Located just beyond Barcelona’s atmospheric medieval center, Eixample is an elegant, well-heeled neighborhood, characterized by broad streets, ritzy shops and visionary Modernist architecture. Central, cultural and buzzing, it is a magnet for overseas buyers looking for second homes in this Spanish city.
Boundaries:
The district is bounded by Gran Via de les Corts Catalanes to the south, Avinguda Diagonal to the north, Passeig de Sant Joan to the east and Carrer de Tarragona to the west.
Price range:
Eixample (which translates in English to "expansion") is one of the priciest places to buy in Barcelona. The average price per square meter is €5,000 (US$5,346) or €464 (US$496) per square foot, according to Alex Vaughan of Lucas Fox.
May Iglesias, of Engel & Volkers, gave a broader range. "Most properties cost between €3,500 (US$3,700) and €7,000 (US$7,400) per square meter," she said.
According to local agents, the average one-bedroom flat costs between €300,000 and €350,000 (US$319,000 and US$372,000).
A two-bedroom flat will sell for between €350,000 and €500,000 (US$372,000 and US$531,000). Three-bedroom apartments typically cost from €650,000 to €700,000 (US$691,000 and US$744,000).
The average price for a new-build home is slightly higher at €6,000 (US$6,400) per square meter. "New build homes come with a premium because of the fittings and fixtures and amenities they offer," Mr.Vaughan said.
Homes that are classed as new build generally refer to properties in refurbished apartment blocks, as there’s very little space in the city to build new developments.
The local authorities want to preserve the original look of the streets, so the façades and floor plans of buildings are usually retained and everything else is stripped out and rebuilt.
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Housing stock
It’s mainly apartments here, but there’s everything from 50-square-meter studios to 5,000-square-meter penthouses.
Most buildings date from between the early 1900s to the 1940s, and they typically have five to six stories. The most sought-after apartments have original features and are light-filled, with spacious floorplans, big windows and tiled flooring.
"Foreign buyers are keen on homes with original features," Ms. Iglesias said. "They want homes with nolla mosaic tiles and traditional carpentry."
Homes on the first or "principal" floor were once considered to the best properties because they are easily accessible from street level and have private gardens.
Now, top-floor flats, or penthouses, are becoming increasingly more sought-after. "Foreign buyers prefer the top floor because it offers great views of the city and more privacy," Ms. Iglesias said.
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What makes it unique?
Home to attractive shops with traditional fronts and regal-looking apartment buildings, Eixample is an undeniably ritzy and elegant part of town.
A commercial and residential district built during the 19th and 20th centuries, the area is bustling and vibrant and, unlike the labyrinthine Old Town, you’re unlikely to ever get lost, as it is laid out in a grid pattern.
"Barcelona is small and Eixample is at the heart of it," Ms. Iglesias said. "Local tapas bars, supermarkets, independent food shops, churches, pharmacies, schools, bakers … the area has excellent amenities for residents," she said.
Fans of architecture come to the neighborhood to marvel at Modernist gems, such as Antonio Gaudi’s Casa Batlló and Josep Puig i Cadafalch’s Casa Amatller, as well as Gaudi’s famous unfinished church masterpiece, la Sagrada Familia.
There are lots of modern art galleries too, as well as theaters and cinemas. The beach, located in Barceloneta, is a five-minute taxi ride away, and the Old Town is on Eixample’s doorstep.
Atmospheric and next door to the beach, the Old Town was traditionally a go-to destination for foreign buyers. Now, they are increasingly opting for Eixample instead. "It is not as dynamic as the Old Town but it is less crowded and considered safer," Mr.Vaughan said.
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Luxe amenities
Passeig de Gracia, Barcelona’s most famous shopping street, is home to some of the city’s best stores. There are high-fashion labels such as Valentino, Prada and Chanel, as well as more middle-of-the-road stores, such as Zara, Mango and & Other Stories.
The area is a foodie’s haven, too. Along with fantastic neighborhood tapas bars, there is Disfrutar, a contemporary restaurant run by three former head chefs of el Bulli, the now-closed, three Michelin-starred eatery; the Mandarin Oriental hotel’s BistrEau, a seafood bistro; and Mont Bar, which serves tapas dishes made from organic produce.
Who lives there?
A traditionally wealthy part of town, it is home to many affluent Catalan families and individuals who are typically lawyers, bankers, architects and directors of small and medium-sized businesses.
There is a growing number of expats and overseas second homeowners who live there for part of the year. "The city is attracting a new type of foreign buyer," Mr.Vaughan said. "They are typically in their 40s, enjoy city living and they want to be in the heart of things."
He added: "The city is attracting a diverse range of people because it is accessible—the city’s airport has direct flights to most of the world’s major destinations —and it has a lot to offer. It is by the coast and has fantastic architecture, gastronomy and nightlife."
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Outlook
"The market had a rough time from 2007 to 2014, but prices are stabilizing," said Mr.Vaughan. "The country’s economy is doing well and new developments are coming to the market, which is good news because most second- and third-home buyers want to purchase new-build homes."
Gerard Boix, a real estate consultant at Barcelona and Costa Brava Sotheby’s International Realty, added: "Prices have increased over the past year because the economy has improved, and we think they will continue to do so this year."