According to data from CBRE, the real estate market in Barcelona has closed the first half of the year with an investment volume of 1,143 million euros. This figure represents a 34% decrease compared to the same period in 2022, but it is still 9% higher than the average recorded in the last five years.
The decline in investment in Barcelona is much lower than the year-on-year drop seen across Europe, which reached 56%, with a total of 74.3 billion euros transacted. This trend is widespread, with most markets experiencing declines ranging from 40% to 70%. The Nordic countries and Italy have seen the largest decreases in investment, with 65%, followed by Germany and the Netherlands (-63% and -60%) and France and the United Kingdom (-52% and -49%). In Spain, the investment volumes have decreased by 47% compared to the figures from the same period last year.
«The strength of Barcelona’s fundamentals has allowed the Catalan market to experience a less pronounced decline than most European cities. The stabilization of financial markets and inflation control will lead to a reentry of capital in the coming months. However, it is possible that a significant portion of transactions will be consolidated in 2024,» said Xavier Güell, Head of CBRE Barcelona.
The hotel segment has led the investment with 462 million euros, doubling the figure recorded until June 2022 and increasing by 54% compared to the average of the last three years (299 million euros). The major transactions in this semester were the purchase of the Mandarin Oriental Barcelona and the Hotel Sofia Barcelona, with a combined value of approximately 380 million euros.
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