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Property in Spain: What can you buy in Valencia for €150K?

Valencia continues to be one of the property hotspots in Spain, with foreign buyers attracted to the region for the Mediterranean lifestyle, its sunny climate and the fact that it is still affordable.

Published: 27 January 2020 10:24 CET

Property in Spain: What can you buy in Valencia for €150K?

Valenica is proving very attractive to foreign buyers. Photo by Juan Pablo Gonzáles / Flickr

The Local spoke to Graham Hunt of Valencia Property, who said enquiries have risen over 60 percent since this time last year.

“One thing we always get asked about seems to be properties around 150k with at least two bedrooms,” he said.

“This is a logical question in the city but outside the city houses tend to start with three bedrooms and then get bigger. In the towns surrounding the city you can also get that third bedroom for your visitors or even more and you have easy access to a cosmopolitan city of almost 1 million people on your doorstep along with the more traditional delights of the local Valencia towns and villages outside your door.·”

READ ALSO: OPINION: Why Valencia is the best place to live in Spain

Lets take a look at six typical properties which offer great value and come within the €150k budget.

City Apartment Living in Valencia

People looking to move to the city of Valencia itself, are often looking for apartments in areas such as the Carmen in the Old Town, or by the beach, such as in the Cabanyal.

The sweet spot for city clients is between the €150/200k mark, so rising prices have seen them moving away from the usual haunts of Ruzafa and El Carmen and focusing on the fantastic beach neighbourhoods that in recent times have undergone quite a transformation.

Set on the best stretch of Cabanyal, thats between the Port and the Market, this 6TH floor Flat actually overlooks the peace and quiet of Calle Barraca and with some TLC could be a fantastic apartment for rental returns, (Think local university students and summer tourists) or as a holiday home just 600 Metres from the Arenas Beach.

So a slightly negotiable €150k with tax and renovation that still gets you in for under €200k, worth a look.

READ MORE: The beach areas of Valencia

Well located bolthole in El Carmen

If you are more into the old town in Valencia then this nicely situated Carmen apartment may suit you. It has been rented out for the last few years and now the owner wants to sell up. It has two bedrooms, bathroom, kitchen opening into the living room and a good sized living room. Second floor without lift but easy stairs.

On a quiet street in El Carmen with shops, restaurants and bars all within a couple of minutes walk, you could have your place as your city pad or your rental apartment in Valencia right in the heart of the city. Just a two minute walk to the Riverbed and all of the central Valencia attractions.

READ MORE: Valencia's Old Town district

Duplex Penthouse With Views in El Puig

We’ve seen recently that people are starting to think outside the box to get what they want as prices in Valencia City have risen and some of our recent apartment sales have been in Naquera, Betera, Rafaelbunyol and Museros, all with a combination of great bus, metro and road links to the city in under half an hour and fantastic value for money. So here's another good one in El Puig, a pretty little town north of Valencia and just 15 Minutes on the local train down to the City.

This Duplex Penthouse is located in the heart of the town and overlooks the rather fetching Monastery and Esplanade which holds the once a week Street Market for local produce, big pants and towels.

On the 1st Floor we find a Large Living Area with good sized Terrace and open views, an Independent Kitchen, 3 Bedrooms and 2 Bathrooms, then moving up to the 2nd Level a Study, Bedroom, Living Room with Terrace and Barbecue, perfect for guests or stroppy teenagers, above this is a solarium, so plenty of outside space to get your daily dose of Vitamin D.

Definitely worth a look if you want value for money and El Puig is a great place to live, just 10 Minutes from the nearest beach by Bike or Car.

Read more about the towns around Valencia and how long it takes to get into the city

Duplex Penthouse in Naquera

Just for comparison's sake we can also take a look at this second duplex penthouse but with added swimming pool. This time it is in Naquera one of our favourite hidden gems of a town in the hills of the Sierra Calderona mountain range but 15 minutes by car from the nearest beach and 25 from Valencia.

A Modern Duplex Penthouse in the centre of pretty Naquera, with large Terrace, Community Swimming pool, 2 parking spaces and Utility storage room for the bikes you’ll be using to explore the Sierra Calderona.

This 140m2 of property consists of 3 bedrooms, 2 bathrooms, well equipped kitchen and living room, whilst moving upstairs we find a large open plan area, perfect for an office, games room , or for your guests to have their own space.

An excellent investment with no work required and a perfect location to pop into the village for local shops, cafes and restaurants.

READ MORE: About Naquera

What If It's A House You Want?

For this price you won't find a house in the city of Valencia but most people looking for houses here are willing to go into the surrounding orange groves to look for a town or village that suits them and their budget. Let's look at a couple of examples.

Colourful Chalet in Lliria

This colourful property in Lliria is a great option for anyone looking to relocate their family to Valencia! Ready to move in, this chalet would bring a smile to anyone's face!

The villa features three bedrooms and two bathrooms (including one ensuite). In addition to the main floor living area, there is also a basement with a bar and bodega, a large private swimming pool, 2 storage rooms, a traditional paellero and outdoor kitchen with toilet.

Located in a great spot with public transport links to the city centre, schools and other essential local amenities.

