Barcelona is the most attractive place in Spain for investors after rent caps were removed, according to estate agency Lucas Fox.
The Catalonian city has attracted second home buyers and investors for decades, however yields were previously hit by lower rental income and higher prices caused by the rent caps.
The law has now been deemed unconstitutional and has been invalidated with immediate effect.
Mohammad Butt, Barcelona office director of Lucas Fox, said: “This is great news for Barcelona, as the end of the rent capping will allow investors to fully capitalise from purchasing in an international city which offers an attractive and safe return on their investment.
“The ECB has indicated a possible interest rate increase in order to regulate inflation therefore now is the time to be requesting a mortgage whilst rates remain low.”
“The return of foreign investors with the lifting of travel restrictions and quantitative easing programme within the EU has been the main driver for the Spanish recovery and real estate market.
“Barcelona offers a privileged location on the Mediterranean Coast, presiding over a rich and fertile gateway region between France and Spain. With outstanding sights and culture, the City attracts 10 million visitors pre-Covid, making it one of the world’s top 20 tourist destinations.”
Barcelona was recently ranked fifth place for ‘urban quality’ according to The Economist Intelligence Unit 2021 ranking, just after Miami.
