The Development of the Property Market in Valencia

As a company we have been around for over 20 years now. We have seen trends come and go, a financial crisis or two, people move to Valencia and move out, Valencia become the favourite destination for the international crowd and even a little known pandemic called Covid19.

Valencia Property started in the very early 2000s and when we set up the company with a snazzy looking website, everybody who came to look at property in Valencia wanted a villa with its own pool, garden, garage etc…

We couldn’t have given away apartments in Valencia to tell the truth because that wasn’t what people wanted at the time.

In fact the first time we listed anything in the city in 2002 it was a sixth floor apartment with lift of 100m2 with three bedrooms in Ruzafa priced at 100k. We didn’t have one single visit to it! If I were to be given an apartment like that in Ruzafa today at that price I would have a queue of buyers round the block waiting to see it and reserve it and we could probably add 50-80k to the price too.

Ch-ch-ch-Changes

Things changed when Easyjet and Ryanair arrived in Valencia in the mid 2000s as the America’s Cup organisers demanded that the airport was opened up for visitors to the regattas.

Things actually changed from one day to the next. Suddenly, everybody wanted a city apartment, something to lock up and leave when they weren’t here without having to think about keeping the garden under control and the pool from going green. Cheap flights and plenty of them meant the city suddenly became an attractive destination because when Ryanair said they were flying into Valencia for once they actually did, rather than flying to some airfield 100km away and calling it Valencia (See Girona for Barcelona or Beauvais for Paris).

Then the financial crisis happened. We still had clients of course but not as many. Sales dropped precipitously and neither apartments nor villas were achievable goals.

The Valencia Property Recovery

Things flatlined for a few years and prices dropped up to 60%. But bit by bit the tide turned and people started to realise what great value Valencia could give you for both price and lifestyle. Since 2013-4 the recovery of Valencia has been spectacular. The city managed to get rid of the extremely corrupt PP government and started putting funds into the neighbourhoods and projects to better the life of those living in the city; cycle tracks, the Central Park, pedestrianisation of the centre etc… rather than grand designs and projects such as the now abandoned Formula One track and the still unfinished City of Arts and Sciences.

Things were going great for the city and then someone decided that either a Pangolin looked tasty or alternatively they bit the head off a bat in honour of Ozzy Osbourne (Choose your own origin story) and the World closed down. I wrote last year about what would happen next, all of us had fears, expectations, predictions. Most of us were wrong.

Valencia was shut down from March to June. Lockdown was total. And then we opened up and the Valencia Property market went mad. Everything was selling and prices were rising and guess what? it’s still happening. There is a change though, a major change and it is starting to be noticed everywhere.

As I have written before, anything with a terrace, a garden, a pool and views is in huge demand but only if it has fast internet connection, usually the demand is cable, and one section of the property market is benefitting massively from this demand because it means you have everything to hand, fast internet and a community around you, townhouses in Valencia are the latest trend and they are going fast.

Townhouses in Valencia

As someone who has lived in a townhouse for over 20 years in the town of La Pobla de Vallbona I appreciate the convenience of living in a town; having a sports centre, supermarket and plenty of cafes within 100m of my door, being able to get onto public transport easily, be that the metro into the city or the local yellow buses. It seems the rest of the world is now catching onto what I knew twenty years ago. I’m a very slow trendsetter it seems.

The extra space, the terraces, the gardens and back patios you get in a townhouse compared with an apartment without the hassle of having to look after a garden (I am totally not a gardener) make townhouses a very attractive option because obviously you find them in towns (Duh!!) Fast internet, small town Spanish community and ease of life give townhouses an attraction that is lost oftentimes in large villas surrounded by high walls and without community.

And Here’s The Best Part

Townhouses are massively underpriced compared with apartments and villas on a m2 basis. Over the years your running costs will be higher as you need to maintain the structure of the building yourself as opposed to as part of a community in a block of flats but you have so many options for reducing your daily costs too as you can install solar panels to reduce electricity consumption, you often have a garage space so electric cars are more possible than when you have a shared garage and no plugs and you can install more efficient windows and blinds without debating the look of them with the building administrators.

The Truth About Townhouses

You are often buying a piece of history when you buy a townhouse, many are over 100 years old. However, you should remember that this comes with a price. Many times the houses have been in the hands of the same family for years and let’s just say that maintenance may well have been an afterthought. Typical problems in townhouses include damp, holes in the roof, electrics that wouldn’t be out of place in the Bates Motel and furred up pipework thanks to Valencia’s hard water meaning your water pressure is rather less powerful than required for your modern day power shower.

The advantages however far outweigh the negatives, modernisations are relatively easy and cheap and the location of townhouses are often in the best parts of town when the town first developed, often clustered around the town hall or main church.

Today we are going to look at a few examples of townhouses that we have been putting up on the site recently. There are some fantastic examples of townhouses to be found and as you will see prices are extremely keen.

