The Increasing Difficulty of Finding a Property in Valencia

We have talked before about the rental crisis in the market in Valencia and we have told you that you will have limited options on your purchase if you are clear about what you want because there will never be more than a handful of options available to you at any one time.

What if we told you though that those options are reducing even further? And because of this we will now give you the most convincing case ever for using a buyer’s agent? 

We also present the latest Valencia Property podcast in which we have the third and final part of the Valencia Story of the financial crisis and beyond.


What’s the situation?

Two years ago there were over 11000 properties for sale in Valencia on Idealista, the major property portal in Spain. This week we are touching 4500. And of course there aren’t really 4500. We are finding more and more that when we contact the agent then the conversation goes like this… 


“It’s sold”

Have you got anything else? 

“No, but we have to leave it online as otherwise we are paying idealista a lot of money for no ads!!”


Weird right? 

So after this happened in about 50% of cases last week with agents, developers and private sellers we decided that really there are around 50% of those 4500 properties for sale and of course then there’s the issue of repeat listings. Most properties are not exclusive to an agent and you see repeated various times on Idealista, sometimes at different prices…

What else do you need to know? Lots of agents are leaving Idealista as Idealista has just put up their prices. They are getting to be a monopoly and therefore they are allowing themselves to start putting up the price. For agents with just a few properties then they are getting off the platform. This of course means that there are even fewer properties advertised on Idealista but there are actually more properties for sale… you just won’t see them. 

And here is where your buyer’s agent comes in. 

We know those agents, we know what properties are available and we have a good relationship with the agents in the local area who are members of Asicval, the local estate agents association. They generally let us know when they have something available that may suit our clients because they have made previous sales with us. 

We have written before about how to work with Valencia Property as your buyers agent and it is becoming more and more important to make your appointments well before coming over to Valencia and to let us know EXACTLY what it is that you are looking for. Fill in the form on this post.

However… don’t be surprised if what you are looking for doesn’t exist… 

In the last week only we have had clients with 750k and 600k going home empty handed because what they want just isn’t available at the moment even if they up their price point. (And they could do that) We told them to be patient. Equally we have had a client who bought last year and modernised using our services who keeps telling us that every day they are sure they got the right place for them because they haven’t seen anything better come onto the market since they bought and we found a hidden gem for them (It’s true we did) 

Another thing to bear in mind is that we are blunt to the point of rudeness. If you come to us with a budget of 150k and we tell you that you won’t get what you want in Valencia for that price, because you won’t, then telling us “Well, we have seen various places on Idealista that will suit us!” doesn’t mean we don’t know what we are talking about. It means one or more of the following

  1. It’s VPO and you can’t buy it.
  2. It’s a bank property in a “bad” building and you can’t buy it.
  3. It’s not in a place you’d necessarily want to be
  4. It has “special considerations” meaning it’s occupied or has structural issues such as aluminosis.

Now I’m not saying that 100% there is nothing for sale under 150k in Valencia that is decent now but it’s close. You need to have a budget of at least 200k in the city now and in many areas you’ll need 250-300k to even have a choice.

But…

There is good news. 

I live outside the city and spend most days in Valencia. It’s easy to get into and out of and you can find property in my town, La Pobla de Vallbona, at very good prices. My daughter has just bought a place outside Valencia to the north at a great price and she is in the centre in 15-20 minutes too. Some of our clients have just got some brilliant properties in Ribarroja, La Pobla and other places close to the city. This is the case of most of the towns around Valencia, you can read more about some of these places here

Equally, it might mean that you can actually get a house with garden, pool and more for the same price that you would pay in Valencia for an apartment. There are some great options here and all of them are under half an hour into the city and you will get a whole lot more for your money. Having said that we do have a similar issue with a lack of supply in those towns too. 

Nevertheless you also need a buyers agent here too because you need to know the best towns, the best transport connections, the best facilities, the best areas of those towns, the healthcare, the leisure facilities, how easy it is to get around and more… Also local knowledge is key in these places. We have that of course. 

Will the situation change?

