Up to 20% more expensive living in a trendy neighborhood
Up to 20% more for living in a trendy neighborhood is what you will have to pay if you do not want to settle in a “regular” neighborhood.
According to a recent real estate study, the interest in the most fashionable neighborhoods increases the purchase prices of the area between 5% and 20% depending on the reasons why it is a requested neighborhood.
In the case of Barcelona, for example, we are talking about neighborhoods such as El Born, Sant Antoni or Ciutat Vella. These examples of classic neighborhoods with a lifelong neighbours, are being transformed by the appearance of new buyers who seek the authenticity of the area both for the environment and the architecture of housing. Reformed or ready to reformed apartments are really sought-after with the aim of maintaining the essence of what is historically found in the area.
This growth of interest obviously increases the prices requested by the owners at the beginning, both for purchasing and renting. At the end it is the rules of supply and demand market.
The new profile of the buyer is a good advantage. Young families or couples and students who want to enjoy emblematic neighborhoods of large cities and have the means to do so. These new buyers and / or tenants rejuvenate these areas, which are often aged due to being old owners or tenants of old rent.