Investing in Real Estate in Granollers: The Strategic Bet at Barcelona’s Doorstep

Published on March 30, 2026 and written by Cyril Jarnias

Located just half an hour from Barcelona, with still affordable prices and an economic fabric in full transformation, Granollers is establishing itself as one of the most interesting Catalan cities for investing in property. For investors who find Barcelona too expensive or too regulated, this capital of the Vallès Oriental offers a rare compromise: dynamism, decent rental yields, strong housing demand, and major urban projects driving prices upward.

Granollers, a Medium-Sized City with a Metropolitan Profile

Granollers is a municipality of 14 km², densely populated (4,145 inhabitants per km²) and home to approximately 62,000 to 62,500 residents according to the most recent sources. It is the capital of the Vallès Oriental and is an integral part of the Barcelona metropolitan area, located about 30 km from the center of the Catalan capital.

On a socioeconomic level, Granollers combines industrial zones, shopping centers, companies from various sectors, and even some agricultural spaces, now often underutilized. The service offering is dense: hospitals (including the 316-bed Hospital General de Granollers), medical centers, schools, cultural facilities (Auditorium theater, Roca Umbert Fàbrica de les Arts, museums, libraries), high-level sports (handball, basketball, swimming), and a recognized gastronomic scene.

This “complete” urban framework, typical of a small regional capital, is closely watched by real estate investors. It creates a solid demand pool, both for purchase and rental, driven by local assets, families, students, and many commuters to Barcelona.

Demographics and a Tight Housing Market

Demographic evolution largely contributes to Granollers’ appeal as an investment market. Between 2000 and 2008, the population grew by 13%. Projections foresee nearly 68,000 inhabitants by 2033, which is over 6,000 additional residents compared to 2020. The demographic structure is considered “mature,” typical of Catalonia: a narrower base of young people than before, but a significant volume of established households.

What matters more for the investor is less the number of inhabitants than the number of households. Between 1981 and 2001, Granollers went from about 12,800 to over 19,200 households, a +50% increase, while the population only grew by 21%. This divergence—more households being formed than new residents—mechanically creates increased housing demand. The needs had been estimated, around 2016, at between 4,500 and 5,000 new homes to be built.

This chronic underproduction, combined with sustained demand, creates a situation of “real scarcity” of housing, quite different from the speculative bubble of the 2000s. In Granollers, the consequences are visible: a highly sought-after rental market, difficulties for some applicants to find the desired property at a price compatible with their income, and regular price increases in several neighborhoods.

The Fundamentals of Granollers’ Real Estate Market

The most recent data confirms a market in a growth phase, but still accessible compared to Barcelona.

Overall Price Levels

Several sources place the average sales price around €2,300 to €2,600/m² depending on the period and segment considered. In July 2025, the average listing price for homes for sale was €2,391/m², an increase of nearly 12.8% year-on-year (€2,120/m² in July 2024). In another survey from October 2025, the average price reached €2,583/m², up about 7% over three months.

– Average price of apartments: around €2,500–3,000/m²

– Average price of houses: around €2,100/m²

– Average price of a property for sale: about €290,000

The evolution between 2022 and 2025 illustrates an adjustment cycle followed by a clear recovery.

It is clear that houses experienced faster acceleration than apartments in 2025, indicating growing interest in larger surfaces, often with outdoor spaces, in a post-pandemic context.

Rental Market and Yields

In July 2025, the average rent in Granollers was around €10.02/m² per month, down 8.24% from July 2024 (€10.92/m²). Over the past two years, the peak was around €11.34/m² (September 2023) and the low was €9.88/m² (May 2025).

In Granollers, the combination of high rental demand, low vacancy, and prices still below Barcelona creates favorable ground for wealth investment and long-term yield. Specialized sources indicate that the city generates average yields between 4% and 6% depending on the neighborhood and property type, with steady demand for both residential and commercial properties.

A Price Geography: Where to Invest in Granollers?

The city is far from homogeneous. The differences between neighborhoods are significant, for both sale and rental. In July 2025, the price map was organized as follows:

This dispersion offers very different opportunities depending on the investor profile.

Center: Commercial Heart and Spectacular Value Increase

The Center neighborhood concentrates monuments, shops, a rich offering of restaurants, accommodations, medical services, schools, and iconic cultural facilities like the Josep M.ª Ruera municipal music school and the Teatro Auditorio. Although it doesn’t have its own station, the Granollers-Centre station is very close, reinforcing its attractiveness for commuters.

The real estate stock here consists of often-renovated older buildings, apartments, small buildings, and one- to two-story houses. Average incomes are higher than in the rest of the city, which is reflected in prices. In July 2025, the Center posted €2,668/m² for sale, but the trend is even more telling: +31.56% in one year (€2,028/m² in July 2024) and a peak of €2,681/m² in June 2025. Regarding rents, the situation is more stable, even slightly down (€9.85/m², -0.4% over 12 months).

