The Catalan real estate market in the first quarter of 2024 showed a mixed performance, with an increase in the number of home sales, but maintaining a downward trend in annual results. 24,238 sales were registered, which represented a quarterly increase of 18.2%, although a year-on-year decrease of 4.7%. Prices per square metre also experienced slight growth, reaching €2,470/m², with a year-on-year increase of 2.4%.
The rental market remains challenging, with 30,411 contracts on offer in the quarter, representing a year-on-year decrease of 21.8%. Despite this reduction, the average rental price continues to rise, reaching a record of €854 per month, particularly driven by the province of Barcelona, where rental prices are significantly higher than in other provinces.
The report highlights the stabilisation of interest rates as a possible respite for the real estate market throughout 2024, which could improve financing conditions and contribute to greater activity in the sector. However, the rental problem remains worrying, with insufficient supply and upward pressure on prices, reinforcing the need for policies that boost supply and generate incentives for landlords. Overall, the real estate market in Catalonia shows signs of stability in terms of prices, although challenges persist in the area of rentals and access to housing.
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