Wonderful Views in La Pobla de Vallbona (Let's Cheat A Bit)

REDUCED PRICE ALERT

We can cheat a bit here by adding a property a smidgeon over 150k because it's in a rather wonderful setting overlooking the Sierra Calderona mountains around five minutes out from La Pobla de Vallbona in La Maquiva. The plot of around 1000m2 encloses a modernised house of 140m2 with four bedrooms, living room modernised bathroom, totally new kitchen and covered and open terraces enjoying the wonderful view.

On the plot there is a good sized swimming pool with excellent sun deck with views to the mountains, covered storeroom and toilet, gardens, and off road parking.

Sometimes it's worth paying for a decent view and the view here is more than decent it's glorious.

Graham Hunt is a real estate agent and relocation expert based in Valencia. Originally from just outside Liverpool he came to Spain as a student and never left. Read more at his blog or follow him on Twitter.

If you want him to show you around some properties in Valencia, drop him a line.

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Q&A: What to do if you buy a property built illegally in Spain

Unfortunately, over the years, many properties have been built illegally in Spain, not adhering to local rules and regulations. Foreigners who don’t know the legislation can easily fall into the trap of buying one of these properties, only to find out later down the line.

Maybe it’s when they come to sell or perhaps it’s when they want to do works or improvements on the property.

There are several reasons a home could have been built illegally in Spain. Firstly, it could have been built on the wrong type of land. This is it could have been built on suelo rústico, rural land where residential properties are prohibited, also called no urbanizable.

READ ALSO:

It could have also been built too near the coast. This is down to the Ley de Costas or Coastal Law, which was brought into force in December 1989 in order to protect the costas from overdevelopment and high rises spoiling the landscape.

The law defines different areas of the beach and dictates which is public land, owned by the state and which parts can be owned privately and built on.

If you buy or own a house in one of these non-buildable zones, there are many problems you could face down the line, often sooner rather than later. This is because there are several rules you have to abide by concerning works, reforms and extensions. In some cases, they may not be allowed at all and everything must be approved first by the local government by providing a detailed project.

Because of coastal erosion, this issue is getting worse as some shoreside homes that were once built outside of these areas are finding that they’re now illegal.

READ ALSO:

The house may have also had extensions made to it that were built without a license, meaning that the extra parts are illegal.

Q: How do I know if my home is legal or not?

A: Unfortunately it can be difficult to know if your property is legal or not. You could have bought and signed for it with a notary and it could be inscribed on the Property Registry, but this still doesn’t mean it was built to the correct specification and on the right land.

The only way to truly tell is to find out if your home ever had a Licencia de Primera Ocupación or First Occupation license, also referred to as a Cédula de Habitabilidad or Certificate of Habitability. This means that according to the authorities, it is suitable to live in and has the correct licenses.

READ ALSO: How to get Spain’s certificate of liveability for properties

Q: What happens if my property doesn’t have a habitability certificate?

A: If your property has never had a Certificate of Habitability, you must regularise the legal situation. First you’ll need to start a legalisation file (expediente de legalización) and contact the town hall. Depending on the seriousness of the case (ie. where exactly it was built, if there’s any structural danger, whether the entire property is illegal or just an extension) the cost of making an illegal property legal can be considerable. As such, each case must be studied individually with the help of an expert to determine whether it is even feasible or worth the investment.

The next step is to bring in an architect and check whether the property complies with all the building regulations. If it does, you simply need present the expediente de legalización to your local town hall, who will confirm whether or not the property adheres to building regulations and can be made legal.

If it doesn’t, you’ll need to consider whether it will comply with the regulations after some renovations. If that’s the case, you’ll need to draw up a renovations project document (proyecto de reforma) outlining the proposed changes and how they will adhere to building regulations. It must be presented to the town hall along with your expediente de legalización.

According to law firm Acal, the legalisation process can be broken down into steps as follows:

Contact the town hall.
Begin with the expediente de legalización when the town hall confirm whether or not the property can be made legal.
Pay the corresponding fees and taxes (in this case it will be IBI) depending on your municipality and region.
If you need to make renovations, obtain the proyecto de reforma and hire an architect.
Obtain a building permit from the town hall.
Once completed, register the property in the Land Registry.

READ ALSO: What is Spain’s IBI tax and how do I pay it?

Q: Do I really need to make my property legal?

A: Yes, because it will benefit you in the long run. It doesn’t matter what the previous owner told you when you were originally buying the property, owning a property that isn’t fully legal (or legal at all) can create problems and even lead to fines worth up to 20 percent of the property’s value in extreme cases.

By going through the legalisation process and making the relevant renovations, if necessary, you gain a legal property for all purposes and with all the benefits that entails.

You will not have problems setting up, paying, or cancelling electricity, water or gas utility services. You won’t have to undertake reforms and renovation work unofficially, avoiding the eyes of the authorities. Instead you’ll be able to register your property in the Land Registry, which will make things much easier when you decide to sell it or pass it on.

In terms of selling it, perhaps that is the biggest benefit of legalising your illegal property: by registering it properly, you will be able to benefit from its full value when selling it. When a property is illegal, the appraised value will probably be no more than 40-45 percent of its real value at best.

The renovations needed to get your property in shape to meet the building regulations could be costly, but will they cost you half of the total value of your property?

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