Font Verda: High-End Residential and Premium Rental Yield

Font Verda is adjacent to the Center, well-served by the Granollers-Centre and Les Franqueses – Granollers Nord stations, and bordered by green spaces like Parc Puig de les Forques and Parc de Ramassar. It features villas, larger houses, chalets, and also more modest apartments. Proximity to major industrial zones (Ramassar, notably) and services (supermarkets, schools, training centers) makes it a sought-after area.

Unsurprisingly, it’s the most expensive neighborhood: €2,888/m² on average, with the highest rents in the city (€14.59/m²). This is clearly a “prime” micro-market on the scale of Granollers, targeting a more affluent clientele, often owner-occupiers, but also a rental segment willing to pay more for a green residential setting and a good level of services.

For the investor, Font Verda is interesting if the goal is to secure quality assets in a sector expected to remain attractive. The gross yield can remain competitive due to high rents, despite a higher entry price. New developments like “Balcons de Granollers” confirm the move upmarket in the offering.

Congost – Can Gili: Entry-Level and Revaluation Potential

In contrast, Congost – Can Gili represents the bottom of the range: €1,676/m² for sale and €8.49/m² average rent, the lowest levels in the city. Located in the north, close to the center, this area benefits from the Granollers-Canovelles station, local shops, pharmacies, schools, and some facilities like the Teatro de Ponent or the municipal pavilion El Congost.

For an investor, Congost – Can Gili ticks several boxes: low purchase price, neighborhood undergoing redevelopment, rental demand supported by a popular profile, and good connectivity. Upward pressure on prices could intensify as the urban transformation is completed. This is typically a high-potential revaluation zone, at the cost of a more heterogeneous tenant profile and an environment still in transition.

Sant Miquel – Tres Torres and Instituts – Ponent: Recent Areas and Profitability/Quality Mix

Sant Miquel – Tres Torres is one of the newest areas, with many residences, renovated apartments, houses with gardens, cultural facilities (Museu de Granollers, natural science museum, Cap de Sant Miquel), and the Palau d’Esports, an Olympic legacy from 1992. Prices here are intermediate (€2,113/m² for sale, €10.62/m² for rent), making it an interesting compromise: pleasant setting, good access via Granollers-Centre, solid family demand.

Can Bassa – Palou, La Torreta, La Bolladora, Can Dachs: Families, Tranquility, and Accessibility

Can Bassa and Palou are often favored by families: parks, schools, and green spaces create an environment perceived as safe and friendly. With an average price of €2,155/m² and a rent of €9.74/m², Can Bassa – Palou offers a family-friendly entry-level option, balanced in terms of cost and quality of life.

La Torreta attracts with its lively urban atmosphere, with shops, restaurants, and cultural venues within walking distance. La Bolladora, in contrast, attracts those seeking quiet residential streets. Can Dachs stands out for its modern subdivisions and good connections.

For an investor, these intermediate sectors allow targeting a stable clientele (families, middle class) with a long-term rental perspective and relatively low volatility.

A City Investing Heavily in Its Urban Future

Beyond immediate figures, the quality of an investment depends on the city’s trajectory. On this front, Granollers is pursuing an offensive strategy.

Rail Integration and Track Covering

One of the key projects involves covering the railway tracks at the Granollers-Centre level. The state, via Adif, plans over €21 million in works: about 356 meters of tracks will be covered between Josep Umbert i Ventura and Agustí Vinyamata streets, creating a “false tunnel” accommodating four tracks, covered by a space for pedestrians and vehicles.

Simultaneously, the Granollers-Centre station will be reorganized: relocation of maintenance workshops, new technical buildings (tracks, electrification, signaling, communications), redesigned road access, improved urban connection. The urbanization of the track cover (public space, extension of Torras Villà park, new urban front on Esteve Terrades) will be managed by the city council.

This project will allow the construction of 315 homes, including 108 protected/affordable homes, a significant addition of affordable housing in the city center. For an investor, this operation signals a general revaluation of the station surroundings and improved urban continuity between neighborhoods currently separated by the railway infrastructure.

Granollers 2030 Plan: Green, Inclusive, and Connected City

The city has developed a Granollers 2030 Strategic Plan, implemented via a Municipal Action Program 2023–2027 (PAM) structured around four axes: quality public spaces, opportunities for all, diverse and local economy, and alliance-based governance.

