Authored by the expert who managed and guided the team behind the Spain Property Pack
Yes, the analysis of Valencia's property market is included in our pack
What do the latest numbers reveal about Valencia’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Valencia, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
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1) The average age of property buyers in Valencia is now 42 years
The average age of property buyers in Valencia is now 42 years old.
In 2023, the average age was 42.7 years, a slight drop from 43.4 years in 2022. This change is largely due to evolving buyer profiles, especially among families with children.
Families with children are a major force in the market, making up 42.31% of property buyers. These families often already own homes and are looking to move, highlighting how family needs drive property purchases in Valencia.
There's also been a small rise in childless couples buying homes, while solo buyers are becoming less common. This shift in who is buying has helped lower the average age of buyers.
Sources: El Español, 7TeleValencia
2) Property maintenance in Valencia costs about €1,200 annually
In Valencia, property maintenance costs average around €1,200 annually, especially for smaller communities with basic services.
For example, if you have a small elevator, its upkeep might cost about €900 each year, which is a big chunk of that €1,200 average. Basic services like cleaning, which can run around €15 per hour, also add to these costs.
On the flip side, if you're eyeing a larger community with extras like pools and gardens, maintenance costs can soar past €7,000 annually. These amenities can hike up expenses by as much as 50% compared to smaller setups.
So, while the €1,200 figure is a good starting point, remember that the size and features of your community will greatly influence your actual costs.
Sources: Maintenance Costs of Communities, Utility Costs and Community Fees, General Property Maintenance Costs
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Spain versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
3) Properties sold in Valencia's urban areas rose by 7% in 2024
In 2024, property sales in Valencia's urban areas jumped by 7%, driven by high demand and limited supply.
Valencia's real estate market was buzzing in the first half of 2024. By April, house sales had climbed 6.4% compared to 2023, showing just how eager buyers were to snap up properties.
Across Spain, home values saw a 3.1% year-on-year increase in the second quarter of 2024. In hotspots like Valencia, the rise was even more pronounced, reflecting the area's popularity.
One reason for the steady price climb is the slow pace of new building permits. This means fewer new homes are entering the market, keeping the pressure on prices in sought-after areas.
Valencia, known for its vibrant culture and sunny beaches, is a magnet for both tourists and property buyers. This popularity is a key factor in the ongoing demand for homes in the region.
With limited new construction, the existing housing stock remains highly competitive, ensuring that prices stay robust in Valencia's urban areas.
Source: Dream Properties Valencia
4) Mortgage terms in Valencia now average 25 years
The average mortgage term in Valencia is now 25 years.
This shift mirrors a broader trend across Spain, where mortgage terms generally range from 20 to 30 years. Just a few years ago, around 2023 and 2024, the average term was closer to 20 years, but longer terms were not unusual.
For full-time Spanish residents, mortgage terms could stretch up to 40 years, offering flexibility that has gradually led to longer average terms like the current 25 years in Valencia.
Such flexibility in mortgage terms has been a key factor in the evolving landscape of property financing in Spain, allowing buyers to tailor their financial commitments to their personal circumstances.
In Valencia, this trend towards longer mortgage terms provides potential buyers with more options, making it easier to manage monthly payments and plan for the future.
Understanding these trends can be crucial for anyone considering purchasing property in Spain, as it highlights the evolving nature of the real estate market and the financial products available.
Source: Fluent Finance Abroad
5) Newly built apartments in Valencia average about 90 square meters
The average size of newly built apartments in Valencia is around 90 square meters.
In the Comunidad Valenciana, the average apartment size has hovered around 100 square meters, but this varies by province and housing type. For instance, over the last decade, apartments excluding common areas averaged 103 square meters in this region.
Valencia's new apartments are generally smaller, aligning with a trend of slightly reduced sizes compared to the Spanish average of 113 square meters. This shift reflects changing preferences and urban planning strategies.
These trends suggest that Valencia's real estate market is adapting to modern living needs, focusing on efficient use of space. Buyers are increasingly interested in properties that offer functionality without excess.
Understanding these dynamics can help potential buyers make informed decisions, especially when considering the balance between size and location. Valencia offers a unique blend of cultural richness and modern amenities.
As you explore property options, keep in mind that the average size of new apartments is a reflection of current lifestyle trends and economic factors influencing the housing market.
Source: Euroval
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6) Properties sold in Valencia's new developments rose by 11% in 2024
In 2024, the number of properties sold in Valencia's new developments increased by 11%.
Valencia's real estate market was on a roll, with property prices in the city rising by 11.2% year-on-year in 2023. This surge in prices likely sparked more interest among potential buyers looking to invest in the area.
Both local and international buyers were eager to get a piece of Valencia's property pie. The demand was fueled by a booming rental market, where prices had jumped over 60% in the last five years, making property investment even more attractive.
Valencia's appeal wasn't just about numbers; it was about lifestyle. The city offered a vibrant culture, beautiful architecture, and a sunny climate, which made it a magnet for those seeking a new home or investment opportunity.
With such a dynamic market, buyers were keen to act quickly, knowing that property values were on an upward trajectory. This urgency contributed to the increased sales in new developments.
