Horta-Guinardó · Barcelona
Rental yield in el Carmel
El Carmel is an affordable area for Barcelona, with a high rental yield and a Total Return above the city average. Here is what a typical flat in el Carmel costs to buy and rent, and the Total Return (IRR) it delivers, compared with Horta-Guinardó and the rest of Barcelona.
Sale price
3,071
€/m² · second-hand homes
Rent
13.1
€/m² per month · SERPAVI legal cap
Gross yield
5.1%
annual rent ÷ price
Total Return
5.7%
10-year IRR · typical flat
Appreciation
+3.2%
a year, 10-15 year history
Household income
€33,190
net, per year · INE
What the data says
El Carmel is a neighbourhood in the Horta-Guinardó district of Barcelona. The reference sale price is €3,071/m², based on registered sales in 2025 (Land Registry): 29% below the Barcelona median (€4,345/m²) and 15% below its district median (€3,603/m²). It ranks 58 of 70 neighbourhoods in Barcelona by price and 8 of 10 within Horta-Guinardó.
The reference rent is €13.1/m² per month (SERPAVI median for the neighbourhood, 2024): about €786 a month for a typical 60 m² flat. Barcelona is a declared stressed rental zone, so that figure acts as the legal cap on a new tenancy (the usual range in the neighbourhood runs from €9.8 to €14.2/m²). The gross yield (annual rent ÷ price) comes to 5.1%, 1.2 points above the city median (3.9%): rank 12 of 70 by gross yield.
With a 70% mortgage at 3.80% over 25 years and a sale after 10 years, the estimated Total Return (IRR) for that typical flat is 5.7%, above the Barcelona median (4.2%). It takes about €75,780 of cash (deposit, taxes and costs), and first-year cash flow after tax is -€122 a month.
Asking prices in the Horta-Guinardó district have grown by an average of 3.2% a year over the last 10 and 15 years (idealista, December 2025). Historical, not a forecast: it is the appreciation the modelled sale assumes. Average net household income is €33,190 a year (INE). 1,277 sales were registered in Horta-Guinardó in 2025, averaging 69 m².
A typical flat in el Carmel
The same standard assumptions as the CasaROI map: change the mortgage, term or tax profile in your account and the Total Return is recalculated for your case.
- Size
- 60 m²
- Purchase price
- €184,260
- Monthly rent
- €786
- Cash needed · deposit + transfer tax + costs
- €75,780
- Monthly cash flow (year 1)
- -€122
- Total Return (IRR)
- 5.7%
Assumptions: 70% mortgage over 25 years at 3.80%, sale after 10 years, Spanish tax resident at a 37% marginal rate, no renovation.
Neighbourhoods in Horta-Guinardó, ranked by gross yield
| Area | €/m² | Rent €/m² | Gross | IRR |
|---|---|---|---|---|
| el Turó de la Peira | 2,936 | 13.0 | 5.3% | 6.0% |
| el Carmel | 3,071 | 13.1 | 5.1% | 5.7% |
| Sant Genís dels Agudells | 2,840 | 11.9 | 5.0% | 5.6% |
| la Teixonera | 3,482 | 13.4 | 4.6% | 5.0% |
| Montbau | 3,621 | 13.5 | 4.5% | 4.8% |
| Porta | 3,585 | 13.2 | 4.4% | 4.7% |
| Horta | 3,965 | 13.4 | 4.1% | 4.1% |
| Vilapicina i la Torre Llobeta | 3,884 | 13.3 | 4.1% | 4.2% |
| la Font d'en Fargues | 4,800 | 14.3 | 3.6% | 3.4% |
| la Vall d'Hebron | 5,096 | 14.8 | 3.5% | 3.3% |
Frequently asked questions
How much does a square metre cost in el Carmel?
€3,071/m² on average, based on registered sales in 2025 (Land Registry). A typical 60 m² flat costs about €184,260, 29% below the Barcelona median.
How much is rent in el Carmel?
The reference rent is €13.1/m² per month: about €786 a month for 60 m². As a stressed rental zone, that figure is the legal cap on a new whole-flat tenancy (room-by-room lets are exempt).
Is el Carmel a good buy-to-let investment?
The gross yield is 5.1% (Barcelona median: 3.9%). With a 70% mortgage and a sale after 10 years, the estimated Total Return (IRR) is 5.7% against a city median of 4.2%. It depends on your financing and tax residency: with your own profile the number can change.
Is el Carmel in a stressed rental zone?
Yes. Barcelona is a declared stressed rental zone, so on a new whole-flat tenancy the rent is limited by the official reference index (SERPAVI).
Buying in el Carmel?
Paste the listing and we tell you whether it holds up at that price: legal rent, taxes, red flags and a verdict.
Sources and method
- Sale: Registre de la Propietat · Generalitat (compravenda 2ª mà, barri) · MITMA city anchor 3865 €/m² (2024)
- Rent: SERPAVI legal cap (Housing Ministry) · typical flat in the area
- Appreciation: average of the 10- and 15-year rates of the area's asking price — historical, not a forecast