New Year 2019 in Valencia of course and the search for your ideal property might well start now. The first week of the New Year has seen the usual uptick in activity and enquiries with many new clients starting their search for Valencia Property in 2019 and their requirements are wide and varied. Therefore, as a guide to what to look for here are our predictions for places you can find the best value Valencia Properties in 2019 both inside and outside the city.
Firstly we cannot say anything about the best value properties without differentiating between the types of property available. This differentiation gives you many reasons for what we will be saying later in the article.
There is a huge difference between buying a villa in Valencia, a city apartment in Valencia or a townhouse or apartment in one of the towns surrounding Valencia City. There are differences in price, availability and quality in all of them.
If we had to list them in order of value for money then we could start with townhouses in Valencia, move onto villas in Valencia and finish with apartments in Valencia city. You get much more for your money outside the city of course because location is everything in pricing. Where there is a lack of supply and demand is high then prices are inevitably higher than in places where the supply outpaces the demand.
The greatest demand is for apartments in Valencia city from both the local and foreign market. That demand comes from people wanting to live in the “best parts” of the city all the way to investors wanting to buy to let and make their savings work for them. Prices are pushed higher by this insatiable demand so finding the best value for money properties is not always easy in the most in demand areas of the city.
Villas in Valencia
The demand for villas in Valencia largely depends on where the villa is situated. Areas such as La Eliana, Betera, and La Cañada have high demand due to their proximity to the city. When you add in the ease of living in these areas where you have outside spaces, tranquility, parks and facilities to hand, as well as them being within twenty minutes from the centre of Valencia city, then the convenience adds up to a great package but you will pay a bit more compared to other towns and villages.
It is easier to find a cheaper villas the further you get away from Valencia of course. What you need to look for in these areas is the natural beauty of the place, convenience, communications, facilities and obviously supply. It is for this reason that we love Naquera, Olocau, Serra and Villamarchante, all in the Turia valley and all with excellent options to buy villas in Valencia (Click on the links for our pages featuring those towns). They offer all of the above features along with their own charms all put together in a package that means the relationship between price and value is excellent. For foreign buyers coming into the area to look for property these areas all seem largely underpriced.
Once you go even further afield then prices become less and if you are looking for great value but don’t mind travelling a bit further into the city, up to 45 minutes, then we recommend Pedralba, the gorgeous Chulilla, Siete Aguas, and Gatova among others. However, they may have fewer available properties because these places are smaller. If this is something that you are interested in then let us know and we can source the best available properties in these areas for you using our personal property finder service.
Townhouses in Valencia
Villas are one thing but townhouses are another and these often provide amazing value, a lot of square metres for your money, in excellent small towns. Again, the more popular the town and the closer it is to Valencia then the more pricey the townhouse will be. Luckily there are achingly beautiful towns and villages around Valencia, and less attractive places too, that have all facilities to hand if you live in the town itself negating the need to use the car everyday which is a downside of living in a villa at times.
At times you can find great value townhouses in Domeño, Lliria, La Pobla de Vallbona, Betera, Naquera and Serra. You can find amazing bargains in the smaller villages such as Olocau, Chulilla and Pedralba, and also in the more outlying larger towns such as Villamarchante, Cheste and Chiva. They often need refurbishment but they offer plenty of scope to do this work, you effectively get a blank canvas.
Valencia City Apartments
Once we move into the city we have to differentiate between areas. It is here where we all have our favourites and there are good reasons for each area. Obviously Ruzafa is a hip and trendy area to buy but prices have risen by over 100% in the last three to four years so it is now more difficult to find great value property there as demand continues to be high. The same applies in the Carmen old town area and also in the beach area of El Cabanyal.
What we are going to do here then is suggest our five areas of the city for getting the best value properties allied to a great quality of life. What we will not do is just to suggest the cheapest areas of Valencia to buy property. Like any city there are areas that are less attractive to live whether this is because of lack of infrastructure, style of construction (Yes 1960s and 70s I’m looking at you), social issues or general apathy. Those areas might be good for buying for investment purposes if you are looking to rent to tenants but you might not choose them to live permanently.
Five Areas Of Valencia City To Buy in 2019
Our five areas that we suggest offer the best value for money in Valencia city for 2019 are the following:
- Nou Moles
- La Zaidia
Reasons For Buying in These Areas
Monteolivete is a no brainer at the moment. As prices have risen so much and so many people have moved into Ruzafa it has become much more expensive and some would say noisy on certain streets. Is there a possibility that you can have too many hipster cafes? The opening of the Central Park project has made it even more popular now too (Watch out for our January video about this next week). Monteolivete is right next to Ruzafa, has the benefit of being closer to the riverbed park and City of Arts and Sciences and is considerably cheaper. It also has some really nice wide avenues, great traditional shops and excellent transport options.
Nou Moles is an area we really like. To the north of Avenida del Cid and the south of the riverbed park and the Parque de Cabecera, Nou Moles offers good value, excellent communications and ease of access to the city and also to get out of the city. Prices are cheap compared to areas around it yet it maintains a neighbourhood feel. On the charts below you can see that Nou Moles (Olivereta) remains priced really well compared with the average for Valencia and prices only rose there by 7.7% in the year to October 2018
Nazaret is a strange choice but it is chosen thanks to the developments that will be happening over the next few years and the arrival of the metro line in the near future. Despite being by the sea, it backs onto the port, Nazaret is cut off from the Mediterranean at the moment and is sort of an island set away from the rest of the city. The new Levante football club training ground project, the arrival of the metro and the development of the old formula one circuit over the next few years will make it feel a lot less isolated and more of a part of the city. Nazaret also has quite a lot of those really quaint old townhouses looking for redevelopment oftentimes with a back patio for that outside space people often want just like in the Cabanyal but at a fraction of the price.
La Zaidia lies just to the North of the riverbed on the opposite side from El Carmen old town. It is becoming more popular due to the proximity to the centre, the new Bombas Gens arts centre and the redevelopment of older buildings allied to a few new developments. Very well communicated and with apartments that are larger than the norm in a lot of other areas. The facades are not the greatest looking as it was developed in the 70s largely but in terms of value for money you get a good deal. As you can see below La Zaidia had one of the highest price increases last year while remaining below the average price in Valencia.
Campanar lies right by the riverbed park to the North and is divided into two areas, Campanar and Nou Campanar. Nou Campanar as the name suggests, has a lot of new buildings with shared facilities such as tennis courts, swimming pools and gyms and lies next to the soon to be expanded Bioparc. Old Campanar is quite a curate’s egg of a place, there are some great new properties and new developments going up right now, an excellently labyrinthine old part of town and some higher rise developments from the 70s onwards. It is chosen as a great place to buy thanks to the facilities, the proximity to the city and the great transport links along with having lots of nice parks and places to kick back and relax very close. For families there are also a lot of schools around here too.
Buying in Valencia for Investment Purposes
If you are looking to buy in or around Valencia for investment purposes the advice we give you will depend on your goals. For those wanting to buy to let then the percentage return on investment is the most important thing. For those looking for capital growth then trying to find undervalued property that can maybe be refurbished and sold on is important. And there are those who want a bit of both, they are happy to get a slightly lower return on the rental if the capital growth exceeds other areas.
Our top suggestions for those investors are as follows.
- Buy to Let: Apartments in Naquera, Apartments in Benimamet
- Capital Growth: Townhouses in Betera, Apartments in Monteolivete, Villas in La Eliana
- Combination: Apartments in Benicalap, Apartments in Nazaret, Apartments in Betera, Apartments in Naquera
Want to know more about why we make these assertions? Then contact us with your investor profile and we can talk.
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