Are Campanar, Patraix, Benicalap, Benimaclet interesting barrios in Valencia to invest in?
For anyone looking to make an investment in Spanish property, now is a great time to go ahead, the market is bouncing back, property is still cheap, in some cases very cheap, and the forecast is for growth.
Valencia has some lesser known barrios that can offer a good opportunity for investment. With cheaper flats and apartments and predicted growth in the future you could find somewhere at an affordable price that can offer a much better long term investment.
You can pick up property in Valencia for as little as €40,000. But where is going to get you the best return in the shortest time. In this post we take a look at four of the lesser known neighbourhoods or barrios in Valencia to see how you can get the best return on your investment in property in Spain.
Campanar, to the north of Valencia now comprises two main parts. The older part of Campanar in the “old town” is made up of narrow streets with an old church in the centre, very typical of a Spanish village. This area tends to have higher prices (€150,000 and upwards) due to a lack of space and little movement on the market.
The second part of Campanar is now called Nou Campanar. This area is new, and the Cortes Valencianas road is made up of high-rise new-builds, with hundreds of offices and residential apartments. There are some key features of this area which make it attractive for investment. Firstly, the Hilton hotel alongside Valencia’s Congress centre make for a lot of business trips and travellers looking for good, modern accommodation in the area. The New Mestalla, which is provisionally set to open in May 2021 will hold 61,000 seats and will be huge for the area. Expect to see prices go up as football fans spend more time in Campanar around the stunning new stadium.
For those looking to make a longer term investment on a cheaper apartment, Patraix offers real-estate opportunities that will grow slowly as Valencia city centre spreads outwards. Currently the whole neighbourhood is residential and has typical amenities such as supermakets and cheaper restaurants, and prices are low. A quick scan brings up some three-bedroom apartments for as little as €43,000. At an investment of under €100,000 you can find apartments with communal swimming pools, parking spaces and 4 bedrooms. The question you have to ask yourself is whether you are prepared to live outside of the city. The underground rail is connected and is three stops away from the centre. But the neighbourhood itself is frankly quite dilapidated. As things continue to improve and more investment comes into Valencia, over time you can expect to see the area grow and improve, so your investment will steadily rise but it won’t be at rocket-speed.
Benicalap has its good and bad points. It is quite far to the north of Valencia and is connected by tram, which is around 6 or 7 stops from the city centre so if you are looking to buy in this area, bear in mind that this is not the liveliest of neighbourhoods. The best thing about the area is the huge park with open-air swimming pool which is great in the summer.
You should understand that this area is not part of the city centre, it is quite far away and most of the people who live here make a commute to work.
Having said that, if you want to make a property investment, a rental apartment here can make money and the prices will slowly go up over the next five years. This won’t be your retirement investment but it can be good place to find a modern and cheap apartment to be rented out to frequent visitors to the city.
This little hipster area is growing and growing fast. Many people coming to Valencia choose Benimaclet for its huge number of bars and restaurants. It has a great character, full of little boutiques, art shops and cafes. It is well connected to the city centre and is close to the universities. This means a lot of students live in the area so there is quite a studenty vibe. There are other areas such as Russafa, but Benimaclet isn’t as gentrified or developed as these areas.
It is perfect for young couples coming to Valencia for a city break and a rental apartment will make easy profit, there are a number of property brokers who will take care of your apartment, and of course we can help with the legal side as well.
The prices on property here are relatively low but are rising. Expect to pay around €150,000 for a decent 3 bedroom apartment. Most of the neighbourhood is centralised and we recommend finding an apartment in the centre. There are new-builds surrounding Benimaclet but they are quite far away and what makes this neighbourhood great is the lively centre.
We have a lot of experience in helping investors find the best property with the best finance and we know Valencia, and of course,…. also the most unknown barrios in Valencia.
Any questions? simply contact us and we’ll help you all the way.