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• Valencia’s competitive property prices attract investors

Spain’s third city is now seeing steady gains and attracting investors following the fall of its property prices and the number of sales transactions during 2007’s property crisis.

Its latest market data shows property sales transactions in Q1 2018 increased by 20% more than the same period in 2017, while the number of foreign buyers increased from 10% in Q1 2017 to 33% in the same period this year.

Property prices in Valencia are currently less than half of those in Barcelona and Madrid on average, reaching €1,743 per square metre by Q1 2018. Prices in Barcelona were at €4,334 per square metre, and prices in Madrid reached € 3,540 per square metre during the same period.

Prices in Valencia have since then picked up, showing an annual growth rate of 13%. The districts most popular among foreign buyers – Eixample and El Pla de Real – saw price rises of 10% and 13% respectively.

Valencia’s growing appeal is confirmed by recent government figures. The Spanish Registrars Association (Registradores) revealed that in 2017, 10% of total sales completed in Valencia were made by foreigners, compared to 6% in Madrid 9% in Barcelona.

Valencia’s manageable size appeals to foreign buyers, along with the beaches to the north-east of the city where the mix of apartments and townhouses with communal pools and play areas make them popular with families.

For those familiar with the city and its recent development, the current buzz surrounding it comes as no surprise. It is now a growing hub for business and innovation and home to leading companies such as Ford, BP, Mercadona and Caixabank.

Communications with the rest of the country and Europe are excellent – you can arrive in the centre of Madrid in less than an hour and a half on the AVE fast speed train whilst recent data shows that Valencia airport arrivals are up by 19% year-on-year to April 2018 with Italians, Germans and the British making up the biggest proportion.

The property recovery has been slower in Valencia than in Spain’s other two cities, he expects to see a noticeable change in the pace of the market over the next few years due to the increasing demand for and supply of new homes.

“Modern homes not only make an ideal primary or secondary residence but are also a great long-term and rental investment. Some of these homes could attract a rental yield of between 5% and 6%.

It will only be a matter of time until Valencia becomes as internationally known as Barcelona and Madrid.

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Spain’s Bouncing Back

Spain’s Bouncing Back

 

We’ve become aware of increasing demand for properties in Spain over the past few months as we are now receiving one or two enquiries a day (much lower than the 2007 peak but higher than the 2012 low). Most of these are for Valencia area… and the coasts.
Please do let us know if this market interests you.

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The value of your H O M E

You want to increase saleability, improving your property always would be a good investment and add value. Here are 10 home improvement tips..:

  1. Redecorate and make simple upgrades
  2. Makeover the kitchen
  3. Add or update bathrooms
  4. Garden appeal
  5. Are the windows up to scratch
  6. Does the layout of your home work
  7. Replace or spruce up tired-looking doors
  8. Would a loft conversion solve space issues
  9. Be energy efficient
  10. Consider creating a driveway

…because spring finally in the air and for some home owners it’s time to start thinking about redecorating or even putting their property on the market, as the new selling season gets under way.

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Valencia – Spain ……..Hotspot – Valencia and Spain’s Golfing Sector Update

……..Hotspot

Hotspots in Spain. Between Valencia and Barcelona are several – ……. more and more overseas buyers.

 

‘The influx of foreign buyers is, in part, down to a growing demographic of savvy younger buyers who are purchasing for both investment and lifestyle. We’re seeing many fewer retirees and more CEOs, entrepreneurs and self-employed who want the flexibility to work from home.’

 

‘The age range of our typical buyer has come right down in the last five years or so – they tend to be aged between 35 and 55, looking either for investment opportunities or for a lifestyle relocation, a trend which is seen continuing for many years to come. Confidence in the market and the Spanish economy is at its highest for some time and buyer have now all but disappeared. This is attracting high-end lifestyle investors to the market in ever greater numbers.

 

Valencia and Spain’s Golfing Sector Update

 

The Spanish Open is inspiring renewed interest in golf properties. The Spanish golf market began stabilising in 2017 according to KPMG. And golf tourism is important to real estate and other sectors.

 

‘The golf industry has been well established in Spain for more than 125 years, with the first club here founded in 1891. It plays an important role in the country’s travel and tourism offering, as well as impacting on other sectors, such as housing. There are several excellent Golf Courses in the Valencia area.

