CBRE makes a Global Living report on the housing market situation in the top 35 most important cities in the world and concludes that the prices increased the most in Barcelona last year. Up with 16.9%, the city of Barcelona takes the first place in the global ranking of real estate price increase for 2018.
Published annually by CBRE, an international real estate consultancy, the report looks at average property prices, house price growth, average prime property prices, average monthly rent and rental growth in 35 global cities and ranks them for each metric. Barcelona was also taking the 5th spot at rental price growth last year with 7.7%.
Graphics from CBRE report
Despite the reported increase of real estate in Barcelona, the city is still relatively affordable compared to other cities in the ranking, with Barcelona in 21st place. However, Barcelona is less affordable when it comes to rent, in 11th place worldwide.
“As we approach the end of a decade long property market cycle, housing markets around the world are slowing down,” explains CBRE’s report by Jennet Siebrits, Head of Residential Research. “Some cities are further into the cycle than others, and this is reflected in our top 10 list for house price growth.
“Last year some of the best performing cities were New York, Los Angeles, Toronto, Vancouver, Sydney and Melbourne. With these markets now suffering from increasing affordability constraints, they have been pushed down the list making room for European cities where house price growth is still robust. There remains room for growth after the deep housing market downturn that followed the financial crisis. Dublin, Shanghai and Cape Town were the only 3 cities still in the top 10 for house price growth since the last report.”
The increase in price is a great indicator for investment opportunities in Barcelona. Check out our page with real estate in Barcelona
A picture of CBRE’s Global Living report tables