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Price of newly built homes rises by 14.4% in Catalonia in 2021, to €4,421 per sq meter

Property developers note "change in mentality" leading to increase in single-family houses and open-plan kitchens

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08 February 2022 07:03 PM

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ACN | Barcelona

The price of newly built housing in Catalonia increased by 14.4% in 2021, to €4,421 per sq meter, according to a report from of the Association of Promoters of Catalonia (APCE).

The group attributes the increase to the fact that there has been a "reactivation" of new construction throughout Catalonia, with some areas experiencing unusually high growth.

In the Tarragona region, for example, prices have risen by 22.5%, to €2,421 per sq meter. In Barcelona (province), they have gone up by 15.3% to €4,872 per sq meter.

Prices are highest in Barcelona city, at €7,159 euros per sq meter, up 1.4% on 2020. The most expensive neighborhood is Eixample – €10,230 on average – and the most affordable is Sant Andreu, at €5,149. The actual price of new homes in the Catalan capital has fallen by 0.4%, as they were – on average – 1.7% smaller than the previous year.

Beyond Barcelona

APCE president Xavier Vilajoana highlighted one "positive aspect" of price increases is that it reflects that new homes are being built beyond Barcelona. Vilajoana explained that in areas with low levels of sales in recent years, the base reference prices were "very low", so more new builds have meant big increases in the average price per sq meter in 2021.

"The figures could lead to erroneous conclusions if you don't analyze where they come from," he warned.

In Lleida the average price per usable square meter by 2%, to €2,181, while in Girona the increase was 8.8%, to €3,721.

Vilajoana said that the price increases have been "normal", taking into account construction costs and inflation.

Supply of single-family homes doubles

The study from APCE also showed that the supply of single-family homes has doubled over the past year. In 2020, such houses – as opposed to, for example, a shared block of flats – made up 4% of new builds, while in 2021 the figure rose to almost 8%.

Vilajoana puts the increase down to a "change in mentality" following the pandemic, with people "looking for more open space," and predicted that the trend will continue in 2022.

Similarly, the number of new homes with a communal pool was almost 50%, while 37.% had garden areas, something not always associated with the dense housing found in many parts of Catalonia.

Another trend noted by Vilajoana was for open-plan kitchen and dining areas, a design once so foreign that it is referred to as an 'American kitchen' (cuina americana) in Catalan.

"A few years ago, it was unthinkable that open-plan kitchens would be so common in homes that are on the market," the APCE president said.

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  • A builder at work in Barcelona, February 8, 2022 (by Maria Asmarat)

  • A builder at work in Barcelona, February 8, 2022 (by Maria Asmarat)

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