We present the 2023 Market Report to the press

Guifré Homedes presents the 2023 Market Report at our Luxury Boutique in Barcelona.

Yesterday, March 13th, our CEO, Guifré Homedes, presented the 11th Market Report of 2023 from Amat Immobiliaris to the press, which encompasses and summarizes our data from last year and how we perceive the real estate market.


Approximately 16 media participated in the event hosted at our Luxury Boutique, during which we addressed various topics including the shortage of available housing and its subpar energy efficiency ratings, particularly within the rental sector. Additionally, we delved into the rising presence of international tenants and highlighted the prosperous year experienced by the Luxury market. You can see the news published by ViaEmpresa, El Periódico, and Diari Ara about our Market Report.


“Tenants rent what they can afford, not what they want.”


Rental Market


Following years of growth, 2023 signified the second consecutive year of downturn. Nonetheless, this year’s decline has been notably more pronounced than in 2022, characterized by a 25% reduction in new contracts, culminating in a 35% decrease over the past 2 years.


Roughly 75% of newly signed contracts now exceed €1,000 per month, a stark contrast to a decade ago when such agreements only comprised 24% of the market. This shift can be attributed to various factors, including regulatory measures. Following the initial regulations in 2021, the available supply began to dwindle. Moreover, the impact of foreign demand, combined with the limited availability of properties, has fuelled price escalations. Consequently, our portfolio has witnessed a decline in turnover, dropping from 14% to 7%. Additionally, 1% of property owners opt to exit the rental market “to avoid complications.” With mounting challenges in property acquisition, tenants are reluctant to relocate, resulting in a constrained supply, heightened prices, and further marginalization of vulnerable demographics.


“With less supply, the requirements for choosing a candidate are even higher, and therefore, those who are economically disadvantaged will not enter the market in any way.”


The tenants profile falls within the age range of 30 to 50 years old, paying monthly rents between €1,001 and €1,500. 43% are looking for residences with 3 bedrooms spanning from 65 to 95 m², and the majority of the properties we lease exhibit a low energy efficiency rating of an E.


The implementation of the Next Generation Funds aimed at this energy transformation has been minimal, representing a failure in comparison to the initially established objectives. “An absolute failure of the country.” This is how our CEO perceives it, believing that an exceptional opportunity has been missed due to “very low interest both from the sector and society in general.” 


This is explained in the news by EjePrime.


Seasonal Rental


Regarding seasonal rental, 2023 signifies the first year with significant data. The first thing Guifré highlights about this rental modality is that it has been misinformed. There’s consistent mention of a maximum of 11 months, but the law does not stipulate this. A temporary contract essentially requires substantiated temporality, leading one to a location that, being temporary, isn’t deemed their primary residence, and it specifies a minimum duration of 32 days. However, temporality lacks a defined maximum; it’s the temporary project that dictates the duration.


In our case, the average length of stay stands at 13.5 months. Among seasonal renters, 54% relocate to our nation for educational motives, primarily attending business schools. Similarly, 29% relocate for professional purposes, while the remaining 17% do so for medical reasons.


Real Estate Market


Second Hand

Regarding second-hand sales, the average time to sell a property has been four months, slightly higher than in 2022. Notably, we have approached an average of €600,000, showing an increase compared to the previous year. The investment profile that had vanished has resurfaced, albeit solely in Barcelona, reflecting persisting hesitancy elsewhere. In Barcelona, financed transactions accounted for 35%, marking a significant decline from 62% in 2022.


75% of the properties we sold are under 120 m² and 59% have 2 to 3 bedrooms, while the average age of the buyers remains above 40 years old. The majority of second-hand properties also confront the challenge of enhancing their energy efficiency, as over 60% of the sold properties have an E rating or worse.

Amat Immobiliaris 2023 Market Report - Sale

New Construction

In terms of new construction, 2023 has outperformed 2022, despite the challenging environment that hindered decision-making in many cases. Nonetheless, activity has noticeably improved throughout the year, with all projects firmly established. Most projects have seen 1-2 sales per month, mirroring the trend at the end of 2022. One notable change in new construction in recent years is that even after completion, there are still flats available for sale, which subsequently enter the regular sales market, being fully finished and move-in ready.


Buyers under 40 years old remain significant, with new construction often serving as their primary entry into property ownership. Many of these buyers receive financial assistance from family members. The most popular housing option is units larger than 90 m², comprising 74% of sales, a substantial increase from 19% in 2022. This shift is attributed to a decrease in the proportion of flats ranging from 90 to over 180 m², which dropped from 81% in 2022 to 26% currently. Additionally, the number of bedrooms has decreased, with 40% of properties featuring 2 bedrooms, compared to 27% in 2022, where 2-bedroom units accounted for 46% of sales while 3-bedroom units comprised 46%. Energy efficiency ratings remain predominantly within the A to B range.


Luxury Market


The luxury market has played a significant role for us in 2023. Half of our sales comprised houses, predominantly situated in Sant Just Desvern and Sant Cugat del Vallès. When factoring in the single-family plots sold for high-end house construction, it’s evident that over fifty percent of the market has revolved around single-family homes.


Antares Barcelona - Amat Immobiliaris

In Barcelona city, our luxury sales have been concentrated in two specific regions: the Upper Zone of Barcelona and Diagonal Mar. Demand continues to be a blend of local buyers seeking to upgrade their residences and foreign buyers searching for second homes. Thanks to the international market, we’ve successfully closed deals on some of the city’s most iconic projects, such as a property located on the 20th floor of the Antares skyscraper in Barcelona.

Ley de la Vivienda


Among the questions from journalists, those related to the Ley de la Vivienda stood out, which was supposed to come into effect on March 13, but has been delayed until Friday. The CEO of Amat Immobiliaris has described the new law as “poorly managed” and believes it will have “little impact on access to housing” and “exclude the most vulnerable.”


If you wish to view the full market report, you can do so by clicking here.


If you require information, feel free to reach out to us via email at  info@amatimmo.cat or by calling us at (+34) 934 803 400.


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