For decades, Barcelona has attracted tourists, entrepreneurs, corporations and real estate investors. Yet the reasons to buy a property in the Spanish city keep multiplying. Here are the top five for 2020:
• The city is now one of the world’s favourite travel locations. According to Tripadvisor, Barcelona places in the global top five, alongside London, New York, Paris and Rome. A constant stream of visitors makes it easy and lucrative to let a property.
• Barcelona is among the first ‘smart’ cities in Europe, with fantastic internet speed and connectivity, high security and innovative services. Booming tech businesses mean great employment opportunities and a thriving local economy.
• Foreign investment is soaring. More than 5,000 overseas companies have offices in Barcelona. In the past year, more than 100 major business projects launched in the city, almost half of the Spanish total for 2019. Barcelona welcomes investors.
• Interest rates are low and are expected to remain low in the medium term. Savings rates are also low, but through investing in property you can achieve higher yields. The Central Bank of Spain forecasts a 10.5 per cent return on residential properties for 2020.
• With 2,400 hours of sunshine per year, 4km of local beaches, world-class restaurants and a host of cultural attractions, Barcelona has one of the best standards of living in the world. It also boasts excellent transport connections by road, rail, sea and air.
GRE Assets has major residential projects in Barcelona