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

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“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

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Why you want to life in Valencia




For years, Spain’s third largest metropolis lingered in the shadow of the country’s “Big Two” (Madrid and Barcelona). But thanks to some snazzy new cultural draws, and rejuvenated old quarters, Valencia has emerged as one of Europe’s most talked-about city breaks. A blissful Mediterranean climate – balmy summers and extremely mild winters – makes Valencia an alluring year-round destination.



From elaborate Catholic processions to sangria-soaked street parties, Valencians love a good fiesta. The annual highlight is undoubtedly Las Fallas – an exuberant five-day festival that marks the arrival of spring. Hundreds of whimsical papier mache creations (called ninots and usually parodying mythical or famous figures) are paraded through the streets and squares, then set ablaze to a frenzy of fireworks. Each year, one ninot is “pardoned” by public vote and displayed at the city’s Fallero Museum (Plaza Monteolivete 4).



Co-masterminded by Valencian designer Santiago Calatrava, this space-age cluster of architectural stunners wows visitors – inside and out. Shaped like a giant whale skeleton, the Principe Felipe Science Museum is jammed with hands-on exhibits that will win over even the most science-phobic kids. The Oceanografic is Europe’s biggest aquarium, with species from the planet’s major seas and oceans, and the Palau de les Arts Reina Sofia hosts top-notch dance and opera. On steamy summer evenings, the Umbracle, a botanical garden-cum-terrace bar, is a place to see and be seen.





“El Rio” skirts the northern edges of Valencia’s historic core – a mesmerising tangle of winding alleys and cafe-lined squares oozing old-world charm. Built over an ancient Roman temple and a Moorish mosque, Valencia’s cathedral is a mish-mash of Gothic, Renaissance and Baroque styles, and shelters what’s purported to be the Holy Grail (the chalice used by Christ at the Last Supper). Next door, there’s a basilica with a majestic ceiling mural, and the Miguelete Tower, a former minaret-turned-Christian belfry, which grants superb views of Valencia. Good panoramas can also be had from the Torres de Serranos and Torres de Quart, Valencia’s two remaining medieval city gates.



Constructed between 1482 and 1548, during Valencia’s “Golden Age”,  La Lonja de la Seda (the Silk Exchange) is World Heritage-listed and described by UNESCO as “an exceptional example of a secular building in late Gothic style, which dramatically illustrates the power and wealth of one of the great Mediterranean mercantile cities”. Visitors can peruse the former trading hall, with its splendid spiral columns, and chill out in a courtyard sprinkled with orange trees.



A stone’s throw from La Lonja – beside the monumental 13th century San Juan church – the ornate Central Market is a feast for the senses. Housed in one of Valencia’s loveliest modernist buildings, this riot of stained glass and decorative tiles resembles a giant deli, with almost 1000 vendors offering all sorts of tantalising goodies, from fresh fish and hocks of cured Spanish ham to herbs, fruit and veg grown on the Huerta (the green belt on the city’s outskirts). Listen carefully and as well as Castilian Spanish, you’ll hear Valencian (the local language, which is similar to Catalan).



Valencia proudly boasts it’s the birthplace of this iconic Spanish dish (pronounced “pah-eh-ya”, not “pie-ella”). While you can savour seafood paellas here, an authentic paella valenciana stays faithful to its peasant origins and comprises meaty ingredients such as chicken, rabbit and snails rather than shellfish. It’s traditionally cooked on an open wooden fire with locally grown rice and only eaten at lunch. Valencians swear their mothers – and grandmothers – do the best paella, but many restaurants offer tasty versions with their ‘menu del dias’ (fixed-price, three-course specials).



You can also eat paella – and delicious seafood – by the sea, a 20-minute metro and tram ride from central Valencia. A string of eateries, including La Pepica – an old haunt of Ernest Hemingway – nudge a palm tree-lined promenade that stretches seven kilometres  along Valencia’s attractive golden sandy shores. The city’s historic port and waterfront was upgraded before hosting the 2007 America’s Cup, and its spruced-up marina is a hub of flashy yachts and sailing opportunities (such as sunset catamaran rides). The earthy backstreets of El Cabanyal, an antique fishermen’s district, hide characterful taverns and colourful, crumbling houses.



Stocked with gems from Spanish masters Goya and Velazquez, plus eye-catching paintings from relatively unknown Valencian artists, the city’s fine arts museum is touted as Spain’s best after Madrid’s El Prado. It’s free to enter. Contemporary art aficionados may prefer the revolving exhibitions of the IVAM (Institute of Modern Art). Valencia has a rich ceramics heritage, and more than 5000 artfully decorated pieces are on show at the National Ceramics Museum, which is set inside a flamboyant Baroque palace.



