Normally you get articles on Mondays but today is a Tuesday post because it was my birthday yesterday and I decided to do no work. Now the truth is that December will mean not doing anything on many days because that is what happens in December in Spain. In this post we will tell you about the latest news from Valencia in terms of property, mortgages and inevitably, and unfortunately, Covid, news about holidays this month and our Golden Visa Property of the week too. We will also talk about illegality. Enjoy.
Valencia Property News
I hate to use this term but when it’s true it’s apt. Property continues to fly off the shelves. Talking with agents in and out of the city we get the same response, limited supply because everything is selling and difficulty in getting listings.
Things that are priced well go very very quickly and as I have explained before, your requirements are probably similar to other people’s requirements and therefore if you see something you like three months before you come to visit then it’s unlikely that it will still be available when you arrive. This also has an effect on what you can offer. You can try to get a deal by offering lower than the asking price but when an owner has a queue of people looking to visit then it’s unlikely that they will accept low offers as they know somebody will come along at or around asking price.
Nevertheless, sometimes less is more. A more concentrated set of requirements mean it is easier for you to find what you are looking for of course. Take a look at our article about the paradox of choice here.
Apartments in the city of Valencia continue to be the most popular listings but apartments in the towns surrounding the city on the metro lines are getting more and more love along with townhouses in those areas. Take a look at our article about apartments, townhouses and villas here.
This month we have sold a Cabanyal townhouse through a quick video to a remote client in the States (They had previously been over and loved the Cabanyal area and we knew exactly what they were looking for) and that is what we mean when we say make sure you are ready for buying a property once you know what you want (NIE in place, bank account open, POA for a lawyer in place and that we know exactly what you are looking for, fill in the form in this post to help us with that, etc…) We have sold apartments overlooking the riverbed park, in La Zaidia, in the Old Town and in the Cabanyal along with villas in L’Eliana and La Pobla de Vallbona.
We have talked before at length about the importance of employing an independent lawyer for your Valencia property search and this has been demonstrated in the last week. A property that was interesting for one of our clients turned out to be less than ideal. An illegally constructed and modernised garage/guest house, a main house double the size of the official deeds and to top it all off built in a national park so it couldn’t be legalised even if the owners were willing to do it (Which they weren’t)
It turns out three strikes and you’re out.
Now, the lawyer said his advice was to run away, far and fast, but he couldn’t stop the client from buying it if they wanted. He demanded that if they insisted then he would want a contract signed in their blood confirming he had advised them not to buy. They decided against it of course but not without a struggle and lots of soul searching. I find it amazing the tug a property can have on people’s heartstrings even when illegal. It just shows how we are ruled by our emotions and underlines the necessity of employing a good lawyer to protect you from yourself at times but mostly from sellers telling half truths and maybe even outright lies. Buyer beware so listen to our advice but most of all your lawyer’s advice.
We have written a full guide to getting your Valencia Propety mortgage on these pages, just click the link or the image below to be taken there.
More and more people are seeing the advantages of getting a mortgage on their Valencia Property recently. One of the reasons is that the banks continue to offer generous mortgage terms and in a scenario where inflation is starting to run riot through Western economies because of money printing to support people and businesses during the pandemic a 2% fixed rate mortgage over a period of 20 years is seen as a very attractive hedge against inflation.
Valuations are holding up well too, only last week we had two valuations at over 10% above agreed sale price meaning the banks and valuers do not see the market as being overheated Typically clients are being offered 60% of the value of the property but some have been getting 70% mortgages too. The majority of our clients looking to get a mortgage have been Americans and these mortgage rates are seen as extremely cheap compared to what they are seeing in the States.
If you are looking to get a mortgage read about our mortgage providers in this post.
Covid is back in Spain. It never went away of course but numbers were really low for a long time. Hospitalizations continue to be low though largely due to the huge population of Spain that is vaccinated, now over 89% of people over the age of 12. The numbers going up are concentrated especially in schools where children are mixing. Luckily when they take it back home their parents and, more specifically their grandparents, are vaccinated and people over 60 have had a booster jab too.
