We have just produced the final episode of the first series of the Valencia Property podcast (You can listen to all the episodes here). We are not finishing with the Podcast we are just going to a new schedule as it has been majorly successful for us as a marketing tool and we love doing it as it gives us more of a connection with our clients. It’s amazing how many people listen to podcasts these days.
So today we are going to look back at what we have done so far on the podcast, tell you where to find those episodes, look at what the podcast has done for us as a company and look at the state of the property market through the lens of the properties we have sold this year, in terms of prices, availability, nationalities buying and a whole lot more.
We are also looking at how we have worked to find that special property for our clients and how the bonus ball is often the one that wins the prize. What is the bonus ball and why does the bonus ball often get chosen?
The main part of the article is all about the podcast and the current state of the market
The Valencia Property Podcast
When we started the podcast we thought it would be something that could help people with questions they had about the process of buying property in Valencia and Spain. What we didn’t realise initially was that the podcast would have the reach it has on all podcast platforms, and also on Youtube, allowing people to listen to us in so many different ways. We have heard from people who listen to my dulcet tones on the commute, on the treadmill, while out walking the dog and even in bulk on a long car journey (17 episodes at that point.) We were happy to have people sharing it with friends they thought it might help (Go on do it) and we were glad to find that we had positioned it well as something that gave confidence to people coming over that they had found the right realtor for them to work with as we demonstrated knowledge, empathy, a sense of humour and experience. The podcast has been listened to on every continent (Apart from the Antarctic) and in 41 countries. The top listeners are as follows.
I also love that in the last month our fifth biggest listening country was… Lithuania! We must have some superfans there.
And at the tail we had Greece, Ghana, Georgia, Denmark, The Czech Republic, Ukraine, Colombia, Panama and Hungary with one person listening in each of those countries (I think it might have been Monika in Hungary, so hello there Monika).
In terms of the benefits to our business the podcast has encouraged people who might not read the long form articles to come over and peruse our blog and property listings, it has definitely gained us clients who have bought properties and it has given people an initial connection with us before coming over to look for their own Valencia Property.
We have covered all of the major themes that people worry about, using a lawyer, transferring funds and making sure you are not ripped off, getting a mortgage, how we get you organised for buying here, what it is like living in Valencia, how to find out more about Valencia, timelines for buying, Brexit and Brits and even God Bless America. Yes we have covered a lot. We have also answered loads of individual questions and have been contacted by people to have a one on one consultation with us about their impending move. We have been sent hundreds of potential properties by clients planning their trip over and given honest feedback about their choices. and we are going to continue to do this and more when we return next month.
Another thing we have done on the pod is that we have looked at the market and we are going to do that again right now. What are our clients buying? What’s happening with prices and supply? What are the perspectives for the next few months?
What’s Happening in the Valencia Property Market
(May 2022 Edition)
Firstly, we have now sold more properties this year than we did in the whole of 2021, and that was a very good year for us. The average price paid so far this year has been 262k a slight dip from last years average of 266k but that was affected by a major outlier at the top end so average prices have risen with the median price being over 10k up on last year. 80% of our sales have been for apartments in the city of Valencia itself and 20% for townhouses, apartments or villas outside. 40% have been in the 100-200k bracket, 23% the 200-300k bracket, 19% in the 300-400k bracket and the rest, 18%, above 400k with the average in this bracket at 489k.
Most clients have bought a single property of course but we have had two clients buying two or more and others buying a second property to complement one they already had for Golden Visa and rental income purposes. Regarding nationalities our number one client base this year so far is the Netherlands by far with the USA and UK neck and neck for second place with the USA just edging it at the moment and pulling away in the last week. Other clients have been from Ireland, The Czech Republic, Australia, Israel, France, Hungary, Germany, Canada, Belgium, Poland, Jordan, and yes even Spain. We do get an international crowd here.
We are seeing prices rising still and it is very difficult in the city to get discounts off asking price. There is a rise in scammers, obviously we covered this on the podcast so be careful out there, and the supply is getting even more scarce with 40% fewer properties for sale than at this time last year. What’s the lesson? Well it all starts in the paradox of choice and of course we have a podcast about that.
What have the clients bought though? Well in most cases it wasn’t the property they thought might be the best before visiting. It is often the bonus ball and that is what we are going to quickly talk about today.
The Bonus Ball
We spend a lot of time preparing our clients for their visit and their purchase with introductions to everyone they may need to speak to, video calls, back and forth about requirements and a whole lot more. However even doing this and maybe because of the timelag between first contact with us and their actual visit it is rare that someone buys the property they got in touch with us about initially. That’s because the market is moving so quickly. If you like something then it’s likely that plenty of other people like it too and therefore by the time of your visit it’s gone.
