Published on and written by Cyril Jarnias
Investing in real estate in Manresa means positioning yourself in a market midway between Barcelona and the Catalan hinterland, with prices that are still accessible, high rental yields, and a series of urban and residential projects that are driving the city upward. Behind the image of an “average industrial town,” we now find a real estate market far more dynamic than it appears, fueled by Spain’s general housing shortage and a very active local urban planning policy.
A still affordable market, but clearly on an upward trend
Manresa first stands out for a price level significantly lower than that of Barcelona and major provincial capitals, while still benefiting from their economic halo. According to the most recent data, the average sale price hovers around €1,400–€1,500/m², with a benchmark of €1,423/m² for properties listed for sale in July 2025 and €1,409/m² in January 2026. In March 2026, another dataset puts the average at €1,483/m².
At these levels, the entry price remains moderate: a market overview also highlights an average price of about €161,936 per property, although another source, based on a smaller sample, rises to €260,000 and €1,794/m². The median prices confirm this impression of an accessible market: €128,034 for an apartment, €262,084 for a house.
The average rent per square meter in Barcelona in January 2026 was €9.45 per month.
The recent trend is clear: between July 2024 and July 2025, sale prices increased by 7.56% and rents by 7.27%. Over two years, the low point was around €1,231/m² in December 2023, compared to a peak of €1,442/m² in May 2025. The market has thus experienced a rapid catch-up phase, typical of second-tier cities becoming alternatives to saturated metropolitan areas.
Apartments vs. houses: Two dynamics, two investor profiles
The Manresa market is split between apartments and houses, with slightly different but converging price trajectories: the increase is here, and it’s accelerating.
Price evolution per m² (main EV DWH series)
| Property Type | 2022 (€/m²) | 2023 (€/m²) | 2024 (€/m²) | 2025 (€/m²) | Change 2022–2025 |
|---|---|---|---|---|---|
| Apartments | 1,519.14 | 1,514.64 | 1,575.24 | 1,646.99 | Approx. +8.4% |
| Houses | 1,222.92 | 1,307.39 | 1,341.66 | 1,435.57 | Approx. +17.4% |
The slight dip for apartments in 2023 (–0.30%) appears as a momentary pause in a continuous upward movement. Houses, on the other hand, show a more volatile progression, exceeding +7% in 2025 after already +6.9% in 2023.
A second database, with slightly different levels, outlines the same trend: short-term volatility, but a clear recovery since 2024, particularly pronounced for houses (+14.09% in 2025 after a dip in 2024).
For an investor, an apartment is considered a safe asset, more liquid and with more predictable returns. On the other hand, investing in a house generally offers greater capital appreciation potential, but this investment is also more sensitive to economic cycles.
Highly segmented prices based on the number of rooms
The median prices per m² vary significantly depending on the size of the property. For apartments, studios and large 5-bedroom units reach the highest levels, while 3 and 4-bedroom units are lower per m², reflecting their role as a mass-market product.
Median prices per m² by property type (sales)
| Housing Type | Apartments (€/m²) | Houses (€/m²) |
|---|---|---|
| Studio | 1,706 | — |
| 2 rooms | 1,640 | — |
| 3 rooms | 1,602 | — |
| 4 rooms | 1,431 | 1,020 |
| 5 rooms | 1,848 | 1,164 |
| 6 rooms | — | 1,044 |
4-bedroom properties offer an interesting compromise: a lower price per m² than the average, a broad rental market (families, shared flats, remote workers), and solid resale potential. This is typically the format that will interest a long-term investor in the primary residence or long-term rental segment.
For houses, the logic is similar: 4-bedroom homes offer an accessible entry point for family rentals, while 5 and 6-bedroom homes move upmarket, often with more land and intended as primary residences for affluent or multi-generational households.
A mid-sized city with solid fundamentals
Manresa has approximately 78,245 inhabitants, making it a typical mid-sized city in the Catalan network, with a significant employment base in industry, services, construction, and agriculture. Its location about fifty kilometers northwest of Barcelona places it within the orbit of the Catalan capital, while still having its own economic fabric.
In Manresa, the average net salary is about €1,743 per month. With local real estate prices, this gives a price-to-income ratio of 3.59. This ratio, considered reasonable in Spain, contrasts with the much higher ones of major metropolitan areas. This relative affordability partly explains why some demand is redirecting towards cities like Manresa.
