Effects of the Catalan political landscape on the sale of luxury real estate

How does the Catalan political landscape affect the sale of luxury real estate?

Catalonia is under intense scrutiny right now. Both in Spain and internationally. The doubts surrounding the autonomous region’s future have affected many sectors in one way or another. This uncertainty means that actions and movements by businesses and individuals are postponed, delayed or cancelled, and sometimes the opposite is true – they take place more quickly, and in a hurry. The spotlight is on the recent proclamation of independence vs the enforcement of Article 155 of the Constitution.

Bcn Advisors has studied the luxury real estate sector: what is happening with purchases of homes? The political situation in Catalonia is leading buyers to ask themselves some questions. Furthermore, because nobody knows exactly how long this situation will last or how far the parties involved will go, the number of transactions in the luxury housing field is falling.
Some clients have decided to leave their operations on standby. This means that given the current outlook and the situation in Catalonia, buyers prefer to wait for the dispute to be resolved before deciding to purchase luxury homes. This means that although some agreements between the purchaser and vendor had practically been concluded, the agreement has been suspended in some cases. At Bcn Advisors, we currently have postponed.

However, the important thing is that there are customers willing to buy a luxury apartment in Barcelona once this situation has been resolved.
Some people also see it as an opportunity, as our portfolio of new clients who are actively searching for a luxury home in Barcelona has increased. All of them are interested in finding a home, and have a budget of over eight hundred thousand Euros. This means that they all believe in the city and in its appeal. Despite Catalonia’s uncertain political future, Barcelona continues to captivate purchasers because of its attractive quality of life.

Deciding to put their search for a luxury home in Barcelona on hold, or making a move to find their perfect flat. This is a reflection of two current attitudes to the Catalan problem and the future of the region’s politics, economy and society. The luxury real estate sector is affected by it, as the progress of many transactions has been altered. We will have to wait for a political resolution of the current situation to see what ends up happening to the Catalan luxury homes that are currently awaiting buyers. Bcn Advisors will continue to keep an eye on the situation of the market in Barcelona and how it is affected by the dispute.