In recent years, the property market in Valencia has been in an uptrend. Being among the regions with the highest real estate activity, the province was hit hard by the 2008 crisis, when new home prices reached historic lows.
A decade later, prices for newly built homes in the province of Valencia are showing signs of recovery, according to Brains Real Estate. In the first quarter of 2021, there was a 4.2% drop in prices compared to the same period last year. However, in April-June period, the square meter price leaped to 1,706 euros from 1,645 euros, the highest level over the past few years.
Meanwhile, existing home prices have been more stable, slightly rising by 0.4%. In January-March 2021, the average listing home price came in at 1,263 euros per square meter, up by 1.9% from the previous quarter.
Overall, a median square meter price of a home for sale in the province of Valencia is 1,152 euros, well below its peak in the run-up to the 2008 housing bubble, when it soared to 1,707 euros.
Valencia ranks 12th among Spain’s provinces with the largest number of homes currently listed for sale. Meanwhile, by the number of real estate transactions per province, it secured a 14th place with a median listing home price of 1,152 euros per square meter.