Anything in life requires timing, you get the timing right and you benefit massively, you get it wrong and maybe a great idea doesn’t come to fruition because its time has not yet arrived or you are slightly too late. Buying your Valencia Property comes into that category. The Spanish property market just like any other is cyclical and you should buy on the up, at the base or just before the price drops end but never at the top unless you have a really long term plan.
Where are we on the cycle at the moment?
Well, it depends, we are in different places depending on what type of property and location. One place we are definitely not though is at the top. We have discussed on these pages before the prices over the years, the huge rises of the early 2000’s, the crisis post 2006 exacerbated in 2008 by the financial crisis and the incipient recovery in prices in Valencia city since 2015.
Let’s bring everything up to date and tell you why Valencia might be the right place at the right time right now and let’s do it right here.
Valencia Property Prices.
Prices hit bottom a couple of years ago now. Houses outside of the city are still flatlining on price mostly although there are certain areas such as Rocafort, La Eliana, Betera and others where price rises are now happening. Towns such as Lliria, Pedralba, Olocau and Naquera are still close to base prices reached in the seven years post 2007-8 and sometimes you can find absolute bargains such as those currently on our Naquera property page that are absolutely incredible value. Montroy, Montserrat and Turis are not seeing any appreciable movements in price although some incredible bargains come up every now and again when someone desperately needs to sell.
Valencia city apartments are another beast altogether, demand is huge and in certain areas of the city of Valencia prices are up by amounts as much as 25% in the last year, (Ruzafa and the Cabanyal I am looking at you). Overall prices have risen by 10-15% on average in the last year or so however there are certain areas still keeping resolutely low prices offering bargain property, good potential for future rises and great rental returns, (psst Monteolivete, Ayora, Benicalap)
Why Valencia is the right place.
A few years back we had the Arab Spring and we got a lot of people relocating to Spain, and more specifically Valencia, as life became a tad too dangerous in places such as Egypt, Tunisia and other parts of North Africa and the Gulf. This was especially noticeable among workers in the oil industry who wanted their families out right away so when they were working offshore they didn’t have to worry about the safety of their loved ones.
Then came the mess of Brexit and we got the people who wish to remain members of the European Union upping sticks and moving to Valencia. Of course we needn’t mention the idiocy of the States in electing Russian Agent Trump and we had another influx of refugees from his grubby, small, orange hands. Now we have internal migration in Spain with a lot of Catalan businesses and people moving to Valencia thanks to the absolute mess created by Catalan regional and PP national politicians in the interminable independence drive from those in Catalonia (So far 2216 companies have moved headquarters and in some cases jobs and production from Catalunya to other parts of Spain)
Valencia, previously endemic in corruption when the PP were in power, now looks like a stable haven for progressive politics and a relaxed lifestyle. New bike lanes throughout the city, finishing off abandoned projects such as the metro line to Nazaret from the central market, the Agora becoming the Caixa Forum, the restarting of work on the new Valencia football stadium, the finalising of stage one of the Central Park project and a whole host of smaller community projects such as the renovation of the Cabanyal, mean that the vibe of the city is changing and becoming more and more like the ideal Mediterranean lifestyle so beloved of health conscious people and potential retirees and digital nomads everywhere. A vibrant, culturally alive city with plenty to do and see and excellent communications, Valencia ticks a lot of boxes for a lot of people and, unlike Barcelona and Madrid for example the lifestyle doesn’t come with a huge price tag.
Why Valencia is the right time.
We have talked about the cyclical nature of prices and those prices in Valencia are definitely on the upswing. If you are looking to buy right now you can guarantee that waiting until next year will mean your purchase costs more. If you are from the UK then your pound will inevitably be worth less too making a purchase require a higher investment. Americans it’s not great for you either as Trump destroys international credibility and possibly the value of the Dollar.
It’s worth getting in now for sure even if only for your lifestyle and sanity. And there are already people lamenting not having bought last year on their first visits to the city as prices have risen. However bear in mind what we said earlier, prices in and around the towns and villages within half an hour of Valencia have not risen yet. You can still find absolute bargains. And you may find yourself enjoying yourself just like everyone who visits our little piece of Mediterranean paradise. Check out how Travel Man liked it.
How We Can Help You
As stated in our recent blog post, Valencia Property can become your personal MLS, sniffing out the best properties and prices for you depending on your requirements and desires. There is not much we don’t help out with on your property search including schools, money transfers, location finding and other relocation services. When you ally this to our plot and build service for modern villas we are confident we can be your all in one service for buying property in Valencia. And remember, we now cover Denia and Gandia and soon will be moving into other areas too with local experts bringing you the best properties in their areas.
So, what are you waiting for? Valencia awaits you and a new fulfilling lifestyle awaits you too. It’s the right place at the right time and we are right here, right now, waiting for you.