Buyers, including many foreigners, are increasingly looking to Valencia as a lower-cost alternative to Barcelona, attracted by the city’s relaxed lifestyle, vibrant nightlife, stunning architecture and beautiful beaches. We take a closer look at why sales in Spain’s third city are soaring as well as some of the latest new homes on the market.
The third largest city in Spain, Valencia sits at the heart of the Mediterranean coast and offers a pleasant, mild climate, delicious local cuisine and a plethora of interesting places to visit thanks to the city’s cultural and historical heritage.
Valencia has a wealth of outstanding buildings including the spectacular Ciudad de las Artes y las Ciencias and the biggest aquarium in Europe, while the surrounding areas offer everything from action sports such as hiking, rafting, climbing and horse riding to more relaxing vineyard tours.
It is easy to move around the city courtesy of the excellent public transport network. There are also high-speed train connections with Madrid, Barcelona and other major cities. Valencia airport is one of Spain’s largest and busiest, with flights to all the main Spanish and European cities.
Valencia offers endless opportunities for relaxed city and beach living, and its compact layout makes it perfect for a gentle wander, shopping trip or rich cultural exploration. The city is also renowned for its gastronomic excellence and is home to the world-famous paella.
Appeal to Foreigners
The strong appeal to foreigners of the Valencia lifestyle is confirmed by the latest report from the Spanish Registrars Association (Registradores), which showed that 10% of the total sales completed in Valencia in 2017 were made by foreigners. This is above the percentage in both Madrid (6%) and Barcelona (9%).
Official figures from the National Institute of Statistics showed that 5,179 properties exchanged hands in Valencia in the first two months of 2018, up 25.67% compared to the same period in 2017.
The total number of Lucas Fox Valencia sales in the first four months of 2018 also increased, by 20% over the same period in 2017, with 33% of all buyers coming from outside Spain.
Price comparison between Valencia and other cities in Spain
According to property portal Idealista, average prices in Valencia city ended the first quarter of 2018 on €1,743 per square metre, up €205 on the price at the end of the first quarter of 2017, showing an annual growth rate of 13%. Although prices are increasing, Valencia is still an extremely attractive option when compared to Spain’s two largest cities, Madrid and Barcelona, where average prices ended the first quarter at €3,540 and €4,334 per square metre respectively. Investors – watch this space!
Jardines de la Ciudadela
Lucas Fox’s latest exciting New Development project in Valencia is situated in the heart of the city, close to the Turia Gardens. Jardines de la Ciudadela offers 3 and 4-bedroom apartments and an exquisite penthouse. The development boasts a fantastic communal terrace, arguably one of the largest in the city.
View the Jardines de la Ciudadela on the Lucas Fox website