Savills Report : Valencia – Spain
Posted by chris22 on October 1, 2019 //
Valencia / Spain – A BRIGHTER FUTURE
Spain is the second most-visited country in the world after France. From its wonderful food and climate to its vibrant cities, culture and history, there are many reasons why people move to Spain for a more permanent stake in the country.
The hardships faced by Spain following the Global Financial Crisis are now in the past. The future looks bright as the country’s property market registers increasing numbers of transactions, steadily growing prices and more construction.
Following nearly a decade when practically no residential homes were built, construction activity is increasing. This is mainly in the key cities, but also across the country. This is forecast to increase as more residential permits are granted.
There is growing interest from international buyers, especially from countries in Latin America that share cultural and historical links with Spain.
In a global context, Spain’s prime city markets offer value for money and more growth potential than other world cities.
The country’s status as a top visitor destination, coupled with the high-quality life and low cost of living it offers, will continue to attract buyers and underpins Spain’s lasting appeal.
Valencia is Spain’s third largest city, the home of paella, famous for its beautiful beaches and buildings, and just an hour and 40 minutes by high-speed train to Madrid.
Residential property prices are significantly lower than those in Madrid and Barcelona, which serves to attract investors looking for good rental returns.
Price growth has been slower than some other regions of Spain, with values rising 17.5% during the past five years. Yet, transaction numbers have doubled, indicating an active market. Residential development activity is increasing, a sign that confidence has returned to the market. New building permits being granted suggest this trend will continue.
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