2019 review Valencia real estate market
According to official figures, the average property prices in Spain show a slight increase of 0.2% in the 3rd quarter of 2019. If we compare this on an annual basis, the increase in house prices is 4.2%. However, there are big differences per region, provinces and cities in Spain. The Valencia real estate market is still showing interesting figures.
Valencia good return on investment
The province and Valencia City have shown significant price increases in recent years. Despite this, Valencia real estate prices remain on average less than half those in Barcelona and Madrid. House prices in the region and Valencia City are still very competitive for foreign buyers looking for a good return on their investment.
During the third quarter of 2019, there was no increase of more than 8% year-on-year in any province. Nine provinces, including Madrid, Malaga and Valencia, show price increases of between 5 and 8%, putting them at the top of the Spanish list.
In total, 28 regions saw their average fall compared to the previous quarter. The highest prices per m2 are found in the Madrid region (€ 2,336 per m2), the Balearic Islands (€ 2,183 per m2) and the Barcelona region (€ 2,153 per m2). The average house price in the region of Valencia is considerably lower at € 1,042 per m².
Price development in large cities in Spain
If we look at the prices of the provincial capitals, Valencia, Orense, Girona and Burgos have registered price increases of more than 10%. The 2 largest cities in Spain, Madrid and Barcelona have less large increases. Madrid grew by 6.6% year on year, while Barcelona was up 1.6%. In the third quarter of 2019, the average real estate price in the capital Valencia shows an increase of 11.4% on an annual basis (€ 1,437 per m²). That is still a lot lower compared to Madrid and Barcelona.
Price development in Valencia city districts
Average prices in the Eixample district (Gran Via and Ruzafa) rose only slightly, by 3.9%. No surprise: the big increase in this district has actually already taken place in recent years. The m2 price in Q3 of 201 stands at € 2,211 euros. Emerging neighborhoods in Valencia City are La Saidia, Olivereta and Poblats Maritims (Cabanyal) have increased in price the most: more than 24%. These neighborhoods are thus becoming increasingly popular with investors. The percentage increases are large, but in terms of prices this still remains more attractive than in other major Spanish cities. The average price increase in Valencia City on an annual basis is 4.5%.
Conclusion: Valencia real estate market remains attractive
The Valencia real estate market thus remains interesting. The development of house prices in the second quarter of 2019 confirms that the province and especially Valencia City remain a competitive market for foreign buyers who are looking for a good return on their investment and, of course, taking into account all the advantages that Valencia has to offer: more than 300 days of sunshine, close to the airport, wide sandy beaches and of course a wonderful, vibrant city!
Our Valencia “Dream Team” is ready to assist you in the search and is your personal guide throughout the entire purchase process! Please contact us for more information about the current market.