The local market is also driven by proactive public policies: Manresa Urban Agenda 2030, 2024‑2030 Outsourcing Plan, major infrastructure projects (urban tram, “Manresa/Bages” intermodal hub, burial of the regional railway line), and particular attention to the regeneration of fragile neighborhoods. These are all signals that, for an investor, indicate a gradual improvement in accessibility, quality of life, and therefore residential attractiveness.
Where to invest in Manresa? A detailed look at the neighborhoods
The city shows strong price heterogeneity between neighborhoods. For an investor, the key is to understand this gradient, as it affects both capital appreciation potential, tenant profiles, and management strategy (yield vs. security).
Price levels by zone: From the historic center to high-demand sectors
The July 2025 data gives a fairly precise picture of the gaps between neighborhoods, both for sale and rent.
Sale prices and average rents by neighborhood (July 2025)
| Area / Neighborhood | Sale (€/m²) | Rent (€/m²/month) |
|---|---|---|
| Poblenou – Bases – Ctra Santpedor | 1,818 | 9.06 |
| Centre – Passeig i Rodalies – Ctra Vic | Approx. 1,443 | 8.4 |
| Sagrada Familia – Font dels Capellans | 1,421 | 8.24 |
| Valldaura – Plaça Catalunya | 1,397 | 9.3 |
| Mion | 1,412 | 9.17 |
| La Balconada – Cal Gravat | 1,426 | 6.58 |
| Antic (expanded historic center) | 1,193 | 7.84 |
| Escodines | 1,037 | 7.14 |
| Congost – Farreres – Santa Catarina | 1,027 | 8.57 |
Two logics emerge. On one side, premium neighborhoods (Poblenou-Bases-Santpedor, Centre, Valldaura, Plaça Catalunya, Poble Nou) combine high prices and good rental demand: these are areas for “long-term asset investment” with solvent demand and low vacancy risk. On the other side, more affordable sectors like Escodines or Congost offer a lower entry price, but with rents sometimes close to the average, improving gross yield at the cost of higher rental risk.
The median price of an apartment in Plaça Catalunya in Manresa peaks at 284,333 euros, the highest among the city’s neighborhoods.
Another source, combining average price per m² and average purchase price, allows for an even more refined picture.
Average prices by district (another source)
| District | Price/m² (€/m²) | Average Price (€) |
|---|---|---|
| Poble Nou | 2,149 | 190,544 |
| Bases de Manresa – Ctra Santpedor | 1,896 | 182,359 |
| Centre – Passeig i Rodalies | 1,812 | 270,300 |
| Plaça Catalunya | 1,733 | 157,553 |
| Valldaura – Ctra de Cardona | 1,612 | 140,421 |
| Ctra de Vic – Remei | 1,597 | 138,720 |
| Congost – Santa Caterina | 1,601 | 156,360 |
| La Balconada – Cal Gravat | 1,601 | 156,360 |
| Barri Mion – Puigberenguer | 1,547 | 134,029 |
| Fonts dels Capellans – Sagrada Família | 1,351 | 129,999 |
| Escodines | 1,315 | 113,184 |
| Barri Antic | 1,274 | 109,323 |
For an investor, this table suggests several possible strategies:
For a long-term asset investment, prioritize the Poble Nou, Bases de Manresa, or Centre neighborhoods, which benefit from relative scarcity and strong solvent demand. To target higher rental yield, focus on the Antic or Escodines sectors, accepting the need for more active property management. Finally, compromise areas like La Balconada or Congost offer a balance between yield and capital appreciation potential, provided upcoming urban projects improve their attractiveness.
Significant variation by street and postal code
Even within neighborhoods, prices vary strongly. The most expensive streets (Carrer de l’Abat Oliba, Pep Ventura, Miquel Martí i Pol, Pau Casals, Pla dels Ametllers, Avinguda de les Bases de Manresa, Passeig de Pere III…) far exceed the averages, with levels between €2,165 and €2,781/m², close to some peripheral Barcelona areas.
By postal code, the gap remains significant:
| Postal Code | Average Price (€/m²) |
|---|---|
| 08241 | 1,363 |
| 08242 | 1,609 |
| 08243 | 1,557 |
| 08254 | 1,201 |
A thorough investor should analyze these sub-markets in detail, especially since urban projects (tram, railway burial, intermodal hub, brownfield redevelopment) will reconfigure certain micro-locations.
