The house price increases spread to the outskirts of the city, such as Vallès and Baix Llobregat
Engel & Völkers has increased its market share by 18% in Barcelona, expanded its office space by 60%, and increased its number of estate agents as well as the properties in its portfolio by more than 30%
Engel & Völkers returns to the 2018 BMP as a leading sponsor
Barcelona, October 23rd, 2018. The price of property in the prime areas of Barcelona has reached sky high. The continuous upward race of the last four years together with the political uncertainty generated after the 1-O referendum have exhausted the increase margin in the most sought-after areas of Barcelona and as a result, the price increase has spread to peripheral areas, such as Vallès and Baix Llobregat, which are in high demand among the national buyer.
"Premium areas always set the trend and contribute to the first price increases in the real estate market," explains Oriol Canal, CEO of Engel & Völkers in Barcelona. "When there is no more room to maneuver, the increase in prices shifts to neighbourhoods or municipalities on the outskirts of large cities," adds Canal.
According to the data of the property sales that were brokered by Engel & Völkers in the first nine months of the year, the average price in Vallès Occidental has increased by 16% and reached 569,000 euros, while in Baix Llobregat it has grown by 8%, up to 475,000 euros. In both cases, the average period from when the property was put on the market until its actual sale ranges between seven and eight months.