Capitalising on the upswing in demand for Spanish property and the consistent popularity of Barcelona, GRE Assets has announced its first project outside the UK: a stunning 20-apartment development in the city’s financial district.
A short walk from the tourist and shopping districts of Las Ramblas and Diagonal, the new ‘Morales’ development contains units ranging from one-bed to four-bed apartments together with swimming pool and full services.
“We noticed a gap in the market for good, well-furnished apartments for mid-income buyers and tenants,” said Michael El-Kassir at GRE Assets. “The financial district of Barcelona has become more fashionable and desirable: all the big four consultancy firms and the major law firms are there.”
Property prices in the best parts of Barcelona remain around half of the equivalent in London or Paris. This has attracted a growing number of international investors, led by the British, who make up around 25 per cent of non-Spanish buyers, according to agents in the city.
The financial district of Les Corts is close to Diagonal – one of Barcelona’s main streets – with its excellent shopping amenities and proximity to Plaça Espanya, one of the grandest squares in the city.
Construction work on GRE’s Barcelona development is on schedule, with completion expected in the third quarter of 2017.