Lucas Fox commentary on the Valencia property market
Juan Luis Herrero from the Lucas Fox Valencia office reflects on the property landscape so far during 2016 and shares his thoughts on how he thinks it will shape up for the rest of the year.
How would you sum up the property landscape during 2016 so far? How does it compare to the same period in 2015?
2015 was a good year for the real estate sector and 2016 is continuing on the same upward path. The data from the first quarter of the year shows an increase in sales of 33% with almost 2,000 transactions. The real estate market in 2016 has remained positive despite the political uncertainty.
What are the noticeable trends in Valencia? Who are the key nationalities this year?
Continuing trends in Valencia include growing international interest in properties in the city. A large variety of nationalities are interested with buyers from France, Italy, Holland, Sweden, Switzerland and the UK forming the majority. We have seen foreign sales increase by 25% so far this year.
What product is proving to be most popular?
The most popular type of product continues to be Modernista apartments in the Eixample district, measuring between 140m² and 220m², with high ceilings and situated in an excellent location.
What is your outlook for the rest of 2016 and beyond?
The outlook for the property market for the rest of the year is positive due to the growth rate of the Spanish economy and good macroeconomic indicators. This trend may be accelerated if the question of the formation of the Government is finally resolved. Good residential tourism statistics are helping the property sector and the outlook is moderately positive. Valencia continues to be a very good place to invest because it is still possible to buy at a good price in prime locations.
View properties for sale in Valencia on the Lucas Fox website
