The Valencian real estate market has picked up in recent years. The reason: relatively low prices, whether for buying or renting. However, this doesn’t rule out a few hazards, such as a lack of supply compared to demand. The fact remains that, in general, making a investment in Valencia proves to be a good deal.
What are the main advantages of the Valencia real estate market?
Compared with cities like Madrid or Barcelona, the Valencian real estate market has a number of strong points. It starts, of course, with rather affordable prices. Indeed, the average purchase price per square meter is around 2,000 euros.
Rental prices, on the other hand, are increasing. This is mainly due to increased demand, especially for long-term rentals. In this particular case, supply can no longer keep up, and it’s rare to find accommodation at less than 800 euros per month.
Prices soar all the more when the property is located in a sought-after area. The same is true when the property has been fully renovated by the owners. In fact, rents are rising by as much as 10% a year, depending on the area concerned. The Valencia real estate market nevertheless has a bright future ahead of it, knowing the additional parameters that are advantageous to it.
These include the city’s particularly mild climate, as well as its interesting geographical location and attractive quality of life. And let’s not forget that Valencia is a student city, offering another relevant opportunity for investors.
Finally, the prevailing Valencian property tax is not very high, at around 300 to 1,500 euros per year depending on the property.
Some tips for investing in Valencia
The first thing to do before investing in real estate in a city like Valencia is to get the help of an expert. He or she will have the necessary skills to ensure that the investment pays off. With this in mind, you should also be aware of several key steps to follow if you hope to achieve convincing results.
First of all, it’s essential to target your needs. This includes not only the type of property, but also the neighborhood, the budget, the timetable and the expected return on investment. The aim here is to have a rigorous visibility of the project. Among other things, this avoids wasting time and energy on misunderstandings.
Once the basic criteria have been set, it’s time to get down to the actual search. Only biens who meet these conditions are to be selected. Each of these is then studied with the advisor to ensure that only the most promising are retained. Then comes the time to organize the schedule of visits with the aim of seeing as many properties as possible in as little time as possible.
On site, it’s essential to ask the right questions to the owner or real estate agent present (charges to consider, negotiation margin, etc.). Once the choice has been made, it’s then essential to complete the administrative part. Once again, the help of a specialist in the field is required to avoid making any unfortunate mistakes.