Albaida Townhouse for Under 45K

Just a 1 hour drive from Valencia and 30 Minutes to Gandia we find an interesting project in the form of this 3 Storey Townhouse, perfect for someone who can roll their sleeves up and take on a renovation, after some extremely heavy rain we have detected a slight issue with damp on the top floor so the roof would need looking at but the rest of the house is very solid and is sold as seen in the photos, obviously the high ceilings, lovely old wooden doors, cast iron chimney and nicer pieces of furniture need to stay but the rest of the tat and the bric and brac has now gone.

So lets take a look, as we enter the property we find a large Entrance Hall, Sitting Room, Kitchen and Dining Area leading to a Rear Patio that needs a BBQ, some plants and a gate to the fields at the back, down below theres a very useful cellar for tools, wine, bikes, and the new Craft Beer project you’re thinking about, whilst up the stairs to the middle floor we find 2 bedrooms, a bathroom that needs to be replaced and a walk in closet which was previously full of scary dolls, finally, up once again to the top floor there are 2 more bedrooms, another bathroom and kitchenette, great as a granny flat or to keep the teenagers out of the way.

Quite a lot there for the price and the average rental in these towns is 500 Euros PCM for a standard apartment so with some minor renovations this could provide a tidy return for any investor, it is currently rented out for 400 Euros and is not even being used by someone who just needed an address in Spain and on top of all that its a negotiable price, so lets hear some offers before its going, going, gone

Requena Townhouse for 58k

This house, built in 1900, is in the cozy neighbourhood of Villa de Requena, the historic old town of this city.

This four-story house is looking for a new family to return it to its glory days and enjoy living in this magnificent neighbourhood, enjoying its narrow streets with whitewashed walls where you will find museums, wineries, restaurants and centuries-old caves.

It does need a good renovation, and you would certainly need an architect to have a look (of course that’s something we can easily organise for you), but some further investment combined with the bargain sale price means for not a huge amount of money you could have a fantastic property right in the centre of this historic town.

It has a laundry room, two bathrooms, a storage room, an interior patio, five double bedrooms, a kitchen, an attic and an exterior terrace. Brilliant old stairways and windows, and a terrace looking out on the church spires and rooftops of the town

Not at All Pokey Townhouse in Lliria For 82K

I had to double check the size of this, 158 m2 is a decent size, but the photos have managed to make it look very pokey. This Lliria townhouse is definitely not pokey.

So instead of wading through those photos, let’s jump forward a few months. The downstairs has been opened up into a large open plan bright area. That bedroom inside the front door is gone and the kitchen has been redone in a light modern finish.

On the middle floor, once all that furniture was gone the place looked so much better. The tiles in the bigger bedroom are amazing, and you’re so glad you didn’t take the nosy neighbours advice and parquet over them, and instead listened to that handsome young man who helped you buy the house.

The office is really comfortable too, 1GB fibra in Lliria town so never any doubt about being able to work online from here.

And the nicest part of the house, the main bedroom and en-suite you put in on the top floor, it really shows off those wooden beams. It leads straight out onto the terrace where the bougainvillea and jasmine is really starting to take off.

And sometimes when guests come round for drinks on that terrace, you show them the photos of the place when you bought it, and they can’t believe its the same place! All you need is just a bit of imagination you say

Solid Townhouse in Ondara for 105k

(ahem) Here we’ll be focussing mainly on the construction and the location. The photos don’t look great, but honestly a few hundred euros and an afternoon in Ikea would add thousands to the asking price of this place.

This townhouse in Ondara is distributed over 2 floors, and the upper floor really has not been taken advantage of yet. All the living and sleeping space is downstairs, the top is some utility space and a large roof terrace. There’s fantastic potential here. Master bedroom upstairs opening onto roof garden for example, freeing up more living space downstairs, a home office perhaps.

Remember we would be happy to help you with advice and recommendations for renovation work as part of our sales service.

If you have a look at the Maps link, Ondara is just outside Denia. Only 7000 people but lots of services and one of the largest shopping centres in the region. Its 10 minutes from the beach, there are plenty of golf courses around, its a few minutes from the motorway and halfway between Valencia and Alicante airports.

This place needs work, but if living in a town community rather than out in countryside or urbanisation appeals to you, then this is good value

The Townhouse That Time Forgot for 130k

Ok, I really want to list this because some of the photos of this place are works of art in their own right. I will discuss some of them below. (Incidentally due to public decency laws I will be using some abbreviations here, like FH, WTFK, FM, GFY and WTAF. And maybe just plain F too)

The first photo below is of 2 armchairs and a fireplace. Harmless right? Wrong. It is a visual full frontal assault. FM I thought I was having a stroke when I saw this. Your eyes run in distress from one item to another seeking refuge. There is none

Photo 2 is a kitchen. In a house. In 2021. FH. It reminds me of those stories magazines in the 1950s would run about houses of the future. The kitchens looked like this. Are we in an american diner? Are we in space? WTFK. Whoever designed this has probably long since passed, but their genius lives on.

