New houses and developments in Barcelona

New developments in Barcelona

The province of Barcelona currently has more than 500 new development projects in the metropolitan area of Barcelona, a quarter of which are centered in the city of Barcelona. The areas of Baix Llobregat, Vallés, and Maresme follow closely behind. According to the latest report from the Association of Promoters of Catalonia, the average price of new construction is around €4,800/m2. The highest prices are found in the city of Barcelona itself, where prices can reach up to €7,000/m2. On the other hand, the lowest prices are found in towns such as Manresa, where the price per square meter is around €1,200. Vilanova i la Geltrú follows with prices starting at €2,000/m2.

Which municipalities have the highest percentage of new construction homes?

Together, the regions of Baix Llobregat, Garraf, Maresme and the Barcelona area account for half of the supply in the province. Within these regions, the municipalities with the most developments are Sitges, Sant Andreu de Llavaneres, Sant Vicenç de Montalt, El Masnou, Castelldefels, Mataró and Arenys del Mar.

Which coastal locations have the highest volume of new developments?

The most prominent ones in the coastal area are located in the municipalities of Badalona, Sant Adrià de Besòs, Mataró, Montgat, Arenys de Mar, Viladecans, Castelldefels, Vilanova i la Geltrú and Sitges.

What factors influence the final price of new properties in the province of Barcelona?

In general terms, the price per square meter of a new construction property in the province of Barcelona depends on the state of the market, that is, the relationship between supply and demand. According to the Study of the 'Offer of New Construction Housing in Catalonia', conducted annually by the Associació de Promotors de Catalunya, it is estimated that the average surface area of new properties in the province of Barcelona is the smallest in Catalonia (86.1 square meters) and they have the highest prices in absolute terms (€361,949) and per usable square meter (€4,226).

Taking into account this study, location plays a key role since buyers prefer to live in coastal towns near Barcelona, but with easy access to it, either by road or train. Other factors that influence the price are the size of the property, the materials used in its construction, the orientation, and the common facilities or services associated with the property.

What is the current situation of the new-build market in the province of Barcelona?

In 2021, new projects had decreased by around 14% compared to 2020. In Barcelona city, the number of available homes at the end of 2021 represented a 12% decrease in new housing stock compared to the previous year, which means a change in the upward trend observed in the census since 2014. These results indicated that, in 2021, at that rate of absorption of housing stock, the supply of new housing in the province of Barcelona would be exhausted in 13 months, and in 16 months in the city. In both cases, this period of time has been shortened, as in 2020 the time was estimated to be over 18 months. This was reported by the latest census of new housing in Barcelona prepared by Sociedad de Tasación.

However, the stock of completed homes has increased, rising from 10% to 15% in municipalities and from 16% to 28% in the capital, indicating that demand is not absorbing the product that is being released onto the market. Moreover, the number of homes that have not yet been started is more abundant in the municipalities, where it has increased by over 11% to reach 36% of the total new construction market. In contrast, in the city of Barcelona, it has decreased.

What is the importance of buying new apartments compared to second-hand homes in the province of Barcelona?

According to recent studies, property owners justify their decision to buy new homes in the province of Barcelona due to the climate and location, as well as considering it one of Spain's main economic engines.

Other factors such as quality, which is always superior to second-hand homes, and energy efficiency, which results in greater savings in consumption, are also highly regarded. Another advantage of these buildings, which are currently being developed on the outskirts of Barcelona city, is that they offer more open spaces and green areas.

Where to buy new developments in the province of Barcelona?

The province of Barcelona has the highest number of new homes on the Mediterranean coast. Most of the developments are located along the coastline, specifically in the region of Maresme. The main municipalities offering this type of housing are Sant Andreu de Llavaneres, a summer and residential area with an exclusive character, San Vicente del Montalt, Pineda del Mar, El Masnou, and Mataró, the capital of Maresme. The average prices in this region are around €2,700 per square meter, and vertical constructions such as ground floor apartments, penthouses, and duplexes predominate. The only exception is San Vicente del Montalt, which has the highest supply of independent homes in the entire region, with sales prices averaging around €3,700,000.

The Barcelonés region follows, with Badalona and Hospitalet as the main localities promoting new construction housing. The offer is concentrated in vertical buildings, with prices ranging from €150,000 for a studio apartment to €580,000 for a penthouse.

In the Vallès region, Terrassa and Sabadell are the main localities offering new properties, mainly apartments, with prices ranging from €140,000 to €460,000. Sabadell also has new construction promotions for independent homes in the form of 5-bedroom townhouses starting at €810,000.

The municipalities of Cornellá de Llobregat and Viladecans, belonging to the Bajo Llobregat region, also offer new construction housing, mainly apartments, with prices ranging from €225,000 to €370,000.

We cannot forget Vilanova i la Geltrú, known as La Habana Chica and the capital of the Garraf region, which is also very popular and currently offers a residential development with an average price of around €3,600 per square meter.