Sometimes circumstances force us to reevaluate our potential choices in life and that moment might well have arrived for many people looking to relocate to Valencia. This week the number of properties for sale in the city dipped to a new historic low, under 4000 listed properties and as we have explained before on these pages that number should be taken with a pinch of salt; expired listings, sold listings, double listings, the same place listed ten times through different agents etc... 4000 is essentially 1500 more or less. Equally, outside the city in the suburbs there are fewer properties available but in today's post we are going to look at what other choices are available and go back to that major concept of lifestyle design.
One thing before we start though. The picture for this post talks about enjoying your life and it's something we should all think about regularly. Those of us here in Valencia already think about it lots, we are blessed to be here but this is not by chance for many of us who weren't born here. We came to live here by circumstances, accident or design and we don't regret that decision or those accidents of fate (Or love) at all. However, at times we need to remember to enjoy our lives more because of where we find ourselves and this situation we find ourselves in could be a whole lot worse. We are lucky but luck is often partially at least by design and lifestyle design is important if you want to be here too.
Defining Lifestyle Design
Lifestyle design was a concept that was popularised in the mid 2000s in the work of Tim Ferriss and others and the huge popularity of the book "The Four Hour Workweek". The idea was all about working from anywhere, getting paid in dollars/pounds or another strong currency (At the time) and living in rupees/euros in cheaper countries/pesos or whatever. Live in a great place and still get paid as if you are in a more expensive country where wages are higher (And then outsource a lot of the work).
The idea was great but it was out of reach for many people due to employers' lack of flexibility on location independence. People did it and there were many successful stories of people working in gorgeous places all over the World but it continued to be an "Alternative lifestyle".
Then came the pandemic and the work from home mandates.
Originally lifestyle design was mostly something for the self employed, freelancers and retired people (for whom it became the zero hour workweek as opposed to four hours). Now it's for a lot more people. LinkedIn is full of jobs where remote is one of the perks of the job and employers are much more likely to allow Lifestyle Designers all over the World to work for them so they have the greatest choice of talent.
One of the most important considerations for Lifestyle Designers is where they live. And finding that ideal place to live is becoming more and more difficult because of the lack of supply the World over of great places. Valencia is a great place of course, often voted as the best place to live in the World by Expats and Lifestyle Designers. But what happens when either your budget or your supply of properties to choose to live that life are limited? Well at that point you should maybe look at designing a life that is slightly different but equally valid. The lifetime value of this decision could well equal or better what you have originally envisaged.
City or Suburbs?
Traditionally moving to the suburbs in most countries has been done once you have a bit of cash in hand and are looking to settle down maybe with a family and a big car, smaller places in the outskirts or less pretty parts of the city were for the younger generation. However with the advent of city living being viewed as "easier living" (this has almost always been the case in Spain by the way), the huge demand for property in the cities has meant that prices have risen considerably.
There are many consequences of this of course. Firstly, younger buyers look to move outside the cities into the surrounding towns because that is where their money allows them to buy, prices in the city for them are unaffordable. However, as younger people oftentimes rely on public transport moving outside the city is not too much of a hardship, the bigger hardship is moving away from the bank of Mum and Dad and the cooking of Mum especially. Secondly, the age profile of the cities tends to skew in two ways, older and younger. Older for those able to afford the higher prices in the city and younger for the students who are coming into the city to study and renting single rooms in properties owned by older people but rented out.
Because of this the suburbs are now becoming younger. Previously towns and villages outside the city limits were aging as younger people moved into the cities to study in search of jobs. It's often more common now to see young families pushing prams in the larger well connected towns outside Valencia than in the city itself; Burjassot, Betera, La Pobla, L'Eliana, Paterna and Torrente for example. You still get to see younger people pushing prams in the more affluent areas of the city where the bank of Mum and Dad have bought the flat next door for their kids but more and more people are moving out for financial reasons.
What About Lifestyle Designers Though?
If you are looking to come to Valencia and you have a limited budget, either for rental or for purchase, then you might have to compromise too. However, moving to the Valencian suburbs might not be compromising too much in terms of lifestyle. After all, you are still in Spain and still in the region of Valencia.
Living in a Valencia town or village is lovely if you choose the right one. I've been doing it for 25 years and counting. You have everything to hand, supermarkets, cafes, restaurants, bars, gyms, all types of shops... and getting in and out of the city is simple, either in your own car or by bus, metro and sometimes local trains too. From my town La Pobla, to Valencia is fifteen minutes in the car and I'm usually parked in twenty mins or so. You too might also find that you don't have to compromise too much on your ideal Lifestyle Design. Want that picture of you and your beloved laptop overlooking the beach or on the top of a mountain? It's never too far away. And living outside the city might well put years onto your life too. Why's that? Read on.