Of course, at some stage there will be more people wanting to sell, there’ll be more availability and prices will change too, either up or down. However, as Covid taught us all, if not now then when? We don’t know when the market will turn, currently prices continue to rise, demand continues to rise and supply is drying up more and more. One of two things can happen then. One, the market stops. Highly unlikely. Two, prices of what is available continues to rise until supply and demand are equalled out. Highly likely.

Until there is a huge flow of sales ready to greet you and give you unlimited choices then the buyers agent job is paramount even if we tell you to wait for now. Even if you go home empty handed you would still be in our thoughts because we don’t like failing to find the right place for our clients. When that perfect place comes up for you we’ll let you know and a video call, the fact you have all your ducks in a row and you are ready to go makes all the difference. You’ll be able to jump on it. That’s where your buyer’s agent is even more important.  


The Rise of Airbnb and More in the Latest Valencia Property Podcast

In this episode of the Valencia Property Podcast, team members from Valencia Property and myself delve into the real estate landscape amid a financial crisis the rise of Airbnb post 2014 and a recent building fire in Campanar.

Dave, Gavin, and Paul, all part of the Valencia Property team, answer questions about their ideal clients, the dos and don'ts for buyers, their favorite areas in and around Valencia, their most gratifying sales, and their top tips for purchasing property in Valencia. They also reflect on their personal enjoyment of the job, offering a comprehensive view of the property buying experience in Valencia.


Golden Visa Property of the Week

A Valencia Property exclusive. This whole house (Left hand side of middle door in main photo) in the Cabanyal is an excellent chance that happens rarely, a whole house available that doesn't require any work at all and is ready to move in. Just over the Golden Visa threshold, this property also has the advantage of being able to divide it into two units if required which would be a studio apartment downstairs and a two bedroom apartment on the first and second floor, again without any work.

This traditional fisherman's cottage has been impressively and expensively renovated with top quality materials throughout. The ground floor has been converted into a large kitchen and dining area with a bathroom, cubby hole bedroom and small back terrace. You have the option of converting this into a studio apartment easily enough as it retains its original deeds from when it belonged to a Semana Santa association as their party house.

There is a hidden stairway behind the kitchen to join up the two floors and it is designed to be easily blocked off if required to have two separate units.

On the first floor, which has it's own stairwell entrance if needed there is a bedroom, study which has been changed from the original kitchen, and living room leading out to a good sized terrace for all of your Valencia sunshine needs. There is also a double bedroom to the front with plenty of space. Up from this is a staircase leading up to the main bedroom and bathroom in the eaves of the building which is a gorgeous beamed comfortable and quiet retreat.

The floors are excellent, all of the windows changed, the facade restored and the location perfect for all of you lovers of the Cabanyal out there (And we know there are a lot of you) Get in quick because this is going to be popular.

Also there is the possibility of buying it almost fully furnished for an extra consideration and there is a garage available too just five minutes walk away for 15k (something very rare in the Cabanyal)


Villa of the Week

Sometimes you walk into a house and you think, this is a "comfortable" house. That goes for this house.

A house you can move into in no time with your children and any pets. It is made to live pleasantly and comfortably with a whole bunch of people, with the living space centred around the huge bright kitchen. The kitchen is directly connected to the terrace. It is a place to meet during the day for breakfast at the bar, a cup of coffee on the terrace or a snack at the end of the day where everyone talks about how the day was. Can you picture it?

The colours the current residents have used are warm and there is a fireplace in the living room, so you can cocoon with the dog on your lap on the exceptional days when the sun is not shining.

On the main floor you will find a master bedroom with ensuite bathroom and walk-in closet, and a room that is perfect to use as an office space or bedroom and a separate toilet.

On the top floor, you have another three bedrooms, all with access to a terrace and a third bathroom.

In the basement you have a large separate storage room and space for the washing machine and a large room to convert into a private gym, game room, studio etc. and a bathroom.

The house's garden was completely renewed last January and is low-maintenance. A swimming pool, carport, and storage space are all present.

The house is on a corner giving you plenty of privacy and is a 5-minute walk to the metro that will take you to Valencia in half an hour and the centre of La Eliana is only a 10-minute walk away.

If you want no hassle and start your new life in Spain right away, schedule a viewing soon.


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