The best deals in Valencia and its coastal satellite towns come from Spanish banks. These include Sareb, the EU-backed institution formed to hold unwanted property assets from the property crash and recession. Sareb took in €51 billion worth of unwanted assets and is now dripping them back into the marketplace at less than half their original value.
In Valencia City, apartments on offer tend to be family-sized 3-bed of around 100m2 in established districts well served by the ever expanding Metro that knits the city to scores of satellite towns and villages. There are always local amenities and good bus services to tourist locations. Prime neighbourhoods contain many €1M apartments, but a couple of Metro stops away could be another area, ripe for regeneration, where property at affordable prices could show rapid appreciation in values and rental rates.
|3-bed, 1-bath||92||Patraix with high-speed train station, good Metro links||SH800000||65,0000|
|3-bed, 1-bath||68||Els Orrios neighbourhood, good Metro links to everywhere.||HEV0306||65,000|
Investors cannot expect to pay €100,000 for a bank-owned property and enjoy views over the Mediterranean, or vistas of the futuristic Ciutat de les Arts i les Ciències or amenities of the Turia river park. But Valencia has scores of green areas scattered across inner city neighbourhoods and nearer suburbs.
Most are overlooked by apartment blocks where there are bargains to be had for buyers with their funding and paperwork at the Purchase Ready. Depending on the district, long term rentals of €350 a month or holiday/corporate lets averaging €300 a week might appeal to investors with €50,000 cash and a 50% mortgage with a fixed interest of 2.10% for up to 20 years. Start a property portfolio while prices are low and target tenants that reflect the neighbourhood where you have bought: Students, tourists, corporates – Valencia caters for all these sectors, but more accommodation is needed
As international brokers for Spanish banks, Walker Property Spain have 100s of bargains in Valencia City and can organise mortgages, property offers and inspections: