Uncategorized

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

Category : Uncategorized

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%.

Category : Uncategorized

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.

Category : Uncategorized

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

Category : Uncategorized

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.

 

Category : Uncategorized

VALENCIA – Best bargain cities

IMG-20140322-WA0004-1
Valencia, Spain was hit hard 7 years ago, the property crisis . Now, again, it is a vibrant, accessible, historically interesting and culturally rich city with a beautiful coastline that, inexplicably, has been overlooked as a serious contender for retirement in the region. The cost of living in Valencia is one of its biggest attractions. You can see a doctor for as little as 35 euros, rent an apartment at the beach starting at 350 euros and enjoy a beer in a coastal bar for one euro. A man can have his hair cut (a good gauge for the cost of living in a place) in a city-center salon for 5-8 euros.

Now is the best time in a long time to be paying attention to Valencia, but its real assets are timeless. Thanks to its long and complicated history, Valencia is a melting pot that has evolved to have its own distinct culture that is evident in its language, place names and architecture. Valencians are fierce individualists, though not separatist like their Catalan neighbors to the north.

The weather in this part of Spain is ideal for living an active, healthy and outdoors lifestyle, and this part of the western Mediterranean offers some of the finest beaches in southern Europe, including in the city of Valencia and to the north and south. Valencia’s beaches are well preserved, well maintained and surprisingly unspoiled. The main city beaches include El Cabanal, Las Arenas and Malvarossa, all with Blue Flag status, as well as El Saler to the south inside the Albufera Natural Park. In addition, the mountains are within easy reach.

To get a good sense of Valencian culture, take in a flamenco show. In addition, this city offers many venues for live theater, ballet and music, from the Berklee-affiliated Palau de la Musica (Palace of Music), where you can hear world class jazz and visit hip clubs and bars.

Many museums and other cultural and historic attractions in Valencia are free or offer entrance at a negligible cost (one to two euros). An all-day, all-museum pass costs six euros. This is a city that is proud of its culture, history and heritage, and wants to make it as accessible as possible to residents and visitors.

Valencia is well known for its annual celebrations, including and especially the Fallas celebration every March. The name translates literally as “the fires,” and this annual fiesta has been called the best fireworks party in the world. Over these four days every March, this city is lit up by both fireworks and bonfires burning monstrous-sized satirical effigies.

The bottomed-out property market additionally makes buying a house or an apartment in Valencia particularly interesting right now. At today’s values, you could buy a two-bedroom, two-bath furnished apartment in a historic and central neighborhood for as little as 150,000 euros.

Category : Uncategorized

Valencia’s Port Area.

aaaa beachExtensively modernised for the 32nd America’s Cup of 2007 and then used again for the 33rd edition, the beach goes north from the port area and the Port itself is now the hub of a new plan for a technological park attracting new businesses into the area. Home to Formula One for a few years the area now has great potential, excellent communications with the metro lines coming in from the centre of the city and a brand spanking new superyacht marina. On the beachfront you get the best selection of Paella restaurants in the world and a huge and imposing five star hotel, Las Arenas, backing onto a squat and social housing ;-).

Property in this area known locally as the Canyamelar part of the Cabañal is excellently priced and with great potential for both rental and long term capital growth. Foreign buyers of property in Valencia seem to love the area for its gritty realism, its excellent restaurants and the vibe that is given off.

Category : Uncategorized

Football and property success coincide in Spain

football stTwo years ago, we wrote an article on Spain contrasting its footballing strength – highlighted by Real Madrid smashing the world transfer fee record for Gareth Bale – with its economic fragility. Real ended last season as Europe’s champions for a record 10th time, while rival Barcelona trumped them this year, winning a treble of domestic and European honours. But this sporting success is no longer at odds with the economic news – in fact, our latest forecasts highlight Spain as one of the continent’s hotspots.

Even in 2013, there were signs that Spain was turning a corner after several dark years of austerity and contraction. The economy returned to growth by late 2013 led by improving competitiveness and export growth. The upturn was initially slow, but has since been reinforced by a revival in domestic spending, as unemployment stabilised and then began to decline. By early 2015, Spain had become one of the Eurozone’s most dynamic economies, a sharp turnaround from the doldrums of 2010-13.

