IN 2023, 3,223 NEW HOMES AND 19,556 SECOND-HAND HOMES HAVE BEEN SOLD IN VALENCIA
2 Oct 2023
- In 2023, 22,770 homes were sold in the city of Valencia: 3,223 new builds compared to 19,556 second-hand homes.
- There are currently 5,822 second-hand and 3,633 newly built properties on the market.
- In Valencia city, the square metre in second-hand residences costs €2,278, while in new construction it costs €2,769.
The Valencian capital has a supply of 5,822 second-hand properties and 3,633 new-build properties. Interest in buying continues to rise, as 3,223 new-build properties and 19,556 second-hand properties were sold in 2023. This is the result of the study "Valencia: present and future real estate". carried out by Activum Real Estate Consulting.
Regarding second-hand supplyThe Valencian capital leads the rankings, being the fifth city in Spain with the highest number of properties of this type on offer, with 5,822 for sale. It is ahead of Madrid (20,957), Barcelona (15,539), Cordoba (6,844) and Palma de Mallorca (6,319).
The average price per square metre of second-hand property enters the Top 10 cities, with an average of 2,278 euros. The Valencian city is beaten by San Sebastian 5,326 €/m², Madrid 4,015 €/m², Palma de Mallorca 3,863 €/m², Bilbao 3,164 €/m², Malaga 3,002 €/m², Pamplona 2,682 €/m², Barcelona 2,671 €/m², Vitoria 2,535 €/m² and Santa Cruz de Tenerife 2,385 €/m².
The peri-urban crown helps the growth of new building developments
In a city like Valencia, the peri-urban ring plays a major role in population growth, and in turn in the development of new housing developments.. The area of Camp de Turia has 42 promotions for sale, where Bétera stands out with 12 promotions for sale, followed by San Antonio de Benagéber with ten promotions, La Eliana with eight and La Pobla de Vallbona with five.. La Horta Nord has 44 developments being marketed, with three municipalities tied on eight developments: Godella, Paterna and Rocafort. La Horta Sud has 29 projects, with the municipality of Torrent as the protagonist with five developments.
These municipalities bordering and close to the city of Valencia have a great capacity to supply housing to a dynamic and growing urban environment.
Source: Activum.co.uk a 09/2023. In order to prepare this study we have analysed the dwellings published in Idealista and data from the INE.
The price difference between new and second hand construction goes beyond the capital, extending also to the periurban crown: L'Horta Nord (1,514 €/m² in second hand and 2,064 €/m² in new construction), L'Horta Sud (1,221 €/m² in second hand and 1,667 €/m² in new construction) and El Camp de Tùria (1,334 /m² in second hand and 2,209 €/m² in new construction).
Source: Activum.co.uk a 09/2023. In order to prepare this study we have analysed the dwellings published in Idealista and data from the INE.
Where will the real estate market go in the face of this demand?
In Valencia, in addition to the development of the large urban areas underway until they are full, there are numerous projects that will become the future of the city. The city currently has projects for the near future that will give rise to a further 9,495 new homes.
Central Park is a major intervention in the Joaquín Sorolla railway area. It will give rise to more than 4,000 dwellings, with a high percentage of subsidised housing, as well as tertiary plots. By burying the railway, a 23-hectare park will be created in the city centre.
The PAI of the GRAO which will transform the F1 circuit into a bio-healthy circuit, will have towers up to 25 storeys high, with a total of 3,000 homes with more than 25% of protected housing.
The Director of Research at Activum, Ignacio Ortizstates that: "The Cabanyal-Canyamelar Special Plan (PEC) will have 1,150 dwellings, more than half of which will be publicly developed for affordable rent. With large green areas, it will also have a 15-storey tertiary tower, which will provide housing solutions for the residents of the port blocks. It will provide housing solutions for the residents of the port blocks, and on the land bordering the Ronda Norte of Valencia, we find the future PAI of Benimacletowned in a 40% by Metrovacesa. It will give rise to 1,345 free and subsidised housing units, 15,000 square metres of parks, services and facilities."