– renaturalization of the riverbed, across about 67,000 m², with removal of 700 meters of asphalt and planting of hundreds of trees and shrubs;

– traffic calming on Avinguda Sant Esteve, with more trees, pedestrian spaces, and meeting zones;

– extension of the biomass heating network;

– deployment of bike lanes connecting the city to Lliçà, to Granollers-Canovelles station, and creation of pedestrian and bicycle bridges (e.g., over the Congost river);

– revision of urban sectors to preserve natural spaces like Terra Alta (sector U);

– “Cultural District” project around Roca Umbert, with a film commission and audiovisual projects.

This type of agenda strengthens long-term residential attractiveness. Greening policies, soft mobility, sustainable energy, or support for the local economy are all factors that, in mature markets, end up being reflected in property values.

Ambitious Municipal Budget and Housing Support

The 2026 municipal budget approaches €124.2 million, slightly up, but with clear priorities: over €2 million for road improvements, nearly €3 million for green spaces, a tripling of investments in children’s play areas, a budget of over €8 million for waste collection and treatment, over €4 million for street cleaning.

In Lledoner, for example, about 8,000 m² of municipal land will allow the construction of up to 200 affordable rental apartments, including a specific program of 57 homes (27 three-bedroom and 30 two-bedroom) designed by the Zubelzu Castro agency, with a budget of €9.25 million and delivery expected around 2027.

These public initiatives play a dual role: they improve housing accessibility for local households and establish a demand base in sectors like Lledoner, while avoiding too sharp a price surge that would displace long-term residents.

A Dynamic New-Build Offer: Opportunities for Investors

Granollers has seen a resurgence in new construction since 2016, with a real acceleration from 2017. In 2026, most announced projects are already under construction, with launch prices around €265,000 for the most affordable properties, and an average price of €278,600 for new builds, a level similar to the resale market in the city.

Some emblematic projects illustrate the types of products and price ranges.

Representative Residential Projects

The focus is on modern amenities: generous terraces, community pools and gardens, garages and storage, high-quality finishes (large-format tiles, parquet floors, fitted kitchens), efficient energy solutions (air-to-water heat pumps, solar panels, LED, home automation).

– increased rental attractiveness to a clientele seeking comfort and energy efficiency;

– less need for renovation in the first years;

– better long-term valuation in a context of increasingly demanding environmental standards.

The price differential with existing properties has narrowed, due to strong demand in the resale market. In some cases, the gap is no longer sufficient to deter buying new, especially for investor profiles targeting mid/high-end segments or renting to expatriates and qualified professionals.

Metropolitan Context Influence: Barcelona as the Engine

One cannot analyze Granollers without looking at Barcelona. In the Catalan capital, average prices are around €4,500 to €4,900/m², with peaks over €6,800/m² in Sarrià – Sant Gervasi and around €6,600/m² in the Eixample. Central and prime neighborhoods have become inaccessible for a large portion of households, pushing demand towards peripheral rings.

For the investor, this “centrifugal push” is an opportunity: it is anticipated that price progression in second-ring cities like Granollers will remain sustained, driven by the combination of Barcelona pressure, improved infrastructure, and the growing appeal of the living environment.

Tax and Regulatory Framework: What an Investor Needs to Know

Investing in Granollers means investing in Catalonia and Spain. Therefore, one must consider both the general Spanish taxation and recent Catalan specifics.

Taxation on Purchase and Ownership

In Spain, purchasing a property typically entails:

– for a new home: VAT (IVA) at 10% + Stamp Duty (AJD), whose rate in Catalonia is now 1.5% under the general regime, but raised to 3.5% in certain cases of VAT exemption waiver;

– for a second-hand home: Property Transfer Tax (ITP), recently reformed in Catalonia by Decree-law 5/2025.

The new ITP scale in Catalonia is progressive:

A particularly important measure for investors is the flat 20% ITP rate applied to “large landlords” (owners of more than 10 homes, or over 1,500 m² of built area, or five homes in a tight residential market area) when they acquire older homes (not subject to VAT). This surcharge aims to deter speculation and concentration of rental property, but essentially affects large institutional or asset-holding players.

Once an owner, one must pay the annual IBI (municipal property tax), whose urban rate in Granollers is 0.91% applied to the cadastral value. To this may be added, if applicable, the wealth tax (for non-residents, on net assets over €500,000 in Spain) and the possible temporary solidarity contribution on large fortunes over €3 million.

Taxation on Rental Income and Resale

Rental income is taxed differently depending on whether the investor is a tax resident in Spain or not:

– non-residents from the EU/EEA: Non-Resident Income Tax (IRNR) at 19% on net income (with deductions for expenses);

– non-residents from outside the EU/EEA: IRNR historically at 24% on gross, but a recent court ruling aligns the regime closer to that for Europeans, allowing expense deductions with an effective rate around 19%;

– residents: taxation under Personal Income Tax (IRPF) with a progressive scale, with specific deduction possibilities for renting out a primary residence.