At times, Valencia resembles a huge open-air art gallery. Walls, buildings and even door shutters are laced with colourful murals and cartoonish graffiti. Some are bizarre and incomprehensible, others are bitingly satirical, Banksy-esque and begging to be photographed. Many reflect on Spain’s nagging economic troubles, which have left the country riddled with debts and a 50 per cent youth unemployment rate.



Street art is one of the quirkiest features of El Carmen, the grittiest, but increasingly gentrified, chunk of Valencia’s historic centre. Springing south from the pretty Carmen church and plaza, a warren of alleys bulge with clothes and curio stores, tapas bars, bohemian cafes, jazz lounges and cosmopolitan restaurants – plus scores of dishevelled buildings in need of TLC. By Carmen’s western limits, at Calle del Turia 62, Cafe del Duende is an intimate spot with sensual live flamenco shows. Ole!



Valencia’s vibrant nightlife is partially fuelled by a potent local cocktail. Agua de Valencia fuses orange juice – squeezed from juicy Valencian oranges – with vodka, gin and cava (“Spanish champagne”). One of the smartest places to try it is Cafe de las Horas (Calle del Conde de Almodovar 1), an eclectic venue near the cathedral. Fancy something non-alcoholic? The ubiquitous horchata is a refreshing Valencian tipple made from tigernuts, water and sugar.



South of a bullring that Hemingway used to frequent, the funky inner-city suburb of Russafa has been dubbed “Valencia’s Soho”. You’ll find a jumble of Middle Eastern kebab shops, Chinese takeaways, down to earth market stalls, chi-chi fashion stores, interior design boutiques, pavement cafes and gourmet restaurants housed in graceful mansions. In the neighbouring Eixample district, leafy Calle Conde de Altea and chic Colon Market have heaps of stylish spots for lunch and dinner.



Unveiled in 1923, this 55,000-capacity arena is the home of Valencia FC – one of Spain’s leading football clubs. The Mestalla’s steep terracing makes it one of Europe’s most atmospheric sporting venues, especially when Cristiano Ronaldo’s Real Madrid and Lionel Messi’s Barcelona are the visitors. Tickets for La Liga matches cost from €20 ($30), and behind-the-scenes stadium tours are also available.



Some Valencians call it “the zoo”. But you won’t find any cages at Bioparc. An exotic cast of African wildlife – think elephants, lions, zebras, gorillas and lemurs – are the stars of this innovative family-friendly attraction on Turia park’s western edges. It’s divided into enclosures that aim to recreate the animals’ natural habitats (notably the Savannah, Equatorial Africa and Madagascar). The daily bird shows – starring marabous and pelicans – are spellbinding.



Birdlife buzzes at Albufera, a lake and nature reserve 10 kilometres  south of Valencia. Cinnamon teals, Northern Shovellers and Grey Herons flutter above this idyllic wetland, which is surrounded by rice fields, citrus groves and golf courses. You can enjoy boat rides on the lake, roam the sand dunes of the nearby El Saler beach or wine and dine at El Palmar, a lake-side village packed with paella specialists.



Valencian vino isn’t as world-famous as La Rioja’s, but the region’s viticultural history dates back over 1000 years, with winemakers producing fruity reds made from the Monastrell, Bobal and Tempranillo grapes, as well as roses and cavas. Wine-tasting tours from Valencia call in at the bodegas (cellars) dotted around the former Moorish fortress town of Requena, 70 kilometres west of the city.



For most of the year, Bunol, nestled between Valencia and Requena, is an easy-going place with an 13th century castle and bucolic mountainous surrounds. On the last Wednesday of August, things get very messy here. Ostensibly a giant tomato-throwing fight, La Tomatina is one of Spain’s most raucous annual festivals. Over 20000 revellers paint the town – and each other – red with more than 100 tons of tomatoes.



Valencia is a handy springboard, with Madrid 95 minutes inland via high-speed train and Barcelona three hours north – though it’ll take longer if you’re tempted by the secluded coves and popular resorts of the Costa del Azahar (Orange Blossom Coast). A highlight is Peniscola, where the 1961 movie El Cid, starring Charlton Heston and Sophia Loren, was filmed. From Valencia’s passenger port, overnight ferries shuffle to the bewitching Balearic isles of Ibiza, Mallorca and Minorca.

Steve McKenna


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What You should know about Spanish Tax

The number of non-resident foreign citizens buying property in spain has increased gradually since 2010 even though the number of sales is still low: they represented 1.28% of total sales in the third quarter of 2014 according to figures from the ministry of development. however, properties are also sold so, as for any transaction, fiscal obligations exist. what taxes need to be paid for the purchase or sale of a property?

