The Impact of Independence on Barcelona's Real Estate Market
Property experts agree that it is too early to assess the real impact of political instability in Catalonia on the market since October 1, when the illegal referendum was held. However, there are already signs that give some idea of the collateral damage caused by the independence process on the Catalan property market.
For example, the price increases that have occurred this year have slowed. House prices rose 6.1% in October. In previous months, they had registered double-digit increases (10.6% in September, 11.6% in August and 12% in July).
Not all Catalan provincial capitals have been affected by the slowdown in the same way. For example, prices in Lleida, Girona and Tarragona rose by 5-6% this year compared with the rest of Spain and have now fallen by 1%.
A similar picture emerged in the rental sector, where prices in Catalonia have risen by as much as 18% in a few months – they are now rising by 14% – and up to 20% in Barcelona, where they only rose by 3% in October.
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