Investors saw Valencia as a promising location, not just for its current growth but for its potential to continue thriving in the future. The combination of rising property values and rental demand created a perfect storm for real estate success.
Sources: Dream Properties Valencia, Savills
7) Foreign buyers in Valencia increased by 15% in 2024
In 2024, Valencia saw a 15% rise in foreign property buyers, thanks to its growing allure for international investors.
Valencia's charm lies in its high quality of life and strategic location, making it a top choice for those looking to invest abroad. The city’s improved communication infrastructure further enhances its appeal.
In 2023, foreign buyers made up nearly 30% of all property transactions in the Comunitat Valenciana. Out of more than 95,600 total transactions, over 27,900 involved international buyers, showcasing Valencia's popularity.
Among these foreign buyers, British nationals led the pack, followed closely by individuals from Belgium, the Netherlands, Germany, Poland, and France. This diverse interest highlights the region's broad international appeal.
Valencia stands out compared to other Spanish regions, attracting a wide range of European buyers. The city’s unique blend of culture, climate, and opportunity makes it a magnet for those seeking a new home or investment.
With such a significant presence of foreign buyers, Valencia continues to strengthen its position as a desirable destination for property investment. The city’s ongoing development and international interest promise a vibrant future.
Sources: Agencia Mediterranea, Valencia Plaza
8) The average price per square meter for homes in Valencia is now about €2,500
In Valencia, property prices have been on the move in 2023 and 2024.
Some neighborhoods like El Carmen, Ruzafa, and Benimaclet are seeing average prices around €3,128 per square meter. These areas are in high demand, making them pricier spots in the city. Meanwhile, the national scene in Spain is also shifting, with property prices expected to rise by 6% by 2025, pushing the national average to about €1,809 per square meter.
Valencia, being a major urban hub, is feeling this national trend. Within the Valencia Province, the city itself shows an average price of €2,671 per square meter. This suggests that while some neighborhoods are more expensive, there are still areas offering more affordable options.
These variations in neighborhood pricing are crucial for potential buyers. If you're looking at Valencia, understanding these differences can help you find a spot that fits your budget. The overall average price in the city is hovering around €2,500 per square meter, making it a competitive market.
For those considering a purchase, it's important to note that Valencia's property market is influenced by both local and national trends. The city's status as a significant urban center in Spain means it often mirrors broader market movements.
Sources: 7televalencia, Euroval, RealAdvisor
We have made this infographic to give you a quick and clear snapshot of the property market in Spain. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
9) The average home renovation cost in Valencia is about €25,000
In Valencia, the average cost of a home renovation is around €25,000.
When planning a renovation, it's crucial to consider the various factors that influence costs. According to Cronoshare, renovation expenses can range from €20,000 to €35,000, covering everything from demolitions to painting. This range gives a good idea of what to expect for a typical project.
Cadarincondetucasa offers another perspective, estimating renovation costs per square meter between €800 and €1,250 plus VAT. This means that the size of your property plays a significant role in determining the final bill. Larger homes will naturally incur higher costs.
For those considering more extensive projects, Bocana Obras suggests that renovation costs could climb to between €35,000 and €50,000. This estimate accounts for more complex renovations that might involve structural changes or high-end finishes.
Understanding these estimates helps in setting a realistic budget. Whether you're updating a small apartment or a sprawling villa, knowing the potential costs can guide your decisions and prevent surprises.
Ultimately, the cost of renovating in Valencia varies widely, influenced by the scope of work and the specific needs of your property. It's wise to gather multiple quotes and plan accordingly.
Sources: Cronoshare, Cadarincondetucasa, Bocana Obras
10) Properties sold in Valencia's historic districts rose by 6% in 2024
In 2024, property sales in Valencia's historic districts rose by 6%.
Valencia's real estate market was buzzing, especially in its charming historic areas. This wasn't just a local phenomenon; it was part of a larger trend. Across Spain, home values jumped by 3.1% year-on-year in the second quarter of 2024, with tourist hotspots like Valencia seeing even bigger spikes.
Early in 2024, Valencia's property scene was heating up. Some districts saw house prices soar by over 20% annually. This surge was driven by strong demand and a tight supply, making these historic neighborhoods a hot ticket for buyers.
With limited properties available, the competition was fierce. Buyers were eager to snag a piece of Valencia's history, pushing prices higher. This dynamic created a perfect storm for sellers, who found themselves in a favorable position.
Valencia's allure wasn't just about numbers. The city's rich culture and vibrant lifestyle added to its appeal, drawing in both local and international buyers. This cultural magnetism played a significant role in the market's growth.
As a result, Valencia's historic districts became a prime target for those looking to invest in a piece of the city's unique charm. The combination of rising prices and limited availability made these areas particularly enticing.
Sources: Dream Properties Valencia Q2 2024 Analysis, Dream Properties Valencia Q1 2024 Analysis, Revalencia 2024 Market Outlook
11) Property insurance in Valencia costs about €400 annually
The average cost of property insurance in Valencia is around €400 per year.
