A Year After the Dana: Real Estate Market Trends
October marked exactly one year since the devastating dana hit the province of Valencia. Over this period, the housing market in the hardest-hit municipalities has changed noticeably. Despite the aftermath of the disaster, demand for real estate here has not only persisted but actually increased. As a result, according to analysts, property prices per square meter in these cities have risen significantly faster than the regional average.
Rising Prices and Market Activity: Municipality Statistics
The study covered 102 municipalities with a combined population of around 1.1 million, nearly half the province’s population. Over the past year, the number of housing transactions in these localities has increased by more than 2.7% compared to the same period last year. Notably, these affected towns accounted for more than half of all real estate operations in the province, excluding Valencia itself.
The average housing price in these municipalities reached 1,585 euros per square meter, 16.8% higher than last year. In comparison, the province as a whole saw a 14.7% increase, while in other towns unaffected by the dana, prices grew by just over 13%. The price spike is particularly noticeable in cities with populations over 10,000, where in some cases prices jumped by more than a third. Leading the list are Alginet, Albal, Benetússer, Silla, and Massanassa, each experiencing annual price growth of over 30%. In Torrent, Paiporta, Alfafar, Bétera, and Carcaixent, prices rose between 23% and 28%.
Small towns and new trends
Significant price increases are also being recorded in smaller communities with fewer than 10,000 residents. In Villanueva de Castellón and Monserrat, housing prices have risen by almost 19%. In Buñol and Xeraco, the growth is around 15%. Double-digit increases are also seen in Turís and Almussafes, while in Cheste the price per square meter has gone up by 8.4%.
Experts note that this sharp rise is driven by several factors. First, supply on the market has dropped by almost a quarter. Second, demand is coming not only from locals but also from new investors, who see potential in these areas. As a result, despite the impact of last year’s drought, the real estate market in the affected municipalities of Valencia is showing high activity and steady price growth.
