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The 2020 pandemic made adjustments to the consumer demand for real estate and significantly reduced sales. However, 2021 has been, in many ways, a breath of fresh air for most countries. Spain is no exception, where there is a noticeable recovery in demand: Spanish agencies report that more people now want to buy property in Valencia and Catalonia. To learn more about the current demand and get information about the cost of apartments in Valencia for 2023, read this material.
Demand in Catalonia and Valencia recovers
Catalonia and Valencia are leaders in real estate recovery, according to Fotocasa. These two autonomies are far ahead in terms of the speed of recovery of the real estate sector. Thus, according to the latest research, over the last 6 months of 2021, demand has increased by approximately 10 percent compared to February. Maria Matos, director of research at Fotokas, informs that the sale of housing, in turn, has a positive impact on the recovery of the economy as a whole.
Consumer demand in Spain at the moment
At the moment, the demand for sale exceeded the demand for rent – the latter decreased by 7 percent in the studied interval from February to September. The most active age category in the real estate market is young people under 35 years old. Among potential investors aged 18 to 24, the demand for buying and selling has fallen compared to before the coronavirus epidemic. On average, the portrait of a potential home buyer looks like this. This is a woman in her 40s with an average or above-average income who lives with her partner (husband) and children or with her parents—place of residence – Andalusia, Madrid, or Catalonia.
Also, as part of this study, a survey was conducted, according to which the following data were obtained. A quarter of Spaniards reported their intention to buy property within the next five years, up 5 percent from a year ago in a similar survey. Moreover, the researchers found out for what reasons the purchase of housing is most often postponed. These reasons were the lack of savings, the economic or work situation, and the presence of other expenses or other life priorities.
Where is the cheapest place to buy it?
According to Aliseda, a large sale of housing occurs in several regions at once. As part of this sale, collateral objects are being sold. The cheapest object in this sale costs 23 thousand euros – at this price, apartments in Toledo, Castile are offered. The most expensive was the penthouse in Madrid for 1.68 million euros. However, you can find about a hundred apartments for 50 thousand euros in Valencia, Avila, and other regions.
Reasons to invest in apartments in Valencia
Every year this city attracts more and more foreigners who want to rent or buy local housing. Individuals interested in long-term passive income should consider purchasing an apartment.
Investing in local real estate is an excellent option for those looking to get the most bang for their buck. Let’s analyze the main reasons that make Valencia apartments attractive for foreign entrepreneurs:
1. Valencia is one of the most visited European cities. And the point is not only in the developed tourism industry but also in business activity. Many headquarters of local and multinational companies are located here. Therefore, the influx of people who want to live and work in the city is excellent.
2. The Spanish real estate market has been growing for several years. This means that investors can now purchase an apartment at a low price, which will increase significantly shortly.
3. In Valencia, you can find an apartment for every taste. The variety of types of local housing is amazing. In the catalogs of Spanish real estate agencies, there are both spacious apartments with all amenities and views of the city and compact smart apartments with a convenient layout.
4. The demand for rental apartments in Valencia has grown so much that owners often find tenants in a matter of days. In the central part of the city, there has always been a high demand for housing, but gradually, it grew for houses in peripheral areas. This leads to a gradual increase in rental prices and, consequently, to an increase in investor income.
Assistance in buying a home in Spain
It is most convenient to find out more about the objects offered for sale and find housing according to individual parameters through the Spain-Real.Estate website. The aggregator provides professional services for housing selection and helps with paperwork and transaction support. You can find out more on the company’s website: Spain-Real.Estate.