Renting a flat in Barcelona is still one of the best options for property seekers in the city. This obviously means that the current rental prices are one of their main concerns. This is why we at Engel & Völkers, the leading luxury estate agency in the Catalan capital, want to tell you about the evolution of rental prices.
Growth will continue although more moderate than before
Once the hardest phase of the economic crisis that devastated Barcelona and the rest of the cities was overcome, the prices of rental properties in Ciudad Condal grew at an absolutely spectacular rate. However, at this time, there is a tendency towards moderation. Although the prices keep going up, their growth rate is within an acceptable pace.
We must bear in mind that the maximum rent prices recorded in the year 2007, which were considered the last increase before the economic downturn, have already been exceeded. This is due to the fact that quality of rentals have improved in terms of value for money.
Political instability works in the favour of the rental market
It can not be denied that in recent months, Barcelona and the entire Catalonia have been facing political instability that has affected the economy as a whole and especially the housing market. This factor has encouraged national customers to opt for renting before buying because this way, they do not have to commit a property in the long term.
However, despite the fact that national customers have been postponing their purchase decision, the international customers, on the other hand, continue to choose Barcelona as their place of residence. This means that the property rental offer is maintained and that prices continue to rise at a good pace. In fact, the buying and selling market is currently the main player in this industry.
The difference between the centre and the province
The lack of affordable rentals is another huge problem that Barcelona has been facing. In fact, this is the main reason that has led people to search for a house in the city province, while the international client has a greater purchasing power and usually stays within the historic centre.
At this critical moment, Engel & Völkers, the leading estate agency in the luxury sector within Barcelona and its surroundings, continues to pave its way into the Barcelona rental market. In fact, we currently have a large volume of properties available for rent. You just have to contact us to check them out.