GARBE Urban Real Estate Spain is further expanding its activities in the Spanish housing market: The company has acquired two plots of land of around 2,500 square metres in Santa Perpètua de Mogoda in the greater Barcelona area and will realise 50 publicly subsidised rental apartments with a planned total living space of around 4,300 square metres there. The building permit for the project has already been obtained. Construction is expected to start by the end of the year.
“With our second residential construction project in the greater Barcelona area within a short period of time, we are consistently continuing the expansion of our Spanish business. Our goal is to expand our activities in the most important Spanish metropolitan regions in the long term and to cover different segments of the housing market. This includes both privately financed and publicly subsidized apartments,” says Christoph Reschke, Managing Director of GARBE Reside. “Barcelona is an important starting point for us. At the same time, we are already working on further acquisitions, including in Madrid and Valencia.”
Subsidised housing in a region in high demand
Santa Perpètua de Mogoda is located in the Barcelona catchment area and is well connected to the metropolitan area by public transport and road network.
With the 50 subsidized rental apartments, GARBE is responding to the high demand for affordable housing in the region. Current data from the Spanish research center Observatorio del Alquiler shows how tense the rental housing market is: In the province of Barcelona, an average of 418 interested parties were offered for rental apartments within the first ten days in the second quarter of 2026 – the highest value of all Spanish provinces.
“The greater Barcelona area is one of the regions where the high demand for additional housing is particularly clear. With our project in Santa Perpètua de Mogoda, we are creating subsidized rental apartments in a well-connected location,” says Sven Schoel, Country Head Spain at GARBE. “The fact that the building permit has already been issued allows us to get started promptly. At the same time, the project is a further step in the development of our residential real estate business in Spain.”
Second residential development in the Barcelona metropolitan area
In Barcelona, GARBE is already realizing a residential complex with 113 privately financed apartments. The project on a plot of around 3,200 square meters is located in the Prat Vermell development area between Plaça Cerdà and Zona Franca. Completion is scheduled for summer 2028.
