New houses and developments in Valencia
New developments in Valencia
Currently, there are more than 100 new construction developments located in different districts of Valencia province. This situation has allowed the capital cities of the Valencian Community, along with Andalusia, Catalonia, and Madrid, to share almost two-thirds of the total home sales. According to the Association of Quantity Surveyors in Valencia province, a total of 4,240 homes were built in 2021.
Currently, the cheapest price per square meter can be found in Corbera and Rafelcofer, with prices ranging from €550/m². They are followed closely by Bocairent at €721/m², Albaida and Barxeta both at €720/m². The average price per square meter in the region ranges between €900/m² and €1500/m², with Montserrat at €961/m² and Paterna at €1252/m² being particularly noteworthy.
However, the highest prices are found in towns closest to the city of Valencia, such as El Puig at over €1,700/m², Alboraya at over €2,300/m², and the capital of the province itself at around €2,300/m². Nevertheless, the average price in Valencia province is slightly over €1,750/m².
Where is the largest number of new developments located?
Currently, the largest number of new homes can be found in the city of Valencia (138), followed by Alzira (over 70), Benaguasil (just over 30), Rocafort (with 26), and Torrent and Sagunt (with 18 and 11, respectively).
Which coastal cities have the main new developments?
The most notable new construction developments in the coastal area are located in Cullera, Oliva, Canet de Berenguer, Pobla dels Farnals, and Sagunto.
What affects the price of new housing in the province of Valencia?
There are several factors that will determine the price of new housing in each city. However, one of the most important aspects to consider will always be the market price per square meter.
Although there are other factors that directly influence the price, such as the height of the floor, the location of consumption resources such as schools, hospitals, supermarkets, or shopping centers. Of course, the typology of the property itself will be a determining factor, as a townhouse, a penthouse, or an apartment will not have the same price range. Linked to the typology, energy efficiency will always be a component that will increase or decrease the value of a property.
In addition, there are external factors to the property itself that will also play a relevant role in the appraisal, such as population density or whether the population is used as a bedroom community for a large city. Seasonality can also be a factor, and it is advisable to buy in the fall if the economic factor is a constraint.
In any case, choosing a home in Valencia or its surroundings will always be a safe bet, as the cost, both of rent and sale, is 59% lower than in the rest of the cities in the world, so both are below the average price in Spain.
What is the new construction real estate market like in Valencia province?
The current situation of new construction properties in Valencia will be marked by an increase in prices predicted for 2022. The College of Real Estate Agents forecasts that the market will experience signs of strength and stability. In addition, after several years of growth in new construction properties in the more rural areas of Valencia province, due to the improvement in public health and salary increases, the vast majority of new developments are now being focused on the metropolitan area of Valencia. However, currently, the trend is leaning towards an increase in rental prices for properties rather than purchases.
What is the importance of buying new-build flats as opposed to second-hand houses in the province of Valencia?
For this question, there is no one correct answer as it will depend on the buyer's needs. However, the best way to get a personalized and specific view will be to compare the sales and benefits of both options.
The most important issue will be the client's need to have a new apartment that no one has lived in yet. In addition, the fact of having a blank canvas when furnishing will always facilitate the task, as there will be no elements from the previous owner that may tarnish this experience. It is also worth noting that when buying a new home, the possibilities of having to carry out a partial or comprehensive renovation of the property are significantly reduced. On the other hand, if there is some urgency at the time of the move, second-hand apartments usually expedite this circumstance. In addition, the lower tax burden between 4% and 11% could make a difference when making a final decision.
Where to buy new development in Valencia province?
There are several areas in the Valencia province where we can find new-build properties, depending on the location, budget, and urgency of finding one. However, statistics offer a more or less stable benchmark of the areas where we can buy new-build apartments in the Valencia province.
Currently, the point where we can find the most varied options of new-build developments in the Valencia province is in the capital itself, with a price ranging from €130,000 to €2,300,000. As the search begins to move away from the city center, prices become more affordable, as evidenced in Rocafort, where the average price can be found between €160,000 and €290,000. The same is true for the new-build properties in Canet de Berenguer, where the price ranges from €105,000 to €290,000.
As for the locations closest to the coast, prices increase significantly, such as in Oliva, where new-build properties can be found with prices ranging between €290,000 and €300,000, or in Cullera, with new-build properties valued between €170,000 and €340,000.