceptionally generous today, why not leave us a comment down below? I thank you in advance.
We all have different budgets for sure, but using this general guideline and comparing apartments in Barcelona based on their price per square meter will give you the best idea about how much value you are getting and will also allow you to do proper comparisons across the different neighbourhoods.
If you’re looking to rent a mid or long term apartment in Barcelona please check out our flats for rent, or you can contact us any time and we’d be more than happy to help you as we are experts. We’d also love to hear your feedback or questions below in the comments!