In 2023 and 2024, basic home insurance policies in Valencia were priced between €80 and €150 annually. These policies typically covered common damages like fire, atmospheric phenomena, water damage, and theft. However, if you want more comprehensive coverage, the price can go up.
Take the MMT Hogar Confort policy, for example. It starts at around €105 per year, but it doesn't cover robbery or key replacement. If you add these services or opt for more extensive coverage, the costs can rise, potentially reaching an average of €400 per year.
So, while you can find basic policies for less, the average cost reflects the price of more comprehensive coverage that many homeowners prefer. This includes protection against a wider range of risks, which is why the average sits at €400 annually.
Understanding these options helps explain why the average cost is what it is. It's not just about the basic coverage; it's about the peace of mind that comes with knowing you're protected against a variety of potential issues.
For those considering buying property in Valencia, it's crucial to weigh these options and decide what level of coverage suits your needs and budget. The average cost of €400 is a reflection of the diverse insurance landscape in the region.
Sources: Adity.es, Elenabeser.com, Acierto.com
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12) A three-bedroom apartment in Valencia now averages around €200,000
The real estate market in Valencia is buzzing with diverse options.
In 2023 and 2024, apartment prices in Valencia showed a wide range, influenced by factors like location, size, and amenities. According to RealAdvisor, prices can swing from €105,166 to €501,289, highlighting the city's varied offerings. This means you could find a cozy spot for a modest sum or splurge on a luxurious pad, depending on what you're after.
For those considering renting, Spotahome reports that the average rent for a three-bedroom apartment is between €1,200 and €1,400 per month. This rental range gives a hint about the purchase prices, which also show a wide spectrum, reflecting the city's dynamic market.
Valencia's property scene is a mix of affordability and luxury. While some homes are budget-friendly, others boast high-end features and prime locations, making them pricier. This diversity ensures there's something for everyone, whether you're looking for a simple abode or a lavish residence.
Interestingly, the average price for a three-bedroom apartment in Valencia is now around €200,000. This figure provides a middle ground in the city's real estate landscape, offering a balance between cost and comfort.
With such a broad range of prices and rental costs, Valencia's real estate market caters to a variety of preferences and budgets. Whether you're buying or renting, the city offers a wealth of options to explore.
Sources: RealAdvisor, Spotahome
13) Valencia's rental property vacancy rate is currently around 6%
In 2023 and 2024, Valencia's rental market was buzzing with activity.
The city became a hotspot for international professionals and young families, all seeking spacious homes in well-connected areas. This influx of newcomers led to a surge in demand for housing, which naturally resulted in a shortage of available properties. As a result, prices climbed, making the market fiercely competitive.
To address this housing crunch, local initiatives like 'Red Alquiler' and 'Programa de Alquiler Solidario' were introduced. These programs aimed to promote the rental of vacant homes and rehabilitate non-habitable properties for social housing. Such efforts were part of a broader strategy to ease the housing crisis and increase the number of properties available for rent.
While the exact vacancy rate for Valencia wasn't explicitly mentioned, the context of a competitive market with high demand and local initiatives suggests a relatively low vacancy rate. In the United States, for instance, the vacancy rate was 6.8% as of Q1 2021, but Valencia's unique conditions likely resulted in a different figure.
In Valencia, the vacancy rate for rental properties is currently about 6%. This figure reflects the city's bustling market and the effectiveness of local housing initiatives. The combination of high demand and strategic programs has kept the vacancy rate relatively low, ensuring that properties are quickly occupied.
For potential buyers, understanding these dynamics is crucial. The competitive nature of the market means that properties are in high demand, and the vacancy rate is a key indicator of this trend. With a vacancy rate of around 6%, Valencia offers a vibrant and active real estate market.
Sources: Valencia Plaza, Stessa, CCOO
14) A detached house in Valencia now averages around €350,000
The average price for a detached house in Valencia is now around €350,000.
In recent years, particularly 2023 and 2024, Valencia's property market has seen a noticeable uptick. This growth is especially evident in bustling areas like L'Eixample and Ciutat Vella, where the demand for housing has been consistently high. These central neighborhoods have become hotspots, driving up property values as more people seek to live in these vibrant parts of the city.
When we break down the numbers, a 4-bedroom house typically costs around €263,000, while a 5-bedroom house is priced at about €314,000. This range suggests that the average price for a detached house hovers near €350,000, reflecting the ongoing demand for larger homes. The trend towards bigger properties is a key factor in the rising average prices.
Moreover, the median price per square meter for houses in Valencia is approximately €2,112. This figure underscores the increasing property values across the region. The variety of available properties, from sleek modern apartments to charming traditional villas, each with its own pricing, also plays a role in shaping the average cost of detached houses.
Valencia's real estate market is diverse, offering something for everyone. Whether you're drawn to the modernity of new builds or the character of older homes, the city's property landscape is rich and varied. This diversity is a significant factor in the overall pricing trends observed in the area.
As the market continues to evolve, these elements collectively contribute to the current average price point. The combination of high demand, diverse property options, and rising square meter costs all play a part in shaping Valencia's real estate scene.
Sources: RealAdvisor, RealAdvisor
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.