Rental yields: Manresa ranks high in the Spanish market
One of Manresa’s strengths for an investor remains its rental yield. The average gross yield is estimated at 8.24%, with an average rent around €870 per month and a relatively low average price. The payback period (price/rent) is about 11.8 years, a very competitive performance compared to the Spanish average.
In detail, the price-to-rent ratios are also very telling: 10.10 in the center, 10.99 outside. Mirroring this, it means gross yields around 9.9% in the center and 9.1% outside. In many regional capitals, ratios climb to 18–22, making Manresa significantly more attractive for those prioritizing cash flow.
Figures by property size
Data by property type confirms this attractiveness.
Rental performance by apartment size
| Apartment Type | Average Price (€) | Avg. Monthly Rent (€) | Annual Income (€) | Gross Yield |
|---|---|---|---|---|
| Studio | 86,000 | n/a | n/a | n/a |
| 1 Bedroom | 80,000 | 650 | 7,800 | 9.68% |
| 2 Bedrooms | 113,000 | 750 | 9,000 | 7.96% |
| 3 Bedrooms | 127,260 | 900 | 10,800 | 8.49% |
| 4 Bedrooms+ | 168,130 | 1,030 | 12,360 | 7.32% |
1 and 3-bedroom apartments appear as the champions of gross yield, with nearly 10% for small 1-bedrooms and over 8% for 3-bedrooms. Larger, more expensive apartments see their average yield compress, although they can remain interesting for shared accommodations or high-end furnished rentals.
Indicators for estimating tenants’ monthly budgets in France
The median rent for an unfurnished property is about €660 per month. This figure varies considerably depending on the location.
In the Paris region, the median rent often exceeds €800 per month, with peaks in central Paris.
On average, renting households spend about 17% of their income on rent excluding utilities.
Rents tend to increase steadily, particularly in high-demand, tight market areas.
– 1 bedroom in the center: €700/month
– 1 bedroom outside the center: average €425/month (between €350 and €500)
– 3 bedrooms in the center: €1,000/month
– 3 bedrooms outside the center: €900/month (between €800 and €1,000)
At these levels, rent absorbs a significant portion of the local median salary, but remains sustainable for a dual-income household or profiles like remote workers or expatriates coming from more expensive markets.
Short-term rental market: A niche segment, but real
Unlike Barcelona or the Costa Brava, Manresa is not a mass tourist destination. The short-term rental market remains “niche” and heavily regulated. There are around 70 active listings on platforms like Airbnb, mostly entire apartments (nearly 73%), and in 90% of cases, condos or apartments.
The top 10% of short-term rental properties generate over $2,562 in monthly revenue.
Seasonality is pronounced: the summer months around August show average revenues close to $1,739 with an occupancy rate of 53–54%, while December drops to less than $1,000 and an occupancy rate of about 35%. This market profile suggests that tourist rentals can be a complementary or hybrid strategy (part tourist, part long-term), rather than a standalone model year-round.
New developments and urban planning: A driver of value appreciation
One of the strongest arguments in favor of investing in Manresa lies in the depth of ongoing urban, residential, and social projects. We’re not just dealing with a market of old buildings: the city is seeing the emergence of large-scale, often high-quality new developments.
Nova Alcoholera: Industrial heritage and new homes
The Nova Alcoholera project embodies this shift well. Led by Metrovacesa – a major name in Spanish development, with over 150 ongoing projects – it transforms the former Manresa liqueur factory into a contemporary residential complex. On site, two buildings total 98 multi-family homes over six floors, with layouts from 2 to 4 bedrooms, large terraces, garages, and storage rooms.
The complex is integrated into a public space around the factory’s historic chimney, restored as an artistic heritage element. A portion of the homes, 32 units, are classified as protected social housing (VPO), contributing to the local affordable housing supply and aligning with the Catalan social mix strategy.
The project illustrates the environmental focus of new development in Manresa with individual aerothermal systems, green roofs, and sustainability certifications (DOMUM and Green Seal) for a building with high energy standards. For investment, this project is interesting both for personal occupancy and for rental, particularly to a public sensitive to ESG criteria.
La Llum de Manresa and Les Bases: The move upmarket
Another emblematic project, La Llum de Manresa, comprises 74 homes of 2 to 4 bedrooms, from 79 m², all with large terraces, some with views of Montserrat, plus parking and storage. The project is marketed as “ready for delivery,” with the last units available, illustrating the good absorption of new construction in the city.