In case of resale, capital gains are subject to a tax on capital gains:

– non-residents: 19% on the gain;

– residents: progressive scale (19% up to €6,000, 21% between €6,000 and €50,000, 23% above).

New Rental Regulatory Frameworks

Catalonia and Spain have strengthened rental regulation, notably to distinguish long-term contracts from temporary rentals (work, studies, medical reasons) and limit abuses. Short-term rentals must now be justified by a specific and verifiable reason, under penalty of being reclassified as long-term leases.

Rent updates are no longer indexed to the CPI but to more regulated mechanisms, reducing the ability to adjust rents quickly to inflation. Simultaneously, the fight against illegal occupation has intensified, with accelerated eviction procedures, reducing a risk that greatly concerned property owners.

The message for the investor in Granollers is twofold: on one hand, the framework is more protective for tenants and limits rapid increases; on the other, legal security is improving, especially regarding occupations, reducing a major risk for private individuals.

Residential Demand: Sought-After Typologies and Household Profiles

Studies on demand in Granollers show clear preferences regarding housing type.

– About 65% of applicants are looking for apartments.

– Nearly 19% want single-family homes (semi-detached or detached).

– About fifteen percent are interested in studios or small apartments.

Housing size follows a sociological logic:

– single individuals: small surfaces, often studios or 1-bedroom;

– couples without children: preference for medium sizes;

– couples with children: predominantly seek homes over 120 m², or even houses.

In terms of the number of bedrooms, three-bedroom homes dominate (about 43.5% of demand), followed by four-bedroom (26.1%) and two-bedroom (24.6%). Three- and four-bedroom homes are mainly sought by couples with children, fitting well with Granollers’ profile as a family city.

– centrality (44.9%);

– good transport links (42%);

– housing price (40.6%);

– quality of the environment (31.9%);

– profile of the inhabitants (24.6%);

– proximity to family or friends.

For an investor, this data is valuable: it indicates that the most “liquid” properties are three- or four-bedroom apartments, ideally well-connected and in a pleasant environment. New developments meeting these criteria, in the center or in areas like Font Verda, Lledoner, or Tres Torres, should remain highly sought after, both for purchase and rental.

Risks and Challenges: What to Anticipate Before Investing

As everywhere, investing in Granollers is not without risks or complexity. Several elements deserve particular attention.

Supply/Demand Tension and Risk of Overbidding

Catalonia has a structural deficit of new housing, worsened since 2021. According to national analyses, between 2021 and 2025, only 45% of new households could be housed via new construction, with the remainder turning to existing stock or remaining on hold. The consequence, anticipated by major institutions like BBVA Research, is a continuation of price increases on the order of 7% per year in the coming years at the national level.

Financing Costs and Macroeconomic Outlook

At the European level, interest rates experienced a phase of increase to around 4%, then a relaxation towards 2% in 2026. In Spain, economic growth remains robust, higher than that of the eurozone, with a forecast of over 2% growth in 2026. This context supports real estate demand, but the cost of credit remains higher than a few years ago.

Investors using credit must therefore monitor the debt ratio (banks usually require a maximum debt-to-income ratio of 30–35%), rate conditions (fixed vs. variable indexed to Euribor), and any penalizing clauses (early repayment, rate floors).

Catalan Regulation and Strengthened Taxation for Large Landlords

The implementation of the 20% ITP rate for large landlords in Catalonia may cool strategies for building large rental portfolios. Even if this threshold does not affect most private investors, it may limit, in the long run, the development of large rental portfolios, which could prolong the housing shortage and keep prices high.

Property Management, Tenant Selection, and Operational Risks

As everywhere, the success of a rental investment in Granollers depends largely on management: rigorous tenant selection (solvency, history, references), drafting solid leases, coverage by unpaid rent insurance, provision for maintenance (1 to 3% of the property’s value each year).

The vacancy rate generally remains low in tight Spanish areas (3 to 6%), corresponding to 1 to 3 weeks of lost rent per year. It is prudent to allocate a cushion of 5% of rent to cover vacancy and unforeseen events.

Conclusion: Why Granollers Deserves a Place in an Investment Strategy

Granollers combines several key ingredients of an interesting market for a real estate investor:

For a private investor, the most relevant strategy will often involve targeting long-term investments.

Regardless of the choice, success will come from a professional approach: detailed analysis of micro-markets, integration of Catalan tax specifics, recourse to competent local advisors (lawyers, tax specialists, specialized agencies), and a long-term vision. In a Spanish environment where demand durably exceeds supply, investing in real estate in Granollers appears, for those accepting a patient investment horizon, as a rational and well-founded bet.

Cyril Jarnias

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.

Find me on social media: