No, this is not a blog about Bezos, Musk and Branson and their rather pathetic attempts to go into sub-orbit and call it space travel when their money could do so much more good by solving world hunger or trying to avoid climate change, this is about the flight towards more space in properties in Valencia which reflects the news coming out of other countries.
For those with the luxury of doing so, the pandemic has made us all think about the way we live. Less travel, zero commuting, larger spaces, an office room, fast internet, zoom calls, teleworking and a host of other previously marginal ideas have become mainstream. Of course this has been reflected in the property market in Valencia and Spain as a whole.
The race for space in Valencia has been evidenced in the following ways, people looking for an extra bedroom to convert into an office, people looking for terraces to have outside space, people moving on from an apartment to the suburbs to get more for their money, fewer people around them and gardens and pools and those who just feel a need for something bigger just in case! Let’s look at each case in point.
We have never seen this before now but the greatest demand right now in apartments is for places with three or more bedrooms. Previously the two bedroom, two bathroom apartment reigned supreme but for those living in cities now that extra bedroom or more is important as an office, a study for the kids or for friends or family to stay if there is another lockdown or for longer term visits from the family. The more extra bedrooms the better as long as they are not minuscule.
Currently space and extra bedrooms is winning the battle with central location as the most important factor. When you can combine the two factors then location and space are being sold easily. Our biggest ever sales of a single apartment in terms of space have both been in the last few months with a stonking 575m2 apartment and a 300m2 plus apartment having recently been purchased. We have also been selling whole houses in the Cabanyal with large enough spaces to be converted into apartments but they are remaining as whole houses to allow for that space and one of our clients bought the apartment directly below theirs and joined it to the upper part they already owned, more space, more comfort.
Terraces and Outside Space
A significant factor in the decision to purchase a place in the city continues to be that the property has outside space in the form of a good sized balcony, a larger terrace, covered or open, or a roof terrace where people can enjoy our climate to its fullest. Even common terraces on the roof are attractive and we are starting to see developers putting common gardens, roof terraces and gyms into the plans for their new builds as this demand increases.
Expect a property with a good sized terrace to have a more premium price than a similar place not offering it and don’t expect it to stick around for long, properties with terraces sell quickly. And the closer you are to the roof terrace even if it is a shared area the more popular it is especially in those buildings without lifts where the people on the lower floors will never use the roof terraces but the top two floors may use it for anything from hanging out the washing to setting up a mini gym or doing a spot of semi nude sunbathing (Both seen recently on visits!).
The Flight to the Suburbs
We have talked on these pages before about people moving out to the suburbs and the places that they move to. The move to the suburbs continues apace with the towns of Naquera, Betera, L’Eliana and Villamarchante being particularly popular recently. It’s a very different lifestyle living in the suburbs but not as different as it used to be as the daily commute has largely been replaced by a short walk from the kitchen to the study/office for the days work to start. Internet speed is key and most of these areas have fast, reliable cable internet so working and studying from home is more than possible. Selling properties in the city to move is not difficult usually as the demand in the city has increased from families looking to get a place for their grown up children to live in on their own, see this post for an explanation why prices rose 41% for one bedroom apartments in Valencia in the last year). This feeds the lower end of the market, those selling there are moving to larger places in the city and those with larger places are moving to the suburbs.
Feeling the Need For Something Bigger (Just in Case)
The pandemic has pricked people’s certainties about what is and isn’t normal any more. People felt enclosed, and were literally enclosed for three months last year, and we cannot underestimate what this did to the psyche of people. So many people have commented that they feel a need for space around them, whether that is in terms of bigger properties or more often larger private spaces around their properties, gardens and the countryside.
Also we have heard from people that as long as the internet connection is solid then there is no longer a need for them to have everything to hand and to be surrounded by society. Fear of contagion and contact with others has led people to reduce their social bubbles. This is especially true of people who are potentially susceptible to complications caused by Covid and, guess what, Spain is a big country with plenty of open spaces and plots tend to be larger for older houses giving people that space and feeling of freedom within their own little kingdom.
How does this convert into what people are looking for in their ideal house? Large covered terraces where people can spend time outside with their friends and family when they do visit rather than being inside, gardens with space to set up areas for exercise, eating and off road parking, views and a feeling of openness, people don’t want to be overlooked in general. Luckily there are plenty of places available in Valencia that offer these characteristics, you may want to check out our homepage for the latest selection.
How Does This Relate To You?
If you have these same requirements, these same feelings and are looking for a place that could suit you better than the place you currently live then get in touch with us and tell us more. The first step is always the most important and you can take your first step here. Get ahead in the race before it all goes.
Golden Visa Property of the Week
We are back from holidays mostly but Fallas this week is extending the summer into September this year. However, one of our latest listings is rather cool and fits the bill for those looking for a Golden Visa property whilst also fitting the flight to the suburbs being just twenty minutes away from the city of Valencia by car.
This house is located in a very desirable area, Alfinach is 30 minutes outside Valencia and close to the beach and also to British and American international schools.
This urbanisation has 24 hour security, which might seem a bit over the top, Spain, and Valencia in particular being one of the safest places to live in the world. But, you know if security posts and road barriers are your thing, if you’ve recently arrived from a repressive police state for example, then you’ll
feel right at home. A local town for local people, we’ll have no trouble here.
As for the property itself, its a very un-Spanish looking place. Ok, there is a swimming pool, of course, but it has a roof for year round swimming. It has a nice manageable garden – and a proper garden shed. Even the garage looks like a garage from an American or British suburb.
Inside there are large living spaces with a pool table in the living room. A reading/music room also works as an office space, if only for the impressive background for Zoom calls. No paellero, no olives trees and just a token palm tree.
In fact if you’re worried about culture-shock, this house might be a good fit. An Anglo-Saxon style home transplanted to Spain, complete with pool table and slightly-paranoid attitudes to strangers.
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