Valencia Property Market and Real Estate Guide
(Valencia, Valencian Community, Spain)
The historic Spanish city of Valencia lies on the shores of the Mediterranean, with its vast metropolitan area home to over two million people. Famous for its annual Las Fallas festival and its delicious seafood 'Paella Valenciana', the city boasts many architectural remnants of its glorious past and a thriving cultural scene.
A major European industrial, convention and commercial centre, Valencia is well-connected by road, rail, sea and air, with both European and international destinations. Within the city, the metro service, local trains and a bus network give access to the centre and the business and industrial areas, with the city's airport located only ten minutes from its downtown area. Metropolitan Valencia is divided into 19 districts, many of which are residential.
Although Spanish (and English) is spoken, Valencian and Castilian are the official languages of the city. The Mediterranean climate sees daytime temperatures rising to 32°C / 90°F in summer, with lows of around 10°C / 50°F in the coldest month, January. The city is home to an increasing number of economic migrants, mainly from South America, North Africa and eastern Europe.
Old-style historic properties in the city centre, Ciutat Vella, command high prices comparable with those in Madrid
, as do luxury apartments in L'Eixample, while properties in need of renovation can be bought comparatively cheaply. Camins al Grau is also an expensive area, while Jesus and Patraix give good value for money. All these areas are in the downtown sector - shopping around in outlying districts should result in more flexibility in price. Investment potential exists in Plaza del Real in the buy-to-let market, being influenced by the number of office blocks in the area and the new high-speed rail station.
Renting Serviced Apartments
Due to its popularity as a conference venue, Valencia offers a large number of serviced apartments at lower prices than comparative hotels. Most are located in and around the city centre and provide stylish comforts and all modern conveniences. Amenities range from luxury through boutique-style to studio apartments, with several aparthotels boasting extras such as swimming pools, exercise centres, spas and restaurants.
Buying Apartments and Houses
Whether buying for investment or personal use, there is no restriction on foreign-owned property in Spain. The purchasing process is straightforward, involving an initial 'option to purchase contract' and a ten percent deposit.
After the necessary searches are complete, both parties sign a binding sale agreement before a notary. The balance of the monies due is passed over and the property transfer is complete. Legal fees and taxes, including stamp duty, average ten percent of the purchase price, with land registration being an additional charge.
Real Estate Agents
A number of real estate agencies in the Valencia area are expat-owned and run or have English-speaking staff, making transactions straightforward and uncomplicated by language difficulties or misunderstandings.
Check out the following Valencia real estate agents:
Rawlins and Holden
Address: San Vicente Ferrer 13, Lliria, Valencia, 46160, Spain
Tel: +34 96 202 8218
This agency covers apartments and villas in the Valencia area and has an English-language website.
Address: Carerra Albaida, El Morqui, Terrateig, Valencia, 46842, Spain
Tel: +34 96 289 6143
This long-established agency has good after-sales services, as well as numerous properties and an English language website.
Valencia Property S.L.
Address: Calle Virgen del Rosario, 31 Bajo, La Pobla del Vallbona, Valencia, 46185, Spain
Tel: +34 90 274 7425
This agency deals with both sales and lettings, and its English-language website has useful information and many listings.