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Real Estate Market Prospects Girona

Every investor takes care of their investments. From this point of view, it is important to consider not only such a moment as the liquidity of housing in a particular region, but also to be able to determine the right time to buy. The dynamics of the real estate market is the key factor in this matter. In order to buy an apartment or house in a profitable way, you should analyze the real estate market prospects. Let’s talk about Girona. What to expect in the near future: a rise or fall in prices, an increase or decrease in activity of foreign investors?

Real estate market indicators for Girona

According to statistical agencies, in recent years in Catalonia, in general, and Girona in particular, there has been a growth in the real estate market. Thus, in 2016 was registered the highest rate of sales since January 2013 – then in Girona was sold 810 residential properties. Compared to 2015, in 2016 there were 34.55% more transactions, among which secondary real estate accounted for 87.53%.

National Statistics Institute of Spain reports that in 2017 the figures continued to grow. Compared with 2016, in the third quarter of 2017 the level of real estate sales in Catalonia, as a whole, showed pre-crisis. The price index was the second in the country after Madrid, its growth was 10% (in pre-crisis 2007, this figure was 11%). During the first months of 2018, housing prices rose in Girona. As of March 2018, the following figures were relevant:

  • The total number of house sales over the last year increased by 3.32%.
  • The level of housing sales to foreign buyers decreased by 5.17% (the level of foreign investors’ participation in transactions is 26.67%).
  • The number of confirmed home mortgages decreased by 10.48%.
  • But the rental index (cost of living) shows an increase of 1.07%. This means that as real estate sales increase, so does the cost of rent. The average cost per square meter of housing in Girona in the first quarters of 2018 was about 2.5 thousand euros per square meter in the city center and 1.3 thousand euros per square meter outside the city center.

Girona and Madrid: purchase and rental price ratio

For comparison, we decided to compare the latest data regarding the cost of renting and buying a home in Girona and Madrid. Buying an apartment in the center of Girona will cost on average 63.04% cheaper than with similar data in Madrid, and if we talk about housing outside the center, Girona again wins by 50.73%. The cost of renting a studio apartment in the centre of Girona is about 525 euros per month, while in Madrid it is about 732.87 euros. Outside of the centre, the prices for studio apartments in Madrid and Girona are approximately the same: 433.27 and 400 euros, respectively. Thus, by buying a home in Girona outside the city center at a lower price than in Madrid, you can rent it out and earn higher income.

If you are interested in real estate in luxury areas of Spain, you can also consider buying a mallorca villa. There are many different property options that you might like to buy on the island of Mallorca. In addition, this is your chance to buy property near the sea.

What to expect from the real estate market in Girona?

At all times real estate in Girona was liquid and extremely popular. This is the situation that investors are facing today. Given the stable and confident performance of the real estate market in Spain, generally illustrated by the growth of not only the number of sales transactions, but also the increase in prices for homes, apartments and prestigious villas, we can expect the continuation of these trends in the near future. Catalunya remains one of the leaders. In turn, Girona remains one of the leaders in this region.