This is why it’s so important for us to know the type of property you want so we can plan an itinerary for you to look at places while you are here. Your choice may be limited by availability, that paradox of choice again, but we hope to show an excellent selection that corresponds to your requirements. This itinerary is made up in the few days before we start your visits and may change up to the morning of your visits and this is where the bonus ball comes in.
The bonus ball is the property that has just been released onto the market but we know will suit you because we know exactly what you want, it’s the property that we cannot publish because the owner doesn’t want it to appear online for some obscure reason, it’s the one that we cannot photograph because it’s such a mess, it’s the one that we have as an afterthought after visiting others and getting feedback from you, it’s the one that ticks every box but even we didn’t know about it until the day before or even that same morning.
It’s a nice surprise and it does the job.
It might also be the one that we haven’t even seen yet because it’s our first visit too. The bonus ball is a surprise and often it’s a nice surprise as opposed to a “what are we been shown this for” surprise.
Bear in mind though, there is not always a bonus ball there, and that’s fine. A bonus ball might arrive after you have left but because of what we lernt about you and your requirements while you were here it suits you perfectly and a videocall from the property might be something that allows you to make your decision based on that call. A bonus ball is never guaranteed but often appears. A bonus ball might even be Kismet or Karma. Hopefully we can find your bonus ball when you have your visit with us. Plenty of others have this year so far.
Property Market Perspectives for the Summer
The numbers of clients on the ground continues to rise and therefore there are no shortage of prospective buyers for the decreasing number of properties that are available. There are certainly potential clouds on the horizon in terms of interest rate rises, the cost of living crisis and the World economic situation but demand remains high because as we have talked about before on these pages, Valencia is in vogue. Viewed as more affordable than Barcelona and Madrid and with a better return on your lifestyle Dollar/Pound/Euro or whatever, Valencia continues to be high on people’s priority list of places to be.
This demand may only increase with the passing of the Digital Nomad Visa, if and when it happens in the next couple of months. At that point the numbers of people looking to leave the UK might make us remind people to turn the lights off to the last person to leave.
Valencia Property Of The Week
Difficult to choose this week so we have gone with a few. The first is a villa in Naquera that divides opinion among us. Dave loves it whereas I can take it or leave it. Take a look and see what you think.
Naquera Family Villa
Better Than Grimsby
-Where are you going on your summer holidays this year Roger?-
-Rented a 15m2 caravan down in Grimsby Bernard, me, the wife and the mother-in-law. You?-
-Oh just off to my 3-storey house on the Med Roger-
-You´re a b***tard Bernard-
Grimsby might be lovely, never been so can´t confirm either way (Editor’s note: I’ve been there, it isn’t!). I can confirm that the Med is lovely, year-round lovely in fact. And 50 metres from your doorstep you have what is as close to a private beach as is possible without having you know, an actual private beach.
Bega de Mar is a 30-minute drive from Valencia, and a beautiful one at that, where you pass through the Albufera natural park. You might even get lucky and see a flock of flamingos.
The house itself as Bernard mentioned has 3 stories. A garage that has been converted into storage space at the front and a bedroom behind in the basement, living room, kitchen, bedroom and bathroom on the ground floor and 2 more bedrooms upstairs. Also, there are two fantastic patios front and back for you to enjoy/avoid the sun depending on the time of day.
Dunes, a nice quiet beach, kite-surfing if that’s your thing too.
Don’t be a Roger, be a Bernard. Get in touch and we´ll arrange a visit.
El Perrelló Frontline Apartment
Relationships can be hard. One minute you think everything is rosy and the next you´re having to sell your beachfront property because it´s in both your names. Well as Francis Bacon once said “The misery of one man is the fortune of another”, and at Valencia Property as we say “Viva el divorcio!”.
The town of El Perelló is hugely popular with Valencians and for a good reason as they can spend their summer months commuting for work while having their evenings beachside. Just 25 minutes from Valencia city this apartment is front-line with stunning panoramic views of the mediterranean sea. This area is popular with surfers be it traditional, wind or kite, and on the other side of town, you have the rice fields of the Albufera with its charming walks and spectacular sunsets.
So let us raise a glass and toast those petty arguments that chip away at the foundations of once-solid relationships, and let the late great Tammy Wynette have the last word… “D-I-V-O-R…….”
The Final Podcast of Series One
We introduced the concept of the bonus ball in this episode but we also answered a huge amount of listener questions. Have a listen yourself below.
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