Direction. In Barcelona, immigrants are changing the city.

In some areas of the capital of Catalonia, every fourth resident is now from a country with a GDP higher than that of Spain. According to the newspaper La Vanguardia, the purchasing power of these migrants is...“shapes and transforms the city, its urban geography and socio-economic structure”."Barcelona, like Madrid, and to a lesser extent cities like Valencia or Malaga, has become a magnet for high-income immigrants."The publication notes that the number of these new residents, who have higher financial capabilities, has increased fourfold over the past three decades.“Attracted by tax incentives and special visas, they have become a source of talent and currency, but also drivers of gentrification.”.

It is mentioned“tsunami of expatriates”Their influence is particularly noticeable in the historical center of the city, the Ciutat Vella district, where in some areas they make up as much as 24.4% of the population. However, their high concentration is also observed in popular areas such as the Quadrat d'Or and the most affluent part of Eixample, as well as in Gràcia, Poblenou, Poble Sec, and Pedralbes, where in certain places they account for about 10% of the local residents. These foreigners not onlyThey are buying the most expensive real estate in the city., but they also contribute to the increase in rental rates.

The Amat Immobiliaris agency manages 2,500 apartments, mainly in prestigious areas. Its data indicates a current...“tsunami of expatriates”In 2023, 40% of rental agreements were signed with foreigners, according to Guifre Homedes, the director of the agency.

The pandemic became a turning point: in 2019, the share of such tenants was only 15%. The most common profile among new residents is“young digital nomads”Among them is a significant number of French people.

Local authorities, as highlighted by La Vanguardia, are giving these migrants a warm welcome. In 2021, the city hall launchedInternational welcome office offering personalized services for international talents looking to move to Barcelona.However, the growing number of foreign expatriates with high incomes is creating“obvious problems” in the housing market, notes Guifre Homedes.“In a competitive market like Barcelona, locals cannot compete with foreigners who earn European salaries.”Although the cancellation of the golden visa, which was granted to foreigners investing at least 500,000 euros in real estate, may change something, experts remain skeptical. According to economist Judit Montoriol, this segment...“too narrow” to significantly change the situation.“Like in other cities, Barcelona has become extremely attractive to such buyers, but also to many others. It is truly a global phenomenon.”.