Health Benefits
Valencia has one of the most healthy climates in the World according to the World Health Organisation. So come to Valencia and then live outside the city and immediately you have less pollution and noise (Ed: "Maybe not the noise bit") Luckily in Valencia we are surrounded by greenery both in the valleys and the mountains nearby and getting there and out into the countryside is not difficult. In fact because of the nature of construction in and around the towns you are never far from nature.
However, you continue to have a World class city on your doorstep and you can choose to spend as much or little time there as you wish. It may be that your small town becomes your muse where you feel relaxed and at home. I've never felt any FOMO from not living in the city and being surrounded by "all that". I know it's there if I want it and oftentimes I do want it so I go into the city.
Financial Benefits
When you pay less for a property and realise that you have bought yourself a bargain then you also realise that you have done your future and your current self a solid favour. Why is that? Well firstly it's because your current repayments on your mortgage are less. You realise that you manage to get off the hamster wheel of working every hour available just to make sure there's something left at the end of each month after paying off the costs of living there. You can actually get out and do what you came here for at that point and enjoy life more. More importantly you'll realise that long term that you don't need to work for so many years in order to own that propèrty 100% yourself with no mortgage or debt. That is lifestyle design too, thinking of your future self not just having to worry about the here and now.
Mental Health Benefits
Small and medium town Spain is largely a delight to live in. No keeping up with the Sanchez's, no competition, no rush or hurry, lots of time for others to chat and make friends, safety of course and a great place for kids to grow up with parks, sports facilities and a lack of hustle that contrasts massively with big city living the World over. Mentally this removal of stress, anxiety and troubles is clarifying for the mind leaving you much more relaxed and feeling calmer or even rejuvenated.
What Your Money Buys You
In the city itself now as we have said recently 250k is more or less the minimum amount you need to have a decent selection of property to choose from. If your budget is lower then you should be looking outside of the city to maximise the value of your investment in your lifestyle. You don't have to go far to get a whole lot more for your money
For the same price as that minimum would get you in Valencia you can have this view over the Sierra Calderona mountains in Serra to the north west of the city. Now, Valencia is flat of course, that is until you get out of the city to the north west and find yourself in these nearby Sierra Calderona mountains. This green lung allows you to breathe in the clean air purified every day by the sea breezes that mean that there is a difference in temperature and climate in Serra all year round compared with the coastal strip. Summer nights are cooler meaning you can sleep well up here and you'll enjoy the duvet in the winter nights along with the log burning fire.
This house of around 149m2 has three bedrooms, a bathroom, large living and dining room opening out into a kitchen and a garage plus storage rooms on a managable plot of 591m2. There's a small dip pool, decent terraced gardens and plenty of space to close your eyes, open your mind and relax. It's set just 1.5km from the town of Serra itself and you are into the city of Valencia in 40 minutes usually.
If what you are looking for is peace and quiet, excellent views from the large terrace overlooking the mountains, greenery and a lifestyle far removed from the madding crowd but with easy access into the local town and the nearby big city feel of Valencia and most of all you want something with a decent price, then Serra, and particularly this villa, may suit you well.
Come down to Cullera and you can get this seven bedroom townhouse with close access to one of the best bay beaches in the Valencia community the famed San Antonio crescent. Now it does seem like we’re focusing more on Cullera in recent times and who can blame us with properties like these….an impressive townhouse in the town centre, completely renovated and ready to go with tons of space and rooms to spread out and entertain.
The stats are impressive, Seven Bedrooms, Four Bathrooms, Living Room, Open Plan Kitchen, Patio Courtyard, Roof Terrace and as you can see its classic and original features have been maintained from the original build in 1921, a centenarian looking very sprightly for its age, perfect for a holiday retreat, a permanent home, or a wonderful investment with a very reasonable price tag.
Ideally located for all the town has to offer and a short walk to the Nautical Club, Diving School and Kayak Centre, so if you’re a Watersports enthusiast or indeed a Thalassophile, this place is ideal. And now you know a new word. Why not get in touch for more enlightenment.
Beautiful Betera Townhouse
We have said it before and we'll say it again no doubt but today let's just go banging that big bass drum again. Townhouses are awesome. We have written on our blog about townhouses being all or nothing, you either have to do everything or it has already been done but oftentimes the work done is superficial. Here though! Nope. The work is awesome, the modernisation is delicious and the finishings are lovely.
127m2 spread over two and a half floors. Three bedrooms, two bathrooms, two terraces, barbecue area and a bit of history, originally built in 1900. You even get the chance to get any recalcitrant drum playing teenagers out of the way as they can virtually live apart from you through the kitchen, out onto the back terrace, up the metallic staircase and into their own room away from you all. I would suggest something less annoying than drums though, maybe a cool saxophone to go with the general laid back vibe of this house.
Why a saxophone? Well, this house is a bit jazzy. What do we mean by that? It's as if the designer has gone all 15 minute sax solo with complementary drum beats on us. It's a great use of space and as you can see from the photos the finish is great but you might not think all the notes are in the right order.
