In Barcelona, the rental market has been positioned as one of the main engines of the expected economic recovery. This has been contributed by different factors that have affected real estate in Barcelona, such as a more flexible market, made possible by different legislative changes in terms of employment contracts, changes in mentality and a better profitability for owners.
Buying and renting in Barcelona
Although the market for buying and selling has better prospects, the rental sector will continue to rise, both from the tenants' and investors' point of view.
For a good number of people, purchasing a house is still difficult, and for this reason, they have to continue opting to rent flats in Barcelona. But it is not just the economic factor as renting also provides the flexibility and freedom that many people seek.
At present, according to market research carried out by Engel & Völkers Barcelona, the average profile of the tenant looking to rent a house in Barcelona has been modified. As well as the typical profile of the student or the young worker with a tight budget, there are also executives and employees, who choose a less compromised solution over buying.
With regard to investors, the strategy of buying a home in a sought-after area of a city and then renting it out offers significant returns, higher than other investment assets. This has not happened for years, since the well-known real estate boom, which on the other hand many considered it as one of the main causes of the crisis.