When a person, whether spanish or foreign, makes the decision to buy a property in spain, not only do they need to pay for the property, they also need to include other mandatory expenses, like the cost of having the property valued and the applicable taxes

Taxes on the purchase of a property

There are two different taxes depending on whether the property is new or second hand

– New properties

The tax on this property is 10% iva (vat). therefore, on a property costing 250,000 euro, the tax would be 25,000 euro

– Pre-owned properties

The taxation on this type of property is the impuesto sobre transmisiones patrimoniales (itp)  (tax on property transfers) that varies by autonomous community, but it ranges between 5% and 10% of the price of the deed (between 12,500 and 25,000 euro for the previous example). however, the tax office can claim a higher amount if it thinks that the property is worth more than what was paid for it. the tax office in each autonomous community has tables with minimum prices that it uses to calculate the minimum itp a person would have to pay when buying a property

Therefore, an uninformed person buying a pre-owned property may find that event though they have paid 7% tax on the purchase price to the tax office, they may find themselves obliged to pay another amount of itp. this amount would be 7% of the difference between the value of the deed of the property and the minimum value of the property according to the tax office, plus the corresponding interest for the late payment
Fhbrokeror example, on an apartment purchased for 250,000 euro, the itp would be 17,500 euro. if the tax office tables say that this property is valued at minimum 300,000 euro and the corresponding itp should be at least 21,000 euro, it will demand a payment for the difference: 3,500 euro, plus interest

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Valencia – 2015 – Tipped as Potential Property Hotspot

Valencia’s position and Madrid , as a key  tourist destination, mark them out, according to our independent research. Valencia is very popular with overseas visitors, is a business and investment hub has been aided by a government cash injection and been boosted by the success of hosting the America’s Cup in 2007 and the transformation of the City of Arts & Sciences.

Latest figures suggest that the number of property sales in Valencia has increased by as much as 30 % compared to 2013 figures. The región of Valencia has developed into one Europe’s most exciting and progressive cities and is known as the “California of Europe” thanks to its long stretches of coatline, balmy temperaturas all year round, renowned gastronomy, rich cultural heritage and architecture. It is no wonder that Valencia is increasingly becoming a target for opportunistic overseas property investors.

Valencia and Madrid offer foreign property investors 3 key things:

Value for money – Excellent quality of Life – Safe long term investment.

In addition, Valencia is offering a vibrancy and Cosmopolitan atmosphere, hence Valencia will be attractive investment hotspot and appealing mainly to northern European buyers.valencia_fixed

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Why is Spanish so much like English?

The many similitudes (similarities) between Spanish and English are due to Guillermo (William).

Guillermo became better known for his deeds than his illegitimate birth after 1066 AD. Since then, he’s been known as Guillermo el Conquistador (William the Conqueror).

His Norman invasion of Britain on October 14, 1066, saw French become the official language of schools and law courts. And the conquerors imposed the language on the conquered people.

It stayed that way for the next 300 years.

As a result, to this day, thousands of words from the French language are part of everyday English.

French and Spanish are both romance languages, so the left-over French words are a lot like Spanish words.

There are literally thousands of words that you, as an English speaker, will instantly recognize in Spanish. Por ejemplo:

Universidad   Problema   Constitución   Instante  ukspain Aniversario

The great thing about these Instant Spanish Words is that simple patterns let you change English words into Spanish.

There are almost 1066 Instant Spanish words you can use right away.


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Wake up Valencia Costa, it is beautiful

The Costa of Valencia on our doorstep, offers every day that what attracts thousands of people every year to enjoy their holidays or living here. The best to explore the coastal towns from Gandia to Valencia or Valencia to Castellon. If you love taking photographs, these routes are fantastic to catch the sun glistening off the sea, and, if you prefer to feel the sand between your toes, then the Costa has plenty of beautiful little bays, many of which don´t attract many tourists and actually remain unspoilt. Turning our backs on the sea, we are faced with the mountains which offer both hikers and cyclists incredible routes. – Depending on the time of year you can visit the wine Bodegas and watch the grapes being delivered, or if you want to get hands on, help the farmers during cherry, olive or almond picking. The Bodegas will always be open for you. – If you don´t want to spend your time in the countryside, then Valencia provides enough for a fantastic day out…or should I say to live here. Welcome.IMG-20140322-WA0004-1

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9 reasons to work with Villasvalencia Spain

Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are.
(1) Experience & Education: Why not hire a person with more education and experience than you? You don’t need to know everything about buying and selling properties if you hire us.

(2) Neighborhood Knowledge:  Agents either possess intimate knowledge or they know where to find the industry buzz about your neighborhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data .

(3) Price Guidance: Contrary to what some people believe, agents do not select prices for sellers or buyers. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.

(4) Market Conditions Information:  VILLASVALENCIA  can disclose market conditions, which will govern your selling or buying process.

(5) Professional Networking: VILLASVALENCIA Agency network with other professionals, many of whom provide services that you will need to buy or sell.

(6) Negotiation Skills & Confidentiality:  We are top producing agents and negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because we are skilled.