Meanwhile we can argue about the benefits of living in a town house, having everything to hand, shops, cafes, bars and restaurants especially when the town is as accommodating as Betera, a town of over 20000 people on the metro route from Valencia in just half an hour or twenty minutes in the car and well positioned for all of the international schools and all of those facilities that make living in Valencia a delight. Come and see it.
Just 150k In Naquera
When you get out of the city into the suburbs you get some great deals comparing prices with the city. This is the city would be 350k minimum but just 25 minutes out from Valencian in Naquera and 15-20 minutes from the beach this 150k flat offers you plenty.
For young families you have a shared pool, garden area and a children's play area. The flat itself has two bedrooms, a bathroom, kitchen and large living room with a terrace overlooking the bay of Valencia in the distance. You even get a garage space and a store room.
Naquera is one of our favourite towns around Valencia set in the Sierra Calderona national park with hill walking, mountain biking and horse riding opportunities nearby. It has a large supermarket too which even opens on Sundays, a rarity in Valencia. Plenty of cafes, bars and restaurants to enjoy too. Get to know Naquera, it's excellent, and so is this property.
There's a lot more we could show you too but by the time you read this if you read it later in the year or once Google finds the page and promotes it, the properties mentioned might well be no longer available as the demand continues to outpace supply. It's better to take a look at our website when you start your Valencia Property journey and contact us with your requirements. As we always say a good first step is to go to this page and send us your requirements. Just click on the image below.
News From Valencia (And Spain)
From the start of 2025 all properties for rental in Spain will have to be registered on a central database whether the rental is for holiday, medium term or long term. This is to try and root out illegal rentals, especially illegal holiday rentals which are massively affecting local markets. The effects of this new rule are of course as yet unknown but it will probably mean yet another reduction at least initially in the number of rentals available as people get used to having to register and take their time to do it. Equally, it could have a huge effect and reduce numbers massively if the process is not as simple as described when the news came out. We wait and see but Spain isn't known as a place to go to avoid bureaucracy!
A Big Housing Protest in Valencia
There was a huge protest in Valencia over the weekend about the unaffordability of housing and the lack of government action, both at a regional and national level, to alleviate the supply problem. This is a result of decades of underinvestment in building social housing and other property in the popular areas exacerbated by a labyrinthine planning process which slows everything up.
Some people have asked whether the protest was against foreigners. It wasn't. There were the odd shouts of "Tourists Go Home"which tend to accompany any protest in big Spanish cities these days, but mostly it was just people frustrated and not being able to find anything to rent or buy due to investment funds and investors, largely Spanish, buying up places to rent out to tourists through Airbnb. The government will be forced to act especially against the illegal Airbnbs mentioned earlier in this piece, but expect other restrictions in the post such as higher local taxes on unoccupied properties for example.
Next week we will be announcing what we will be doing as an agency regarding this issue. So make sure to tune in next Monday for that. Every grain of sand helps.
Mortgage News
The Central European Bank has reduced interest rates for the third time this year bringing the base rate down to 3.25% and with it have come better offers for mortgages with the expectation that rates will continue to fall. We expect this fall to increase demand for property even more as the interest rates being offered for purchasers and therefore their monthly payments looking extremely attractive to buyers especially when we compare this with the ever increasing costs of renting, not to mention the increasing difficulty of finding a place to rent.
If you are looking for a mortgage to finance your Spanish property purchase then it might be worth checking out the rates Mortgage Direct can get for you. Just ask them for a pre-approval and see what you might be able to get. You might be very pleasantly surprised. Read more about mortgages and the savings required to buy on our post from last week. Just click on the image below or here.
Property of the Week
The Yellow Pearl (Or Mustard Mansion, Or Banana Building...)
Just the other day I was having a conversation in the car with a client as we passed a similar coloured house. They said the first thing they would do would be to paint it a different colour if it was theirs. I happen to be a fan, it takes on a deep golden hue as the sun gets low in the evening. You could stick a plaque outside and call it Buttercup Villa or Casa Banana or some other classy moniker.
Located in our fave outside-the-city spot La Eliana, there is no denying the Mediterranean influence on the architecture with this one. A decent sized home on a very manageable plot, it comes with the added bonus of motivating you to get to know the neighbours and blag an invite to their next pool party as this particular abode is as dry as your mom's thanksgiving turkey (burn). No pool, no problem. Consider yourself a hero for managing your water usage thus ensuring future generations can waste a little more. But you could also install a pool here if you wanted, to hell with the future generations. The inside is all in good nick, maybe a lick of paint and some more modern furniture but no big work needed on this one.
So get the speedos on, learn the Spanish for “Howdy Neighbour” and I’ll see you at Mustard manor.
If You Enjoyed This...
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