 

‘Andalusia has more golf courses than any other Spanish region, with the Costa del Sol being home to nearly 70 courses and clubs. Known as the ‘Costa del Golf,’ it is one of Europe’s largest golf resort clusters, featuring a range of internationally renowned facilities. The spring and summer months are always a popular time for golfers to consider buying a second home in Spain and the just-concluded Spanish Open has helped to stir up interest in golf properties.’

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Spanish Prime News, Valencia

Villasvalencia News report:  In General..:   that the average price of a property sold  is up by 18 per cent year-on-year to €924,000 from €780,000. Sitges and Marbella and the Costa Brava and the Province of Girona lead the way, but the Valencia region is still one of the favoured one due to it’s soft climate and less rain than in Catalunia.

 

‘International second home buyers have been the most active with notable increases in the numbers of UK buyers returning to the market – accounting for 50 per cent of our sales in the region and 75 per cent of our prime property transactions in the first quarter.’

 

‘Confidence in the market and the Spanish economy is at its highest for some time and buyer concerns over Catalan independence have now all but disappeared. This is attracting high-end lifestyle investors to the market in ever greater numbers. Spain’s GDP growth is projected to grow by 2.2 per cent in 2018, surpassing the growth forecast in Germany, France and the UK. Higher employment, rising disposable incomes and stronger consumer confidence are all facilitatory to property market growth.’ Buying in this sector? Do let us know what you require..?

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Highest Property Price rise in 1o years

Valencia: Highest property Price increase. The property prices in Spain increased almost 5 % over average in 2016,
the highest since 2008 when the increase was almost double.
Overall figures for 2016 released by the National Statistics Institute show new property prices increased almost 7 %
while second-hand homes did so by almost  5 %. This is the third consecutive annual price rise since 2014
and the largest after the property bubble bust  2008, when prices dropped by upto almost 14 % in one year.

In the Valencia region prices increased by almost 2 % on average and a study released claims the price of a
second-hand property in Spain is now more than  € 100.000 less than 10 years ago. In the Valencia region,
prices for the same kind of properties have dropped from € 195.000 to € 104.000 .

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IT’S TIME TO BUY….N O W…… specially Valencia….

A new report from Tinsa, over in Spain, suggests that prices have risen again; for the second quarter in a row. The average property price in Spain rose by 1.4 per cent year-on-year to the end of Q1 2016. That is the second quarter of annual growth. Catalonia and Madrid lead the way with 8.2 per cent and 7.0 respectively. The Balearics at 3.8 per cent and Castilla-La Mancha at 3.5 per cent are next.

 

It comes as CBRE predicts a countrywide average rise of 5.95 per cent in 2016. Madrid, Barcelona,  specially Valencia and the Balearic Islands are tipped to be the best performers. CBRE also predicts a 40 per cent rise in resales and 35 per cent in new home sales with new-build supplies running low in the most popular locationsfarnals

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Valencia: Brits buy older or resale homes…..

‘Brits are turning their backs on new build properties in favour of older, resale homes. We’re seeing a trend in Spain right now for British buyers opting for resale properties instead of new builds. Resale properties now account for 76 per cent of sales, compared with just 24 per cent for new builds. While there is still interest in new build developments from Scandinavian and Belgian buyers, the Brits are all about the resales right now.’

 

‘Many British buyers are looking for dual purpose properties when it comes to purchases in Spain. In the immediate term, they want a great holiday home that also has the potential to earn income as a holiday let. In the longer term, they want somewhere that can act as investment for their golden years, either as somewhere to escape to for a life in the sunshine or as somewhere that will grow their capital so that they can sell it to fund their retirement.’

 

‘There was a time when British buyers flocked to new build developments in Spain. But the financial turbulence of the past decade has had an interesting impact on British property purchases in Spain. Confidence is back and the market is growing at a healthy pace, but the type of property that buyers are seeking has definitely shifted. The attractions of sparklingly brand new homes have given way to the warmer appeal of more homely properties. Location is key too – buyers are focused on the closest airport and beach, the nearest shops and other local amenities.20151217_100716

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SPANISH PROPERTY IS UNDERVALUED by 26 %

Spanish Property is Undervalued by 26% 
 
20151217_100716According to the Organisation for Economic Development (OECD), property prices in Spain are undervalued by 26%, whilst prices in the United Kingdom are 7% overvalued.

The research by the OECD has been running for the last decade and examines property prices against wages in each country.  It then compares this against the long term average for each country.

According to the methodology used by the OECD, a value of 100 shows that property prices are fair value and in line with long term averages.  A reading of 90 means property is 10% undervalued compared to its long term average.  A value of 110 would show a 10% over valuation compared to the long term average.

