Wednesday, January 31, 2007

News on Prices in the City

Thanks to the blog at for this news from Idealista about average prices in the city of Valencia.

" believes that the second-hand home market in Valencia ‘has ripened and is preparing for a cycle change’, with average prices remaining under €3,000 (at €2,747 per m2). Three districts saw rises above 15%, including Algirós (17.8%), Campanar (17%), and El Pla del Real (15.2%), compared to much lower rises for Benimaclet (3.9%), Poblats Maritims (7%), La Saïdia (8%), Patraix (8.2%), and Camins al Grau (9.9%). Ciutat Vella is the most expensive district in Valencia (at €3,630 per m2), followed closely by L’eixample (€3,607 per m2) and El Pla del Real (€3,512)."

So if you want a property in the old town, gentrifying by the day and offering excellent nightlife and facilities, be prepared to pay for it. What else can we take from this? The America's Cup effect near the Port has blown itself out as the greatest rises are in areas to the West and North West areas of the city well away from the Port. As always, location is the most important thing. The demand is for centrally located apartments and demand drives prices. So if you are looking for investments look in those areas right in town. If you are looking for a good standard of apartment with excellent facilities but are willing to take the metro then look to areas like Benimaclet, Campanar, Malvarrosa etc...

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