(7) Handling Volumes of Paperwork:  Today’s purchase agreements could run upto 10 pages or more. That does not include the locall- and state-mandated disclosures nor disclosures dictated by local custom.

(8) Answer Questions After Closing: Even the smoothest transactions that close without complications can come back to haunt. Many questions can pop up that were overlooked in the excitement of closing. We don’t leave you in the dust to fend for yourself.

(9) Develop Relationships for Future Business:  Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives VILLASVALENCIA strong incentives to make certain clients are happy and satisfied. It also means that an agent (VILLASVALENCIA)  who stays in the business will be there for you when you need to hire an agent again.  Wehbroker will periodically mail market updates to you to keep you informed and to stay in touch.


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Valencia – Spain: ……… is building again

saplaya “UNTIL THE CONSTRUCTION SECTOR RECOVERS NO ONE CAN SPEAK OF A REAL ECONOMIC RECOVERY IN SPAIN” It is a Spanish prophecy with the weight of this key sector, the locomotive in the economic cycle of the boom years in Spain.

For the first time in 7 years we are beginning to experience those symptoms of recovery.

The sale of homes in the Valencia region grew 20 % , relieving of stock and granting of new licences for the first time since 2006-2007, also refurbishment works are spurring the building industry and refurbishment jobs have gained ground on new building construction and stands at the spearhead of the recovery in the constrcuction sector.

Viewed holistically these figures are living proof that a new slow but sustained recovery tendency is predicted for many months. Also, it is interpreted that, in good measure, this increased activity is due to the growing interest of international investors in the Valencia-Alicante area. Spain has learned the lesson from the past years to never embark on another property boom…!

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Valencia back in limelight “ Americas`Cup with…: 40 SOTO – Valencia World Sailing Championship 2014

soto– 6-12 July

—————- After five days of intense racing, the British boat Ngoni, property of Tony Buckingham was crowned 2014 Soto 40 International Class champion, after achieving a second place in the last race in Valencia. Noticia IV – Burriana Nova, property of Luis Martín Cabiedes finished second position, followed by Pedro Mendonça’s Bigamist.

After 10 races, the British boat finished top position overall with 27 points. Noticia IV, the only one with chances to the crown, ended seven points behind, while Bigamist finally overcame the Portuguese boat Uon and achieved the first position of the podium. John Kostecki, tactician of the winning boat, said: ‘It’s nice to win a world championship! Today it was a good race for us, the guys and the boats did a nice job all week and it’s nice to win. The hardest part is getting good results consistently. It was a tricky good fleet, everybody is very good in this fleet so probably the most difficult part was getting consistent and good starts at the start line. The race area was excellent, it’s a very nice race course. I’m familiar with it from America’s Cup sailing and so is a lot of our crew, so it was fun to be back on that course and it was great sailing’.

The 2014 Soto 40 World Championship was held on July 6-12at the Marina Real Juan Carlos I (Valencia, Spain), place that held two editions of the America’s Cup. The competitors were Alegre (IVB), Bigamist (POR), Earlybird (GER), Glen Ellen XXII (FRA), Ngoni (GBR), Noticia IV (ESP), Santander (CHI) and Uon (POR). We’d like to give our thanks to the Ayuntamiento de Valencia that helped us through the Fundación Deportiva Municipal, as well as the Real Club Náutico de Valencia and the Marina Real Juan Carlos I.

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British Passport Holders: Applicants need to allow 6 weeks for passport renewal

The British Embassy in Madrid  has issued a warning for British nationals wanting to renew or obtain a British Passport that they should not leave their application too late, for their flight to Spain. –  The Passport Office took over the processing of all applications from British nationals. As part of the transition, the  Embassy in Madrid ceased to handle applications last year. – If you need a new British Passport son..(!)..don`t leave it until the last minute. You can make your application upto 9 months before expiry of your current Passport and the remaining validity time will be carried over to the new document.Mywalit_Passport_Holder__57273_zoom[1]

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Valencia has a new bright future

valencia footballVALENCIA: Spanish club Valencia has confirmed that Singaporean entrepreneur Peter Lim is their new owner.

Lim, the owner of Meriton Holdings Ltd, was announced as the majority shareholder following a Valencia CF Foundation board of management meeting between trustees yesterday.

The proposal was unanimously backed by all the club’s 22 board members.

Lim, who outbid four other contenders, including China’s richest man property tycoon Wang Jianlin, is expected to begin his new duties immediately.

Valencia said the plans Lim proposed offered “the best project” and that it was “most suitable to give a great future to Valencia CF”.

“The board also wishes to congratulate all their fans for their patience, commitment and behaviour in recent months,” they added.

Lim had bought over 70.4% of the shares owned by the foundation of the club which has some 300 million euros in debt.

Valencia last won the Spanish football title a decade ago and is 10th in La Liga.

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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.


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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