In the highly sought-after Bases de Manresa sector, another project of 20 homes with 2 to 4 bedrooms, with terraces and parking, under construction, shows an average price around €2,678/m², well above the city average. This is the concrete translation of a premium neighborhood effect: location, accessibility, and area image drive up the price – but also long-term value.
Alternative models: The La Bertrana cooperative
Innovation isn’t limited to the commercial segment. The La Bertrana project, comprising 60 social housing units in a right-to-use housing cooperative, marks a turning point. Located at the intersection of Pont de Vilomara road and Pilar Bertran Vallès street on land ceded by the city for 75 years, the complex spans nearly 7,800 m², with 4 large common areas, a 500 m² municipal facility, parking, and aims for nearly zero energy consumption.
The solar panels will cover up to 85% of the building’s operational energy needs.
For a private investor, these operations are not direct purchase opportunities, but they contribute to repositioning Manresa as a laboratory for cooperative and sustainable housing. In the long run, such an image can support real estate values, attract a younger, more qualified population, and reduce the risk of neighborhood decline.
Taxation and acquisition costs: What to include in your business plan
Investing in Spain, and particularly in Catalonia, requires a clear understanding of the additional costs beyond the purchase price. In Manresa, real estate taxation depends on the type of property (new or old) and the buyer’s profile (resident or non-resident, small investor or “large property owner” in the Catalan sense).
Old vs. new: ITP or VAT + AJD
For the purchase of an older home, the main tax is the ITP (Impuesto de Transmisiones Patrimoniales, property transfer tax). In Catalonia, the standard rate is now 10%. For a property priced at €300,000, this represents €30,000 in tax, to be added to other costs (notary, registry, lawyer, etc.).
For a new home, the buyer pays VAT (IVA) at 10% plus the Documented Legal Act (AJD), a stamp duty whose standard rate in Catalonia is around 1.5%. In practice, buying a new home for €300,000 therefore entails €30,000 in VAT and €4,500 in AJD, totaling €34,500, before notary and registry fees.
Average percentage of transaction costs to budget for on top of the purchase price of a property in Spain.
New Catalan taxation: Beware of large property owners
Catalonia adopted a decree-law (5/2025) in 2025 that profoundly modifies real estate taxation to address the housing crisis. Several points directly interest investors:
– a new progressive ITP scale for existing properties, with 10% up to €600,000, 11% between €600,000 and €900,000, 12% between €900,000 and €1.5M, 13% above;
– a specific ITP rate of 20% for the acquisition of homes by “large property owners” or for the purchase of entire buildings, except for specific exemptions (small buildings for personal use, social actors, etc.);
– the elimination of a 70% ITP rebate previously available to real estate companies under conditions of rapid resale;
– an increase of the AJD to 3.5% for certain complex operations (notably when waiving VAT exemption).
In parallel, the status of “large property owner” is clearly defined: owning more than 10 homes or more than 1,500 m² of residential space, a threshold reduced to 5 homes in municipalities considered as stressed residential market areas – a status affecting over 270 Catalan municipalities and about 90% of the population, Manresa included.
For small and medium-sized investors, the new tax measures have limited impact. However, they strictly regulate large-scale accumulation strategies, like acquiring massive portfolios or entire buildings for speculative purposes. A critical threshold is set at 10 homes: beyond that, the Property Transfer Tax (ITP) rate jumps to 20% upon acquisition, significantly increasing the investment cost.
Recurring costs and annual taxation
Once an owner in Manresa, one must also anticipate recurring charges:
– IBI, municipal property tax calculated on the cadastral value, generally between 0.4 and 1.1% of this base;
– community fees (HOA), often between €50 and €300 per month depending on the type of residence and services (elevator, pool, concierge, etc.);
– building insurance, around €200 to €600 per year;
– utilities (water, electricity, gas, Internet), €800 to €1,800 per year depending on property size and occupancy;
– for non-residents, the Non-Resident Income Tax (IRNR), which taxes a theoretical rental income even if the property is not rented (between 19% and 24% of 1.1–2% of the cadastral value).
In addition, if actually rented, there is taxation of rental income in Spain (IRPF for residents, IRNR for non-residents), and, where applicable, wealth taxes (wealth tax, solidarity tax) above certain thresholds.