On the street everyone continues to wear a mask if they cannot guarantee maintaining distance of 1.5m and masks are obligatory in enclosed spaces. Terraces are still extremely popular despite us having had a cold and wet week last week. Valencia has introduced the Covid passport for admittance to events and restaurants etc from this week so make sure you have your vaccination status and records of your shots on your phone when you go out. Double vaxxed or single with a Covid recovery in the past is sufficient.
We are going back to your requiring a car to make visits outside the city with us rather than you accompanying us in our cars. This was especially relavant last week as I had a cold and was sneezing and coughing lots and wouldn’t have wanted to scare people in the car with me even if I had a mask on (It wasn’t Covid but the family had a couple of cases of Laryngitis which is bad enough) Make sure you have Whatsapp installed on your phone so we can share locations to meet.
Valencia Property Holidays
It’s difficult to get into properies in December because of the holidays of course, essentially December is a winding down month for many.
Offically there are holidays on the 6th and 8th of December meaning the 7th is a holiday too and there is a weekend before so things are stopping from the 4th to the 8th of December and we are not showing houses on those days.
Xmas Eve and Xmas day are essentially holidays too and the 26th although not a holiday is a Sunday this year so things will be shut down then too so forget the 24th -26th December. The week between Xmas and New Year is down time mostly and New Year’s Eve and New Year’s Day are holidays.
We go into January though here too and the 5th of January is when the Kings arrive bringing presents to increasingly less gullible kids and the 6th is a Holiday before the kids go back to school on the 7th normally. However this year the kids will be back in school on the 10th as the 8th and 9th are weekend days so even if they have to go back to school most kids won’t for one day on the 7th January, they will still be away with their parents.
Valencia December Events
The town hall square of Valencia in its newly mostly pedestrianised state is the centre of the festive events along with Viveros gardens and the covered markets. The town hall has the usual ice rink outside, illuminations, music and more over the month of December.
Viveros park has an interesting light show every evening from 6pm where the park is lit up like a grotto. However there is some annoyance in the city as a public park has been taken over by a private company and they are charging between 12-15 euros per person to go in (Even worse the company is Catalan some idiots are saying) It’s basically a massive Instagram opportunity for the kids and “Influencers” I think.
The covered markets, Central Market, Colón Market and others, have events planned during the month to attract you to come and spend time there while shopping as do most of the shopping centres where you can meet Father Xmas before he doesn’t leave you any presents because it’s the Kings who do that job here and you will get to enjoy (sic) endless versions of Los Peces en el Rio and of course Last Xmas by Wham in the background of your consumerism gone wild.
Golden Visa Property Of the Week
Today we head down to Denia for two villas for the price of a single slightly larger villa 😉 Could you throw a stone 400 metres? Well if you could, then here is a villa just a stone’s throw from Les Marines beach on the edge of Denia town, halfway between Valencia and Alicante. Its actually a double villa, the first is 110m2 and there is also a guesthouse of 88m2.
The main villa has a porch access to the house, a spacious and cozy living room, separate kitchen, 2 bedrooms, one of them with an en-suite bathroom and another complete bathroom, and the garage can be directly accessed from within the house.
The guest house has a living room, separate kitchen with electric barbecue, a laundry area and exterior access to the master bedroom with views of the garden and pool. It has a dressing room and en-suite bathroom.
The two houses share the pool and garden and the property faces south. Throughout both houses are double glazed windows, mosquito nets, top quality electricodomesticos, stoneware floors and flooring.
So some options here. Use the second house as a really comfortable accommodation for visitors from home, or you could in fact rent it out to tourists, if you don’t mind sharing the pool and gardens. Just short-term lets in as they wreck your head then at least you don’t have to put up with them for long. Or just keep the whole place for yourself. Exernal staircase to the master bedroom in the guesthouse sounds great in the summer, and then in winter back to the cosiness of the main house.
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