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The Resurgence of the Property Market in Valencia

The residential market in Valencia is recovering due to new construction, as the current stock fails to meet existing demand, causing prices to soar.

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The residential market in Valencia has shown strength in recent years. After being one of the regions with the highest levels of real estate activity, the province was hit hard by the real estate crash in 2008, with prices and new projects at historic lows.

A decade later, the price of new housing in the province of Valencia has been rising since 2015, according to the big data platform Brains Real Estate. At the beginning of this year, prices fell by 4.2% in the first quarter compared to the previous period. However, from April to June, they increased significantly, rising from €1,645 per square metre for new-build property to €1,706, the highest in recent years.

The price of second-hand housing has been more stable over the last five years, with a slight increase of 0.4%. Between January and March 2021, the average value of these residential assets stood at 1,263 euros/m2, an increase of 1.9% compared to the previous quarter.

Read the full article in Spanish

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