Valencia Property Blog

We completed our first sale of the year today at the notary and also took a client to a second visit of a property they are very interested in up in Naquera. This week has also included the acceptance of an offer for a place in Valencia City for our highest ever sale price in the city.

We currently have three sets of clients here looking for the Spanish Golden Visa and their ticket into the Schengen area through purchase of property in Spain, one American couple, one Australian and our first British clients taking this route to maintain their freedom of movement (They didn't previously need it of course). We also have clients here looking at lower priced investment properties, people looking to set up their businesses here, in certain cases moving them from the UK into the Euro Zone or from the Far East and plenty of enquiries from people desperate to visit but currently experiencing lockdown in the UK, Netherlands, The USA and Belgium. We spemt the latter part of last year making a lot of rental contracts for British clients wanting to establish residency before the Brexit cutoff and they will be buying in the spring once their rentals run out.

There is no doubt there is a market for the right properties and when you ally this to our unrivalled personal service and negotiating savvy there are some great deals out there.

A Place in the Sun Features Valencia

On Wednesday 13th January Valencia was featured in A Place in the Sun on Channel Four and you got to see this wonderful property in La Cañada with the wonderful Scarlette Douglas being shown around by me (Graham) The programme is available on C4 Player for a week after showing it and thereafter on the Channel Four website probably before resurfacing intermittently on More 4 etc... over the next year. It was recorded just two months ago and as you can see it was a lovely week for filming. The clients on the programme were looking for something a bit simpler in the Valencia region at around 130k Euros. We have plenty of properties around that price on our website. Just do a search to find your perfect Valencia Property.

Mortgages Just Got Cheaper

According to an extensive report in El Economista, mortgage availability in Spain has just got a lot cheaper as banks are falling over themselves to help finance properties. Fixed rate mortgages are now available from just 1% annual interest rate. These offers tend to be for the easiest clients in the World who are residents of Spain and looking for lower percentage amounts of the full cost but anecdotally we are seeing rates between 1.5% to 2.25% fixed over periods up to twenty years for our clients at the moment.

If you are looking to getting a mortgage you might want to study getting a pre-approval before you find a property. Our friends at Mortgage Direct, based here in Valencia, are finding lots of banks ready to offer foreign clients and non residents mortgages on properties. There are some limitations on mortgages on rustic properties with certain banks and of course you have to be able to prove affordability but as one of our clients recently said on getting a mortgage at 1.75% fixed over twenty years "Virtually free money. I can handle that!"

Katherine Walkerdine from Mortgage Direct

Prices of Property in Valencia

The same report in El Economista found that bank lending fell just 3.3% in 2020 which is a minor miracle as the country was in total lockdown for almost three months from mid March. This of course means that demand for property and mortgages was very strong in the second half of the year.

Their property price report found that prices were stable in Spain in 2020 despite expectations that the Covid19 pandemic would decimate prices. Again anecdotally our average sale price rose by around 20% last year but this is affected by more higher end sales in Valencia.

We have been following prices inside and outside the city assiduously of course and believe that prices are pretty stable in most areas as indicated by the price report you can see here on idealista for Valencia City. There was a generalised price rise of 2.5% in the last 12 months in Valencia according to these figures however we are still 23% below the maximum prices found in the city in 2008 before the financial crash.

Average Prices in Valencia City in the last five years according to idealista

Golden Visa Property of the Week 3

Another property we really really like, after all what's not to like, is this one. This time we are looking at a huge villa in L'Eliana for just over the Golden Visa limit at 525k Euros. The photos speak for themselves of course but there is so much more to this property from the location, to the design, to that cool pool and excellent barbecue area. If you have a big family and are looking at lots of visits once we get past the Pandemic restrictions then this place could suit you very well as it has seven bedrooms, plenty of space for entertaining both inside in the huge semi-underbuild and on the covered and open terraces and a lovely compact garden with a brilliant outside kitchen/barbecue area. Contact us for viewings of course.