Renting in Barcelona city, booming!

In Barcelona, more than a third of homes are rented. No wonder: thanks to its exciting mix of modern architecture and history, its good climate and lifestyle, it has become one of the most popular places to live and do business in Europe

modern architecture and history, its good climate and lifestyle, it has become one of the most popular places to live and work in Europe.

Spain has traditionally been a country of homeowners. And it still is, albeit less and less so. In the last decade, according to Eurostat, the percentage of the population living in rented accommodation has increased by 4.7 points nationwide, approaching 25%. Large cities such as Barcelona, Madrid and Valencia far exceed this average, which, in the case of Barcelona, stands at 38% of the total number of homes. The question arises as to whether there is a change of mentality behind this approach to the figures of our European neighbours - still a long way off, by the way. It is true that in these times, in an environment of high inflation and expensive mortgages, certain groups, especially young people, are finding it difficult to buy a property and customers who wanted to buy are postponing their decision due to the rise in interest rates.

But there are also other factors behind the rise in renting. Socio-cultural changes find in this option a flexibility in the face of the new needs and priorities of modern society. In the case of young people, this translates into greater accessibility to labour supply and a global network of opportunities. So much so that, attracted by the many attractions Barcelona has to offer, the Catalan capital has become a magnet for so-called digital nomads. Moreover, the international client, who last year accounted for 70% of Engel & Völkers' rental operations in Barcelona, is coming back stronger than ever. With an average price of €20.92 per square metre, Barcelona continues to be a city that offers very competitive prices compared to other European cities, far from the top 10 most expensive capitals and with the highest year-on-year increases. The type of property most sought-after by tenants in Barcelona is a 100 square metre flat with two bedrooms located in central areas of the city, specifically in the Eixample district.