Financing an investment in Manresa: Room for maneuver for non-residents
Access to mortgage credit in Spain is open to both residents and non-residents, including from outside the EU. Conditions are, however, more demanding for the latter, especially regarding down payment and debt-to-income ratio.
Major Spanish banks – Santander, BBVA, CaixaBank, Sabadell, Bankinter, UCI, among others – offer dedicated loans, sometimes via offers aimed at international clients (HolaBank from CaixaBank, for example). In practice, non-residents generally obtain between 60 and 70% of the property price, with a down payment of 30 to 40% plus costs.
Maximum possible mortgage term for some non-resident profiles in Portugal, with repayment required by age 70-75.
For a foreign investor targeting Manresa, the main advantage of local financing lies in the match between the currency of rental income (euro) and that of the loan, avoiding exchange rate risk. The disadvantage, however, is the high down payment required: in practice, one often needs 40 to 50% of the total budget (price + costs) in equity.
How to position an investment strategy in Manresa?
Considering all the data, three main strategies emerge for an investor looking to position themselves in Manresa.
Strategy 1: Rental yield on 1-3 bedroom apartments
This strategy involves targeting small to medium-sized apartments (1 to 3 bedrooms) in neighborhoods that are both sought-after and still affordable (Mion, Sagrada Família – Font dels Capellans, Escodines, Ctra Vic – Remei, some areas of Antic). The goal is to benefit from gross yields close to 8–10%, driven by solid rents and still moderate prices per m².
This is typically a 2 or 3-bedroom apartment, purchased for between €80,000 and €130,000, then rented for between €650 and €900 per month. This rental amount allows for a gross return on investment in under 12 years. The tenant target for this type of property is broad: it includes young professionals, couples, small families, as well as student or young worker shared flats.
The main risk: a slight increase in rental vacancy if supply explodes, but the national context of structural housing under-supply limits this scenario in the short term.
Here, the investor positions themselves in more expensive properties – Poble Nou, Bases de Manresa, Centre – Passeig i Rodalies, Valldaura, Plaça Catalunya, highly sought-after streets – with the idea of prioritizing location quality, solvent demand, and long-term revaluation.
New real estate developments, like Nova Alcoholera or La Llum de Manresa, offer better protection against depreciation, although their gross yields are somewhat lower. They are particularly suited to owner-occupiers or investors looking for a “turnkey” asset for furnished rental.
Strategy 3: Betting on urban renewal and brownfields
Finally, a more opportunistic strategy can involve targeting transitioning neighborhoods or sectors close to major infrastructure projects (tram, intermodal hub, reconfigured railway areas). The idea is to position yourself before project completion, when prices still reflect an image of a “peripheral” or penalized neighborhood due to urban barriers.
Risks are higher here (schedule uncertainties, social acceptance of projects, etc.), but the potential capital appreciation over 10–15 years can be substantial if the announced transformations materialize.
Manresa in the Spanish context: Why this city stands out
On the scale of Spain, the housing situation is described as a “national emergency” by some observers: double-digit price increases in several regions, insufficient new construction (about 100,000 homes per year), a rental market under severe strain with sometimes over 50 seriously interested candidates for a single listing.
The gross rental yield in Manresa exceeds 8%, surpassing the Spanish national average of 5.4%.
For an investor diversifying a portfolio already exposed to saturated markets (Barcelona, Madrid, Valencia, overvalued coastline), the city represents a very solid second-tier option, with a significantly lower bubble risk and proportionally more comfortable rental income.
Conclusion: A market to watch closely and approach methodically
Investing in real estate in Manresa is no longer a peripheral bet. The figures show a market in a catch-up phase, high rental yields, robust demand, and active public authorities. Prices, still reasonable, leave room for growth, especially in well-connected or regenerating neighborhoods.
To secure the profitability of a real estate investment, adopt a rigorous approach: analyze the micro-markets of each neighborhood precisely, factor in all tax costs upfront (ITP, VAT, AJD, notary and lawyer fees, as well as annual charges), properly calibrate the financing, especially as a non-resident, and, if applicable, rely on a property management agency to guarantee long-term profitability.
Manresa is at that particular moment where a market, previously under the radar, is starting to attract the attention of savvy investors, in a Spanish context that is globally very favorable for residential assets. Those who position themselves with discernment could benefit, in the coming years, from a risk-return profile difficult to find in major metropolitan areas.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