Read more about this pretty amazing townhouse on the page we have devoted to it here. It’s in Almenara just north of Sagunto and half an hour away from the city.

Character Property in Ribarroja for 165k

More character than Dick van Dyke attempting a cockney accent and with the added attraction of a chimney for him to drop down, this townhouse in Ribarroja looks good and would look even better if the seller had bothered to send us the requested terrace photos, there are two terraces, from a sunny day. When we visited we were rather bedraggled by the wet stuff coming from the sky, I believe it’s called rain or something like that but as we don’t often see it I can’t be sure, I’ll ask around.

A two floor house in Ribarroja with two bedrooms and a smaller space which could be used for an office or something. Two full bathrooms, living room and kitchen. Well located and ready to move your furniture into because you get away with not having everything left for you “as a gift”* by the previous owner here.

The usual things about a town apply here, plenty of local facilities, cafes, restaurants etc, fast cable internet available, and plenty to do in a town that feels Valencian and Spanish of course because around Valencia we don’t get expat hellholes.

*(Translation: “As a gift” = Here’s a load of junk that I have nowhere to put and no use for which you can sort out the logistics of getting rid of and throwing out)

Courtyard House in Albalat 250k

Did you ever pass a beautiful double wooden door like this in a Spanish street and wonder what’s behind it? Well if the property hasn’t been gutted and ‘modernised’, there will be a beautiful sunny courtyard will terraces above looking down.

This house in Albalat is a property that is increasingly rare to find, it still has the original features of the classic townhouse style. High ceilings, wooden beams, carved wood windows and doors.

Albalat is in L’Horta Nord, surrounded by fields of vegetables and orange groves. Despite the countryside feel, it is extremely well connected. It is 10km from Valencia city, it is on a metro line, and only 3km from the beach.

Ok, this is a project, clearly. And you would need to have a bit of a look around to check it out. Or, in fact, ask us. That’s what we’re here for. However, if you do have the energy and the vision, this is an amazing classic property.

Great Boutique Hotel Potential For Just 300k

This majestic property in Bocairent has just come up as a great opportunity for anyone looking to start a boutique hotel or if you really want to live in the largest house you are ever likely to be ever able to afford.

Set over four floors on the main town square, this area is starting to get a lot of footfall from people looking to spend a few peaceful days in a traditional Spanish town just an hour from both Valencia and Alicante and their airports.

What’s really interesting about this property is that according to the owner it already has the permissions from the town council to be converted into a hotel/restaurant so most of the hard work required by bureaucracy in Spain has already been done!

In addition to the purchase of the property, there is an option to buy a two car garage for an additional 20K

Take a look at the photos and fall in love with this amazing property! We went down there at the weekend to take a look, take some great images of the town and make you a virtual tour to enjoy. Take a look below.

Beautifully Restored Townhouse in Rocafort 325k

Beautiful house in the heart of Rocafort. Fully restored and with a beautiful combination of old and current materials, gabled ceilings with wooden beams and terracotta floors, and in the kitchen area the original tilework has been preserved.

As you can see this is a corner property. The ground floor is composed of 3 bedrooms, living room with built-in wardrobe / cabinet, kitchen with dining room, fireplace, bathroom and access to a terrace.

In the basement we have an exterior patio with an access door for cars, capacity for 2 vehicles (one large and one smaller), a laundry room with an old sink, space for a future cellar with a small window and a large storage room.

On the upper floor we find an open-plan area with a built-in wardrobe, balcony and window to the front and two other windows to the back of the house, a very bright area. There is also a separate room on this floor, possibly for an ensuite / dressing room. This whole floor will make for an impressive master bedroom.

Golden Visa Property of the Week Townhouse 649k

This stunning and totally unique, Palacio for sale near Gandia dates back to the 14th Century (although the original building was erected in the 9th Century!). It has a fabulous courtyard, huge rooms and wonderful original details – but has been reformed, so that it is not just beautiful but also habitable!

If you fancy living in a bit of history with class and style then this restored palace might just tick all of your boxes. 4 bedrooms, 3 bathrooms (including 2, very large en-suites), huge fully fitted kitchen, 3 reception rooms (vast – approx 100 m2 – main reception room, huge salon, study). Exterior arched entrance hallway with store room all set within a plot containing a large, verdant enclosed courtyard

Carry on reading and looking at the images here.

And if you liked this…

Read our other blog entries by clicking on the images below. We cover a huge range of issues around Valencia and Valencia Property on the blog and if you want to know anything more just ask, we are very contactable. Mail us on information@valencia-property.com and we will get back to you very soon.