We are finding that all sorts of people are looking to have a Stepping Stone Rental in Valencia from people looking to have a place for a few months while they do some work on their home when they won’t be able to stay there due to dust and building, to people looking to spend 90 days of their Schengen visa in one place, to people just wanting to try out Valencia before making any long term commitments to the place. One of the biggest groups though is from the Digital Nomad community. Digital Nomads in Valencia are a growing group but there is a difference, and it’s a big one.
The digital nomads coming to Valencia are looking to put down some roots. They want a long term commitment to the city but because of the rental crisis in Valencia they are finding it hard to find a more permanent place. Stepping Stone Rentals offer them the chance of getting a foothold in the city before making the long term commitment to the city that they really want. And what we are finding out is that the rental crisis is getting worse. Offers of apartments to rent in Valencia have fallen by 40% in the last three months on the property portals.
Why Are There Fewer Apartments to Rent in Valencia?
There are various reasons given for the fall in the number of apartments available: the return of thousands of students after the summer break, the numbers of workers moving into the city for the jobs being created, digital nomads of course and the lack of new build apartments coming into the market to rent. One of the more interesting reasons though is the change in the law giving more security to tenants has had the unintended consequence of taking many apartments off the market and that owners are finding that there is a demand for room rental as opposed to whole apartment rental and that renting individual rooms is more lucrative than renting whole apartments for owners.
What Happens to Prices of Rentals Then?
Of course when there is excess demand and lower supply prices go up. In certain parts of the city prices have risen on average by up to 80% in the last year but the average price rise in the last twelve months has been 26%. One of the main attractions for many digital nomads previously has been the relative affordability of Valencia compared with other cities in Spain and around Europe while not giving up on the advantages of living in a modern, progressive city. It may be that the price rises in Valencia eventually lead to a lowering of demand but we are not seeing that yet. However, if prices continue to rise in this way then we expect a drop off in demand as people get priced out of the market.
New Stepping Stone Rental Property in Godella
This week on the site we have a new Stepping Stone rental property coming up in Godella very near to the metro station and to Rocafort, near to international schools and all facilities. It’s a second floor apartment without lift, two bedrooms, bathroom, kitchen, large living room and small terrace overlooking a tree lined avenue and park at an introductory price of 45 euros per night, 1350 euros per month for three month rentals and more with all costs included. Available from the start of November this is an excellent apartment recently modernised and just a twenty minute metro ride into the city centre, ten minutes by car. You can see all of the photos, the 360º images and the plan at the link.
If you are interested in this property or any of the others on our Stepping Stone Rental page then feel free to contact us with your details and when you are looking to start your rental and we will look into finding you the best place for your Stepping Stone into Valencia.