Puzol urbanization real estate market: Balance for 2020

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The year 2020 has proven to be an excellent year for the real estate market in the urbanizations of Los Monasterios, Alfinach and Monte Picayo. Our team completed approximately 70 real estate transactions in 2020, which represents an increase of 75% with respect to sales of dwellings with private gardens. Compare these numbers to 2019, where we finalised around 40 transactions with similar properties.

As proven time and time again, the market segment with the most transactions continues to be the mid-range price point, (properties valued up to €600.000) with slightly more than 40 purchases. However, this market segment is complex as there are few options that meet this criterion available on the market, especially in the Los Monasterios urbanization. In this urbanization, you would have to consider a minimum budget of €800.000 to €900.000 for a move-in ready home. The intermediate segment, (ranging between €600.000 and €900.000) has generated about 10 purchases and/or reservations (in the case of new builds). Finally, in the luxury segment, approximately 8 real estate transactions have been carried out, which contrasts with the purely subjective sales of other years.

With regards to the market for plots, approximately 10 transactions have been made, however undeveloped land available for purchase in the Los Monasterios urbanization has been all but exhausted. In the Alfinach urbanization there is additional land for sale, although there is only supply available in the best areas. 23 new plots located on the periphery have become available, with prices ranging between €110.000 and €190.000. Furthermore, in the Monte Picayo urbanization, there are some options available for land with sea views in the price range of €150 / m2, which is undoubtedly a very attractive price.

The long-term rental market has been somewhat less dynamic than in other years due to the high concentration of sales and purchases, and the reduced surplus of desirable homes. The fact is that the rental market in these urbanizations does not attract current residents, but is instead geared towards new residents looking to purchase a home, with a total of 15 long-term rentals closed. There has also been an explosion of short and medium stay rentals, due to the extraordinary situation caused by the COVID pandemic, causing an increase in the number of purchases and sales, thus lowering the supply. Under normal conditions, this lack of supply can cause price increases within certain segments, however prices have remained comparatively stable.

There is still a large demand for homes in the area. The pandemic has clearly favoured the periphery of cities, especially houses with private gardens or outdoor spaces. Enjoying a large open-air area has become a priority in many societies, and Valencia is no exception. The urbanizations of Puzol are located only 23 km from the city of Valencia and 6 km from the sea. It is the perfect place for children and adults to enjoy the quality of life offered by a home with ample interior and exterior space, as well as the wonderful assets its surroundings offer.

Pau Mollá: Real estate agent specializing in the urbanizations of Puzol