Price of Barcelona second homes up by 15%
Wednesday, 18 Jan 2006 15:34
Barcelona property enjoyed strong price growth in 2005
The price of second homes in Barcelona rose by over 15 per cent in 2005, research shows.
Meanwhile, prices of second homes in Madrid, the Spanish capital, rose by over seven per cent last year according to a report by idealista.com
But both of them are being outperformed by second homes in Valencia, further down Spain's east coast, with some of its districts experiencing double digit growth in the last quarter alone.
Although the rise in price of second homes in Barcelona at 15.2 per cent is good by any standard, it is well down on the spectacular rises of previous years.
In 2002, the price of second homes in Barcelona increased by 30.2 per cent, while in 2004 they increased by 18.3 per cent.
Last year, the biggest rise in Barcelona was in its Ciutat Vella district where prices rose by 18.8 per cent, while Les Corts was the only district not to achieve double-digit growth with a rise of 7.6 per cent.
The growth in the price of second homes in Madrid, at 7.3 per cent, was only slightly below 2004 when prices rose by 7.5 per cent – but was still the lowest in five years.
The Puente de Vallecas district saw the highest rises last year, at 13.9 per cent, and the Fuencarral district saw the lowest at 4.8 per cent.
In Valencia, however, the boom of recent years appears to be continuing. Data is only available for the last quarter of 2005, but in this quarter idealista.com recorded double-digit prices increases among second homes in five districts.
The city's Camins al Grau district saw the highest growth in the three months to December, at 16.1 per cent, followed by Benimaclet, at 15.4 per cent.
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