<< Back to Main Valencia Press ReleasesProperty Values in Valencia's Most Sought After Areas still Growing Strongly
Added: (July 10 2007)
According to the latest property price statistics from Spain 's Number 1 Property Portal, Idealista prices in Valencia 's most sought after areas are still rising strongly. Between December 29th 2006 and June 29th 2007, Idealista evaluated data from a total of 5,389 properties being offered on its site. The data covers the 16 districts of Valencia with at least 50 properties being studied in each area during each quarter. Prices in general have risen by 4.1% in the city during the first 6 months of the year with the area around Mestalla being the highest riser at 7.6%. The average price per sqm in the city at the end of June was €2,861 with the area around Mestalla being the most expensive at €3,780 having overtaken both Ciutat Vella which is home to the Carmen and the city's Historic Centre (price per sqm now at €3,704) as well as l'Eixample which encompasses the area East of Colon St. which includes Gran Via and Russafa (price per sqm now at €3,576).
This year's second biggest riser was the Camins al Grau area which includes Avenida del Puerto and which is the area leading to the Port/Marina with an increase of 7.4% with the average price per sqm now at €3,225, it being the 4th most expensive area of the city at present. The third biggest riser was the Poblats Maritims area which includes the beach area around Malvarrosa with an increase of 5.7% with the average price per sqm there now at €2,401. Of the 16 districts in the city the Poblats Maritims area is the 5th cheapest which is heartening given the likely return of the America 's Cup and the arrival next year of Formula 1 for at least 7 years.
The cheapest area in the city is l'Olivereta with prices at an economical €2,225 per sqm.This area includes the areas around Avenida del Cid and Perez Galdos. The area around Jesus is the second cheapest at €2,259 per sqm.
Conclusion
The conclusion that I would draw from the data is a distinct move away from the city's Historic Centre and towards the Port/Marina and Mestalla. This is not hard to understand when one considers that over half a billion Euros has been pumped into the redevelopment of the Port/Marina in preparation for the America's Cup making the Marina the biggest in the Mediterranean and in so doing overtaking Monaco which previously was the biggest. Mestalla connects the Camins al Grau area to the city's riverbed as well as being the home to the city's premier football club and accomodating some of the city's top blue chip companies such as Telefonica and numerous government departments in addition to the city's new Town Hall. It seems likely that in the short to mid term the Camins al Grau area will become the city's most sought after address therefore old style properties especially attics will be going for a premium. These type properties are not as plentiful in the Camins al Grau area as they are in the city's Historic Centre making their purchase all the more convincing.
Some Notes re Property Stats Tables:
1.There are 3 different types of tables, 6 in all with 3 tables referring to each quarter.
2. Tables 1 & 4 represent the average price per sqm in descending order for the 1st and 2nd quarters respectively.
3. Tables 2 and 5 represent the % price increase in descedning order for the 1st and 2nd quarters respectively.
4. Tables 3 and 6 represent the average price per sqm for Valencia 's 16 districts arranged alphabetically for the 1st and 2nd quarters respectively.
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