Why Valencia, Spain is a property hotspot

Just two hours from the UK and boasting a delightful year-round climate, Spain’s third-largest city, Valencia,has a lot to offer overseas home buyers.

Location and landscape

You’ll find Valencia on Spain’s eastern coast at the mouth of the Turia River on the shores of the Mediterranean. As such, the city enjoys long sandy beaches and pleasantly warm waters that can get as toasty as 26 degrees in the summer.

Valencia’s positioning makes it a fantastic base to visit some of Spain’s other cities – you can be in Barcelona in three hours and Madrid in an hour and a half. There are also regular ferries between the city and the Balearic Islands.

Valencia also boasts the largest urban park in Europe. Turia Gardens is an 8km long park that crosses the entirety of the city, built on the old course of the Turia River. The park was created after catastrophic flooding in 1957 caused the river to divert and the riverbeds to empty. Within the park there are facilities to play just about every sport you can think of and it is a major hub for both sporting and socialising.

Notable buying spots

One of the biggest attractions of Valencia for overseas buyers is that the city caters for everyone.

Retirees tend to enjoy the great weather, healthy lifestyle and cheap cost of living. Many retired buyers look to Patacona or El-Cabanal because of their proximity to the ocean. Another popular area is Port Saplaya, just north of the city, referred to as Valencia’s ‘Little Venice’. Or consider one of the towns nestled in the foothills of the Calderona Mountains such as Betera, Lliria and Olocau.

Many young professionals also flock to Valencia, particularly ‘digital nomads’ – those that work remotely and entirely online (something that many of us will relate to in the last year or so!). The city is a popular choice for these people thanks to the speedy Wi-Fi, laid back lifestyle and cheap rent in the suburbs.

Young professionals tend to look in El Carmen, Ruzafa, Benimaclet, El-Cabanyal and Patraix. Ruzafa is ‘cool’ with brilliant bars, restaurants and co-working spaces. Benimaclet has a great community feel and has live music every night of the week.

And then there are those that just want to visit the city in the holidays. Many holiday home owners buy in the centre and rent out their homes as AirBnBs – buying in El Carmen, Ruzafa or Canovas is the best choice for tourist footfall. Alternatively, buying just outside the city in the Southern Valencia region opens up a whole new range of properties, many of which will have more space and a swimming pool.

The lifestyle

Valencia is sports mad. With a huge football stadium at the centre, an expansive urban park and extensive cycle lanes, it is the perfect place for active expats. However, it’s not all go – the general lifestyle is very laidback.

The pleasant climate is another major bonus that comes with living in Valencia. The city soaks up around 2,660 hours of sunshine a year, and being by the sea, it doesn’t get too hot; even in the summer, temperatures range from around 22 degrees to 30. Winters are mostly dry and mild. So much so, that they almost resemble British summers!

When it comes to culture, Valencia leads the way. The city still has a very ‘Spanish’ feel to it and is a great place to learn the language. There is also a plethora of bars, restaurants and cafes. Whether you are after fine dining or something a bit quirkier, you’ll find it in Valencia. And of course, if you are a fan of Paella, then you’ll find some of the best in Valencia – after all, it is the birthplace of this very famous Spanish dish!

Property

The cost of living in Valencia is extremely affordable, particularly for a Spanish city, it’s about 86% cheaper to buy an apartment in the city centre in Valencia compared to Madrid. Utilities are also around 17% cheaper in Valencia.

In the city itself, most properties are apartments. You can find two-bedroom apartments close to the trendy El-Cabanyal for just over €100,000. Larger and more modern apartments can be over €300,000.

Alternatively, if are happy to buy further out from the city you can find spacious villas with swimming pools for just over €300,000 in the towns of Bétera and Guadassuar, in Lliria property is even cheaper with three-bedroom villas going for around €100,000-€160,000.

Getting there

It’s incredibly easy to get to Valencia, with regular low-cost flights from the UK. Both Easyjet and Ryanair fly into Valencia airport and you can find return flights from as little as £30. Flight time is around 2 hours 20 minutes.

Alternatively, you can easily get the train from other major cities in Spain. It would take you two hours from Madrid and Alicante or three hours from Barcelona.