Published 18/07/2016 by Carrie Frais

Lucas Fox opens eighth Property Lounge in Valencia

Lucas Fox continues its national expansion with the launch of its eighth Property Lounge in Spain’s third city, Valencia.

Leading independent agency Lucas Fox International Properties has continued its national expansion with the launch of a new Property Lounge in Spain’s third city.

Located in El Pla del Remei in the heart of Valencia’s Eixample district, the company’s eighth Property Loung is home to nine staff, who are one of the best performing teams among the Lucas Fox regions. In the first two quarters of 2016 the number of transactions by the Lucas Fox Valencia team was up 28% compared to the same period in 2015 and the total value of transactions was also up by 12%. The majority of sales were to foreign buyers.

LF Infographics July 14th 2016- Valencia EN

Valencia is becoming an increasingly popular destination for foreigners looking to both holiday and settle here. It offers an enviable quality of life thanks to its great year-round climate, wonderful beaches, rich culture, award-winning gastronomy and hospitality. Visitors adore the city and this is why year-on-year Valencia continues to beat tourism records.

– Juan Luis Herrero, Partner Lucas Fox Valencia

Overall interest in Valencia properties has grown in recent years, with Lucas Fox website data showing that, after Spain, buyers from the UK, France and Holland search most for properties in the region.

One Lucas Fox client who recently bought in Valencia is 52-year-old Swedish businessman Reinhert Magnusson. He purchased a penthouse in the Eixample area of the city with the aim of living there full time with his family.

We have always holidayed on the Mediterranean so we were keen to find something near the coast which we could develop into our permanent home. We wanted to live in a city similar to the size of many Scandinavian cities so Valencia was the perfect fit. It is like being ‘at home’ but with a fantastic climate and Spanish culture. Scandinavian people have a very positive attitude towards Spain. We both appreciate the good things in life such as leisure time, great food and brilliant football!

– Reinhert Magnusson, Swedish entrepreneur

Latest data from the Spanish Institute of Statistics show that the number of property transactions (325 in total) in Valencia in May 2016 grew by 19% compared to the same period last year. Asking prices are also slowly increasing. In Q2 2016, the average (according to Idealista) was 1,486 € /m² for re-sale homes and 2,349 € / m2 for new builds compared to 1,436 € /m² and 2,179 € /m² in May last year.

The Valencia property market changed in 2014 when prices began to stabilise. Sales started to increase and confidence returned. We are now beginning to see prices slowly rise in prime areas. For the first time in many years we have seen the return of cranes on Valencia’s skyline, a sign of new construction and  further recovery of the property market.

– Juan Luis Herrero, Partner Lucas Fox Valencia

Valencia

View more properties for sale in Valencia on the Lucas Fox website

Find out what your property could be worth with a free valuation request from a member of our experienced property advisory team.

Free property valuation

Get the Lucas Fox property newsletter for exclusive news, insight and analysis

Join mailing list Join mailing list