Lucas Fox Spanish Real Estate Market Analysis 2019: Costa Blanca & Valencia

New homes sales almost triple and prices rise by 3.1% in Valencia City during 2019.

Market Analysis Valencia 2019

Market Analysis: Costa Blanca & Valencia 2019

After two general elections in nine months, Spain now has its first ever coalition Government, made up of the Socialist Party (PSOE), headed up by Pedro Sánchez and Unidas Podemos with its leader Pablo Iglesias. The new coalition will hopefully bring some level of stability after a fairly turbulent year politically and will be addressing political, territorial and social dimensions, which could be challenging but could see some positive outcomes.

Read our full analysis of Spain’s property market here

Valencia City

Average Sales Prices – Valencia City

Average property prices in Valencia City went up year-on-year, registering an annual increase of 3.1% in December 2019 and ending the year on €1,763 per square metre. Average prices in the Old Town also increased, ending the year on €2,806 per square metre (1% increase). Prices in beachside La Patacona averaged €3,100 per square metre, registering an annual increase of 1.8%. Although prices in the district of L’Example registered a decrease, of 1.8%, ending the year on €2,855 per square metre, they have seen the greatest gains since December 2014, with prices increasing by just over 37%. Since December 2014 prices in La Patacona have risen by just over 28% and in the Old Town by almost 29%. The city as a whole has seen prices go up by just over 30% in the five years to December 2019. However, they are still almost 25% below the average prices in December 2007, around the time of the peak. (Idealista, resale prices)

Average Sales Prices Valencia City - Valencia 2019

Average Rental Prices – Valencia City

Average rental prices in Valencia City showed an annual increase of 7.3% in December 2019, ending the year on €9 per square metre. Average rental prices in the Old Town and L’Eixample also went up, ending the year on €11.2 per square metre (4.9% increase) and €10.5 per square metre (5.2% increase) respectively. It is the sixth year in a row that Valencia City has seen annual rental increases. Average rental prices across the city as a whole have risen by almost 48% since December 2014. (Idealista)

Volume of Sales – Valencia City

Like Barcelona and Madrid, the number of sales transactions in Valencia City decreased year-on-year. In the first nine months of 2019 (7,507 sales) sales decreased by 13.9% compared to the same period in 2018 (8,722 sales). Compared to the first nine months of 2014 (4,330 sales) the number of transactions has risen by just over 73% but it is still 9.3% below the same period in 2007 (8,280 sales). (Ministry of Development, Spain)

Property Trnsactions Valencia City - Valencia 2019

New Homes Sales – Valencia City

The number of sales transactions of new homes in Valencia City in the first nine months of 2019 (534 sales) has almost tripled compared to the same period in 2018 (184 sales). Compared to the first nine months of 2014 (292 sales) the number of sales of new homes has increased by almost 83% but it is still almost 73% below the same period in 2007 (1,952 sales). (Ministry of Development, Spain)

Proportionally, new homes sales in Valencia City represented 7.1% of the total number of sales in the first nine months of 2019, up from the same period in 2018 when sales of new homes represented just over 2% of the total number of sales. The proportion has reduced significantly since the first nine months of 2007 when almost 24% of the total sales were for new homes. (Ministry of Development, Spain)

Alicante City

Average Sales Prices – Alicante City

Average property prices in Alicante City showed an annual increase of 6.3% in December 2019, ending the year on €1,513 per square metre. Property prices in the city have gone up by just over 19% in the five years to December 2019. (Idealista, resale property prices)

Average Prices Alicante - Valencia 2019

Average Rental Prices – Alicante City

Average rental prices in Alicante City showed an annual increase of 6.5% in December 2019, ending the year on €7.6 per square metre. (Idealista)

Volume of Sales – Alicante City

The number of sales transactions in Alicante City in the first nine months of 2019 (4,645 sales) decreased by 12.8% compared to the same period in 2018 (5,325 sales). Compared to the first nine months of 2014 (2,651 sales) the number of transactions has risen by just over 75% but it is still just under 25% below the same period in 2007 (6,181 sales). (Ministry of Development, Spain)

New Homes Sales – Alicante City

Sales of new homes in Alicante City represented 8.3% of the total number of sales in the first nine months of 2019, a smaller proportion than in the same period in 2018 (11.2%). The proportion is notably smaller than in the first nine months of 2007 when just under 35% of the total sales were for new homes. (Ministry of Development, Spain)

Dénia

Average Sales Prices – Dénia

Average property prices in Dénia showed an annual increase of 2.5% in December 2019, ending the year on €1,974 per square metre. Since December 2014 prices in Dénia are up by just over 20%. (Idealista, resale property prices)

See graph above in Alicante City

Average Rental Prices – Dénia

Average rental prices in Dénia showed a very slight annual decrease, of 0.4%, in December 2019, ending the year on €7.4 per square metre. (Idealista)

Volume of Sales – Dénia

The number of sales transactions in Dénia in the first nine months of 2019 (1,040 sales) decreased by 8.9% compared to the same period in 2018 (5,325 sales). Compared to the first nine months of 2014 (2,651 sales) the number of transactions has risen by 16.5% but it is still just under 65% below the same period in 2007 (6,181 sales). (Ministry of Development, Spain)

