You want to invest in Spain, but you are not sure in which city? We describe to you the pros and cons of investing in Valencia. Keep on reading to find out…
1. Pro: Spain’s third largest city is arguably its best
Madrid is, naturally, the largest and Barcelona second. Valencia sneaks in just ahead of Seville – which is beautiful as well, but unbearably hot, man says the hottest in Spain. Thanks to its location on the eastern Mediterranean, and its low-lying and flat position, there is usually breeze to be found, the city is beautiful and abound with historical architecture and the gastronomy is wonderful. All that is missing is you…
2. Con: Central neighbourhood property prices are up to their high-water mark
Some 15 years ago, during El Crisis, you could have bought property in trendy neighbourhoods such as Ruzafa or El Carmen on your credit card (that’s an exaggeration, but not as big a one as you might think…) But the crisis is long over, and not even the pandemic has reversed trends in these areas. Ciutat Vella (the Old Town) and El Carmen last year hit their historical highs, as did a handful of outlying areas including Marxalenes, Trintat and l’Amistat. The bargain store is rebranding as an upmarket boutique on trendy shopping street Calle de Colón, it seems…
3. Pro: But bargains still exist for savvy investors
If you are looking for a change of life and pace, bargains are still to be found outside the city – in Ador, a village near Gandia, prices are 40% of what they were before the crisis. Torrent is down 52%, Villalonga 46%, Sueca and Rafelbuñol down43%), Puig and Villamarxant 42% and finally Xativa, down 40%.
And in or near the city, prices in Benicalap are down more than 4%, L’Oliveretta down 34.5%, and Rascanya, down 28%). Be bold and think outside the box – and speak to agents who know the market well and can guide you to these bargain sites.
4. Con: The work culture in Valencia does not attract entrepreneurs
Spain is considered to be anti-enterprise with many layers of old-fashioned bureaucracy. They have a fetish for paperwork, usually in triplicate, it is hard to get anything done and there is a reasonable chance that something nasty will be hidden in the deeds of any property in which you invest. That said, with a decent lawyer who understands the specifics of the market in the region, these are both avoidable pitfalls and by letting an expert guide you through your decisions – and taking their advice when they recommend continuing your search for your dream home, this can become as plain sailing as a boat trip around the lagoon at Albufera in the south of the city. It’s also where the rice fields are that are the home to Valencia’s famous paella, so do try it while you are here looking…
5. Pro: Short-term rentals will allow you to carry out your search with real viewings rather than trying to do everything online
There are relocation services here that will organise upmarket short-term rentals at better prices than Airbnb while you search, and many with legal services to advise you on every step of the way. More and more “digital nomads” are moving to the city, as evidenced by the number of co-working spaces springing up, drawn here by the wonderful climate, the comparatively low cost of living and the great offer that the city has for culture, gastronomy and leisure.
6. Pro: Well, we couldn’t finish with a con…
Valencia has been voted best city to move to a number of times in the past year or two by Forbes magazine, The Huffington Post, InterNations’ Expat Insider Survey and a number of others based on quality of life, cost of living and price to service ratio. It is green and sustainable, with numerous bespoke cycle and electric scooter lanes. It has an enormous river running through its centre, which was diverted 60 years ago to reduce flooding risks and turned into parkland, for some, the eighth wonder of the world. And it has the beautiful Arts and Science complex, a series of space-age contemporary architecture creations that draw people from all over the world.
Life here is joyous. You will never have lived in such a beautiful city, nor such a beautiful region. Beaches, rivers, lakes and mountains, and a historic and fascinating capital. All that Europe has to offer, and in one, affordable place… the question is, why would you not want to live here? Click here to find out all useful information for property owners in Valencia.
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If you need any help with investing in property, the Blue Key Team is here to help you. Our customers are foreigners looking to invest in property in Spain, more specifically in Valencia. We offer a complete service before, during and after the purchase. First of all Blue Key helps you find the property of your dreams. Once you have found the right property our lawyers guide you through the process. And finally after we handle the property management of the property and offer the property on the short term rental market. You can also buy property in Marbella.