Madrid and Barcelona are two of the large European cities in which luxury housing is least expensive. Nevertheless, it is clear that high quality properties are going to become more expensive in 2015. Specifically, by 5% in the “most prestigious areas” of Barcelona.
Those are the findings of a study by one of the largest networks of real estate brokers in the world – which compares prices per square meter for new, used and luxury housing in prime areas of the continent’s main real estate cities.
The average price per square meter of new housing developments in the centre of Barcelona is €5,500. Those figures are light years away from the (prices seen in) London (€11,500/m2) and Paris (€10,000/m2).
Of the 10 individual real estate markets covered in the report, only three are cheaper than Madrid and Barcelona: Berlin (€4,800 per m2, on average), Valeta (Malta, €3,650/m2) and Prague (€2,770/m2).