KKH presents a new project. It is located at the intersection of Diagonal Avenue and Paseo de Gracia in Barcelona. Moreover, it is erecting a new 75-meter residential tower under the commercial name Mandarin Oriental Residences. The project will have 20 floors.
The first apartments in the tower were sold at a price of EUR 30,000 per sq. m., which is a record for Spain, where until now the cost of luxury housing barely exceeded EUR 20,000 per sq. m. There are only a few weeks left before the building officially goes on sale.
The most sought-after objects have not yet been put up for sale: apartments on the upper floors, including an elite penthouse with an area of 600 sq. m. It offers a 360-degree view of the Catalan capital. The construction of the apartments is planned to be completed by the end of the year. Residents of 34 apartments will be able to use all the services of the Mandarin Oriental Hotel, which is located 900 m from it.
According to the index prepared by the valuation company Tinsa, as of the end of August, house prices in Spain have increased by 5.2% over the past 12 months. The growth compared to July was 0.4%. The significant year-on-year jump registered in August covers all areas in general, but especially those tourist areas that suffered greatly from the effects of the pandemic a year ago.
Thus, the index of islands (including the Balearic and Canary Islands) has grown by 7.9% over the past 12 months, and the Mediterranean coast - by 6.1%. In the metropolitan areas (Madrid and Barcelona), progress is somewhat more moderate - the growth for the year was 4.9%, and in the capitals and large cities - 3.8%.