If you have been following developments recently in Spain in the UK press you could be mistaken for thinking that the sky was falling in as the country grinds to a halt. The British press loves giving grief to others when ignoring problems at home except when it is politically expedient to point out the problems. Look at the news in the UK last week about mortgage approvals being down 47% year on year and prices down 2.5% in a month and you have a much truer comparative picture with what is happening there. Here in Spain, much the same really but mortgage approvals have dropped about 20% despite the banks seriously cracking down on credit. Prices are dropping as many sellers were asking over the top prices. On our page we have some sellers who are British who need to take out money because of the huge increase in the cost of living in the UK. That allied to the weakness of the pound against the Euro has given them the opportunity to drop their prices to achieve a quicker sale.
So what about quality of life. Here we generally wake up in the morning knowing that it will probably be sunny and warm and knowing that when we use the water or gas for our morning shower, go to do the shopping or even fill the tank with petrol that, despite the fact that the Pound has depreciated against the Euro 15% recently, it is still much cheaper here to live a simple life. Public transport is cheaper and you can get about happily by metro, train or bus for pennies rather than pounds. It's not all good news though, electric is roughly equivalent to the UK and phones and mobiles cost more. Crime is lower, people are generally healthier and the World Health Organisation recommends Valencia and the surrounding area as one of the best places to live in the World from a health perspective.
According to the UK press the Brits over here are all bored as they do nothing all day except drink. Untrue again, many of our clients here work in multinationals, in the oil industry, in I.T, in international sales and development roles and they are given a choice of living anywhere as long as they have good communications. Believe it or not they choose Spain and more particularly Valencia as their base and have a thoroughly great time.
So what will your money get you currently? Evidently you have to spend fewer Euros to get a great property because sellers are more willing to accept offers whereas previously they would only sell at asking price. Factor in the need of the seller and you will generally get good discounts but don't set your heart on one single property as there are plenty on offer. Take a good look through the main site at www.valencia-property.com and see for yourself what you will get.
(The photos illustrating this article are of two houses at the following links, Almansa, La Pobla a typical Valencian Paella, an image of the current America's Cup holders Alinghi and the end of a rambling route by Olocau.) For more info get in touch on info@valencia-property.com
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