The remarkable economic turnaround is led by strong exports and, more recently, a return in consumer confidence. Although economic recovery only began officially in late 2013, the 0.9 percent GDP growth recorded at the end of Q1 2015 now places Spain ahead of some of its fastest growing Eurozone neighbours year-on-year.

The property market is further buoyed by interest from corporates, who are attracted to Valencia and other towns like Barcelona, because of its position as a centre for excellence in sectors such as health, design, research, sport

Category : Uncategorized

Valencia a “phase adjustment” – Positive trends on our costa…..

The market for a 2nd home on the Valencia coast started to show a positive trend mainly due to foreign demand. Valencia, as a whole, is beginning to wake up. We recorded an annual price rise in the 1st quarter of 2015 in the local port region of Pobla de Farnals (Valencia) of about 5 %. The British market grew, in general, about 40 % while the Russian market declined. Chinese bought over 200 properties in 2014. Promoter activity has begun to pick up in the region, aimed at buyers who demand good quality housing with preference for anything on the beachfront, specially Valencia área.farnals

Category : Uncategorized

NIE – The Importance in Spain

NIE Number in Spain, The ImportanceNIE

This personal Spanish NIE number under Spanish Law must figure in all documents that are issued for foreigners who have economic, social and professional interest in Spain.

In case you do not have a number but wish to carry out any transaction of a fiscal nature or with fiscal effects should ask for the NIE number from the local Tax Office, unless they automatically assign a fiscal number and register them in the census of taxpayers. The NIE number has a great number of practical purposes especially with regard to the fulfillment of fiscal obligations and in the granting of official paperwork, like:

Transactions or contracts by virtue of which ownership or real rights over property are acquired, declared, constituted, transmitted, encumbered, modified or extinguished or other fiscal implications.

Category : Uncategorized

Valencia: Why did so many foreigners buy in Spain during 2014

2014 was a good year for sales with numbers increasing 21.6%  year-on-year to 365,342 according to the Ministry of Public Works. The Ministry’s statistics showed that sales to foreigners made up a record 16.7% of all purchases for the year, equating to 61,062 property purchases by foreigners in 2014.

While this record share of the market can be explained in part by the fact that overall transactions are well down in comparison with the years during the boom, it is still an important statistic and one which proves that Spain’s enduring popularity with foreigners is as strong as ever.

The reasons for the high level of foreign purchases are in general terms, the same as ever, with the weather, lifestyle, proximity, healthcare and culture providing the main attractions. There are also factors which have come into play as a result of the crisis: great choice due to high levels of stock, hugely discounted prices and the decrease in the cost of living in Spain.

Buyers from abroad have been encouraged by the improving global economic conditions and, more specifically, those in Spain as well as the fact that prices appear to have bottomed out in the majority of the country’s prime tourist areas and that the amount of high quality stock in these locations is dwindling as investors snap it up.

The Spanish property developer TMR  has recently released a report on what it sees as being the principal reasons for which foreigners buy in Spain. The developer’s study looked at the specific reasons which motivate buyers from four important foreign markets to invest in Spanish property.

For more details get in touch with our office:  www.villasvalencia.com or villasvalencia@terra.complaya

Category : Uncategorized

“Valencia” – Spanish property returns hit double figures

Spanish commercial property showed a 10.1% total return in 2014, a rise from 0.3% in 2013, and the first time the index has reached double figures since 2007, according to new data from MSCI.

The recovery in commercial property total returns was driven by a positive capital growth of 4.2% compared with -4.9% in 2013. This is the first time capital values have increased after six consecutive years of decline.

Industrial was the best performing sector with a total return of 14.4%. Retail was the worst-performing sector but still experienced a total return of 9.7% – a sharp rise from the -1.5% reported in 2013.

Elsa Galindo, senior associate at MSCI, said: “After many years of negative and sometimes cataclysmic return levels, favourable trends in macroeconomic fundamentals seem to have had a positive impact on confidence levels within the real estate sector.”valfoto

Category : Uncategorized

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

Send to Friend

Email Agent