The rental market in Barcelona could become one of the greatest pillars of the recovery of the real estate sector. Factors such as the high profitability offered to the owner (around 5% annually), the change in the traditional conception of the disadvantages of renting and the tourist boom in the city, have favoured rental perspectives in the Catalan capital.
Along these lines, Engel & Völkers began 2014 with about 170 properties and at present have a portfolio of products close to 500, act which has caused a considerable increase in requests for visits.
The average price per square metre has continued almost totally stable in 2014. The larger properties, from 120sq.m upwards, nevertheless, have experimented an increase in sales of 2.5% approximately. The average rental price in Barcelona is 13,12 euros/ sqm for properties of 50mts, and 10,22 euros/sqm in properties of up to 120 mts and 9 euros/sqm in properties of over 120 sqm. Yet, in areas such as Paseo Gracia or neighbouring streets, central areas and those with a high tourist potential and specific areas in the more exclusive Upper Part in Barcelona, they can easily exceed 20 euros /sqm.