The average housing price in the Barcelona municipality has hit 4,997 euros per square meter, according to data from the Statistical Portal of the Notariat for the end of May. This figure represents a 5.3% increase since the beginning of the year and a notable 12% rise since last October.
These figures combine used and new housing, although new housing transactions are scarce, with only 612 sales registered in the city over the last twelve months. The price of newly built housing has risen by 12% since the start of the year, exceeding 7,800 euros per square meter.
The price increase in Barcelona has surpassed the Spanish average, which rose by 3.5% to 2,050 euros per square meter between January and May. However, Barcelona remains below Madrid, where the average price stands at 5,536 euros per square meter, 10.8% higher than in the Catalan capital.
The imbalance between household creation and new housing supply places the province of Barcelona with an estimated deficit of 8,798 homes, according to the Spanish Association of Real Estate Consulting (ACI). This deficit is the fourth largest in Spain in absolute terms.
Although household creation has moderated and protected housing has increased, the upward trend in the residential deficit has not been reversed. This scarcity of supply explains the price behavior, despite a downward trend in the number of sales.
