Does Barcelona’s international image help or hinder long-term real estate investment? Do investors view the city as a stable and transparent real estate market? To debate this topic, Iberian Property hosted an Editorial Breakfast, with the support of Cushman & Wakefield, Barcelona Investment Office and Barcelona City Council, which took place on the 1st of October at the new C&W headquarters on Avenida Diagonal.
Among the insights shared, Howard Pierce, Partner at Urban Input, brought a direct and pragmatic perspective, shaped by his experience managing over 4,000 residential units across Spain, 400 of which are located in Barcelona. For him, the distinction between perception and reality is key. “There is legal security in Barcelona — but not enough in housing,” he noted. “That’s where uncertainty arises: when investors don’t know how regulation will evolve or how long-term rent control will apply.”
Howard’s concern reflects a broader industry sentiment: while Spain has strong fundamentals, sudden regulatory changes, especially in the residential segment, often erode investor confidence. “Institutional investors can work with regulation,” he said, “but what they need is predictability. A pension fund can’t plan for the long term if the rules change every election cycle.”
Despite these challenges, Howard’s outlook remains constructive. He highlighted that the demand side of Barcelona’s living sector is exceptionally strong, driven by population growth, talent attraction, and lifestyle appeal. “The base demand is there — what we need is a framework that encourages production,” he emphasised.
His remarks also echoed a common thread across the debate: the need for coordination between the public and private sectors to unlock housing supply. For Howard, stability, clarity, and consistent policies are the foundation for sustainable growth. “The talent is coming, the universities are growing, the companies are investing,” he said. “We just need to make sure the housing market evolves in step with that momentum.”
Howard’s message summed up a key conclusion of the event: Barcelona’s success is not in question — it’s in the making. But delivering it will require a shared effort to turn regulation into an enabler of opportunity, rather than a constraint.