WRC News Letter - Prices Of Newly Built Homes Rises In Catalonia

Newly Built Home prices have risen by 14.4% in Catalonia in 2021 to €4,421 per square meter!

Property developers have now noted a “change in mentality” leading to increase in the single-family houses and open-plan kicthens.

The price of newly built housing in catalonia has increased by 14.4% in 2021, to €4.421 per square meter, according to a detailed report form of the Association of Promoters of Catalonia (APCE).

The group attributes the increase to the fact that there has been a “reactivation” of new construction throughout catalonia,with some areas experiencing unusually high growth.

In the Tarragona region, for example ,prices have now risen by 22.5%, to €2,421 per square meter. In Barcelona (province), they have now gone up by 15.3% to €4,872 per square meter.

Prices are now highest in Barcelona city, they are at €7,159 euros per square meter. up to 1.4% on 2020. The most expensive neighborhood in Bacelona city is Eixample - €10.230 on average - and the most affordable is Sant Andreu, at €5.149.

The actual price of new homes in the Catalan capital has fallen by 0.4%, as they were - on average - 1.7% smaller than the previous year.

• BEYOND BARCELONA

APCE president Xavier Vilajoana highlighted one “positive aspect” of price increases is that it reflects the new homes are being built beyond Barcelona. Vilajoana explained that in areas with low levels of sales in recent years , the base reference prices were “very low” , so more new builds have meant big increases in the averageprice per square meter in 2021.

“The figures could lead to erroneous conclusions if you don’t analyze where they come from, “ he warned.

In Leida the average price per usable sqaure meter by 2%, to €2.181, while in Girona the increase was 8.8% to €3.721.

Vilajoana said that the price increases have been “normal”, taking into account construction costs and infaltion.

SUPPLY OF SINGLE - FAMILY HOMES DOUBLES

The study from APCE also Showed that the supply of single-family homes has infact doubled over the past year. In 2020 such houses - as opposed to, for example, a shared block of apartments - made up 4% of new builds, while in 2021 the figure rose to almost 8%

Vilajoana puts the increase down to a “Change in mentality” following the pandemic, with people “looking for more open space.” and predicted that the trend will continue in 2022.

Similarly, the number of new homes with a communal pool was almost 50%, while 37% had garden areas , something not always associated with the dense housing found in many pats of catalonia.

Another trend noted by vilajoana was for open-plan kitchen and dining areas, a design once so foregin that it is refered to as an “American Kitchen“ (cuina americana) in Catalan.

“A few years ago, it was totally unthinkable that open plan kicthens would be so common in homes that are on the market, “ the APCE president said.

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