Spain scores a value of 74 in the latest research, giving an under valuation of 26%.

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Chinese investment in leisure complex near…… Valencia

Reported by EW: oropesaThe Marina D’Or organisation, North of Castellon,  which owns significant empty properties in Oropesa del Mar near Valencia,  attended the CITM, the most important tourist fair in China this year.

Within a few weeks it is reported that Chinese billionaire Wang Jianlin who owns the Dalian Wanda investment company was in discussion with the Owners  of the resort who are looking to sell 75 per cent for a reported €1.2 billion.

The Wanda group through its Madrid office has been investing heavily in Spain over the past year or so including purchasing the Art Deco Edificio España building in Madrid from Santander which it intends to refurbish.

An investment of this type would certainly be in keeping with the company’s strategy and it is possible that it would look to develop the entire area into an upmarket holiday resort including possibly a casino.

In addition to property, the talented Wang Jianlin has also taken a 20 per cent stake in football club Atletico Madrid.

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Chinese – The real estate Buyers in S p a i n

The push by Chinese real estate buyers throughout the world is well established, but now it seems as if they are increasingly targeting Mediterranean nations as well…and mainly Spain.

“What are the primary reasons for this demand growth in Europe’s Mediterranean countries? An extended period of weak property prices in the region has combined with the growing wealth of Chinese buyers to create more opportunities for Chinese real estate purchase than in the past.

Chinese buyers are becoming more comfortable in international markets, and looking beyond the destinations that have traditionally been most popular.

“Attractive lifestyles, affordable luxury property pricing and competitive investor visa programs have added to the appeal. Property marketers have promoted the programs aggressively, implying that citizenship and a European Union passport will be relatively easy to obtain.”

Common factors that bring Chinese buyers to the Mediterranean countries include lifestyle issues in China, the desire to diversify investments and seek greater returns and the search for international educational opportunities for their children.

Spain’s Chinese Residential Purchasing Intent Index has the second fastest growth. This is even more significant given that Spain also attracts the greatest number of Chinese buyers in absolute terms, of all the countries discussed here.

The Purchasing Intent Index is up 88% quarter-on-quarter and 292% over a year earlier.

Over the past year, Barcelona has been by far the most popular destination for Chinese property seekers, …but…..followed by regional capital Valencia, national capital Madrid and the southern beach resort of Marbella. However, in the second quarter of 2015, for the first time, Valencia displaced Barcelona as the most popular destination for Chinese likely buyers.china

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Too late………?

According to the Spanish Property Registrars, property prices are

now rising at their fastest rate since the 2008 downturn

and have recorded a 5.2 per cent rise year-on-year, H1

2014 to H1 2015. As you would expect, there are

significant variations depending on where you look (which

explains why, when we quote such a figure, we get two

responses – ‘prices are rising much more that that here’

and ‘prices are still falling here’).

‘Houses are in demand in Madrid, the Balearics, the

Canaries, Catalonia and the Valencian Community and

this is reflected in prices. Sellers and buyers are adjusting

expectations accordingly. Prices are not expected to surge

but recovery is well underway with a sustained foreign

demand.’ No doubt, many Buyers will, like theirvalencia-premium-turia-gardens[1]

America Property Alerts counterparts, wait another 12 to

18 months until prices are all up and will then come

charging in demanding 50 per cent off deals. As ever, too

late – the savviest buyers are there now.

 

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About Us

Villas Valencia offers properties in Valencia at Spanish prices. What`s more, we don`t charge the buyer (as most other agencies do). We are an English locally run estate agent company dealing with properties in a picturesque area around the city of Valencia.

Testimonials

You are the only agent we dealt with your knowledge of the area and the buying process left us at ease that everything would be taken care of. - Mr & Mrs P, in Naquera

Your advice was clear and brilliant. You completely understood our requirements and objectives, facilitating our new purchase. Thank You! - Mr L, Now living in Lliria

You offered a great service from start to finish, clearly explaining all our options and helping speed everything through. You translated everything we needed quickly.

- Mr T, Second home in Montroy

Villas Valencia was fantastic and exceeded my expectations. I will and have recommended you to others. Thank you for all your referrals for building work. We love our new pool! - Sean, house in Rocafort

Thank you for all the help buying our property in Valencia. With so much to think about, you explained everything well and made it all very easy. Cant wait to move out there fully and enjoy a G & T on our balcony with you.

- Ben, house in Naquera

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