Catalonia’s Real Estate Market: New Records and Alarming Trends
In 2025, the housing market in Catalonia is causing concern among experts. After several years of steady price growth, analysts note that the price per square meter in the region is significantly above long-term benchmarks. The problem is particularly acute in Barcelona and its suburbs, where demand consistently outstrips supply.
Housing Shortage and Its Impact on Prices
In recent years, Barcelona province has seen a significant shortage of new properties. According to specialists, from 2021 to 2024, more than 72,000 apartments and houses were lacking in the Catalan capital—over half of the region’s total housing deficit. This shortage continues to push prices up, and experts believe that without a major increase in construction, this trend is unlikely to slow down.
Luxury Segment: Foreign Demand and Record Prices
The sharpest rise in property values is seen in Barcelona’s premium districts—Pedralbes, Sarrià, Eixample—as well as in the coastal towns of Sitges and Castelldefels. Homes here are often purchased by foreigners, mainly from France, the UK, Germany, and the United States. Over the past five years, the average price in this segment has grown by nearly a third. In some areas, new builds now cost over €8,000 per square meter, while exclusive properties can reach €12,000 per square. Coastal homes often sell for several million euros.
Middle class: rising prices and declining affordability
The housing segment for families and the middle class is also under pressure. In Barcelona’s satellite towns such as Cornellà, Sant Joan Despí, Santa Coloma, and Terrassa, real estate prices have risen significantly. Many local residents are forced to look for options outside the capital, but even there, prices keep climbing. Access to mortgages is decreasing, and without family support, buying a home is becoming increasingly difficult.
Three levels of stress: from the center to the outskirts
Experts identify three types of areas with varying degrees of market tension. In central Barcelona and its immediate suburbs, the price per square meter exceeds €4,000, and in prestigious neighborhoods it goes over €6,500. Even in traditionally affordable districts like Nou Barris, annual price increases have surpassed 16%. In second-tier cities and provincial capitals, such as L’Hospitalet de Llobregat, Badalona, Girona, and Tarragona, prices continue to rise, though not as rapidly. Housing costs are also increasing in rural areas and smaller towns of Catalonia, though less noticeably.
Overall market pressure: new and resale properties
The trend affects both new builds and resale properties. Over the past year, the price of new apartments has increased by 12%, while resale properties have risen by 11.6%. Experts believe that stabilization is possible only with comprehensive measures: it is necessary to speed up the permitting process and increase construction volumes. Without these steps, market tension will persist and prices will continue to rise.