New Homes Sales – Dénia

Sales of new homes in Dénia represented 5.8% of the total number of sales in the first nine months of 2019, a larger proportion than in the same period in 2018 (2%). The proportion is notably smaller than in the first nine months of 2007 when almost 49% of the total sales were for new homes. (Ministry of Development, Spain)

Puçol

Average Sales Prices – Puçol

Average property prices in Puçol (which incorporates Los Monesterios) showed an annual increase of 2.9% in December 2019, ending the year on €1,277 per square metre. However, since December 2014 prices in Puçol are up down by just over 9%. (Idealista, resale property prices)

Average Sales Price - Valencia 2019

Average Rental Prices – Puçol

Average rental prices in Puçol showed an annual increase of 12.9% in December 2019, ending the year on €6.5 per square metre. (Idealista)

Volume of Sales – Puçol

The number of transactions Puçol in the first nine months of 2019 (185 sales) decreased by 19.2% compared to the same period in 2018 (229 sales). Compared to the first nine months of 2014 (91 sales) the number of transactions has more than doubled but it is still almost 51% below the number of sales in the first nine months of 2007 (377 sales). (Ministry of Development, Spain)

Valencia Province

Volume of Sales – Valencia Province

Looking at Valencia Province as a whole. the number of transactions in the first nine months of 2019 has increased by just over 84% compared to the same period in 2014, rising from 13,004 to 23,945. However, year-on-year the number of sales transactions in the first nine months of 2019 registered a decrease of 7.8%, following the national trend, and it is still almost 37% below the number of sales in the same period in 2007 (37,898 sales). (Ministry of Development, Spain)

Property Transactios Valencia Province - Valencia 2019

New Homes Sales – Valencia Province

Sales of new homes in Valencia Province represented 5.7% of the total number of sales in the first nine months of 2019, a larger proportion as in the same period in 2018 (4%). The proportion has reduced significantly since the first nine months of 2007 when just under 43% of the total sales were for new homes. (Ministry of Development, Spain)

Value of Sales – Valencia Province

The total value of sales transactions in Valencia Province in the first nine months of 2019 (€2.50 billion) decreased by 2.6% over the amount of trading in the same period in 2018 (€2.56 billion). Compared to the first nine months of 2014 (€1.21 billion) the total value of sales transactions has more than doubled but it is still almost 58% below the total value in the same period in 2007 (€5.88 billion). (Ministry of Development, Spain)

Alicante Province

Volume of Sales – Alicante Province

Compared to the first nine months of 2014 the number of transactions in Alicante Province in the same period in 2019 has risen from 20,863 to 30.880, an increase of 48%. However, year-on-year the number of sales transactions in the first nine months of 2019 registered a decrease of 6.4% and it is still almost 35% below the number of sales in the same period in 2007 (47,296 sales). (Ministry of Development, Spain)

Property Transactions Alicante Province - Valencia 2019

New Homes Sales – Alicante Province

Sales of new homes in Alicante Province represented 12.9% of the total number of sales in the first nine months of 2019, a larger proportion than in the same period in 2018 (11.4%). The proportion has reduced significantly since the first nine months of 2007 when 47% of the total sales were for new homes. (Ministry of Development, Spain)

Value of Sales – Alicante Province

The total value of sales transactions in Alicante Province in the first nine months of 2019 decreased by 3.4% over the amount of trading in the same period in 2018. Compared to the first nine months of 2014 the total value of sales transactions has increased by 66% but it is still just over 41% below the total value in the same period in 2007. Ministry of Development, Spain)

Tourism & Foreign Buyers, Costa Blanca & Valencia

The number of passengers arriving at Valencia airport in 2019 was just over 8.5 million, an increase of 9.9% over passenger arrivals in 2018. (Aena)

International tourism in the Valencian Community in the first eleven months of 2019 increased by 3.8% over the same period in 2018. The region hosted just over 9.1 million visitors during the first eleven months of 2019. (INE)

Foreign buyers in Valencia Province accounted for 11.5% of the total sales in the third quarter of 2019, a slightly larger proportion than in the third quarter of 2018 (10.5%), and significantly larger than the proportion in the whole 2012 when they accounted for almost 4% of all buyers. (Spanish Land Registry)

Foreign buyers in Alicante Province accounted for almost 41% of the total sales in the third quarter of 2019, a slightly larger proportion than in the third quarter of 2018 (39.3%), and larger than the proportion in the whole 2012 when they accounted for just over 33% of all buyers. The province has the highest proportion of foreign buyers out of all Spanish provinces. (Spanish Land Registry)

Lucas Fox Valencia Buyer Profile

Lucas Fox Valencia Buyer Profile - Valencia 2019

Lucas Fox Dénia Buyer Profile

Lucas Fox Dénia Buyer Profile - Valencia 2019

Note the following figures are provisional:

INE (Tourism) (from January 2019)
Ministry of Development, Spain (from Q3 2019)

View Lucas Fox Spanish Real Estate Market Analysis 2019: Spain

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