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Tuesday, March 21st, 2017

Valencia, a city of great interest to international buyers

Mercado de Colón

Many publications have had Valencia as their focus over the last year as one of the best cities to invest in, due to its exclusive luxury real estate market, but also for the excellent quality of life the city offers.

In the ‘The Year of the Comeback Markets’ article published by Christie’s International Real Estate’s blog ‘Luxury Defined’, Valencia heads up the list of cities whose real estate markets experienced significant growth in 2015. Property sales in Valencia increased by 89% in comparison to 2014, an increase due to the sale of properties valuing at 1,000,000 + dollars. There is no doubt that the international buyer played a key role in this increase, however there are other contributing factors such as the quality of life on offer, the relatively lower prices compared to cities such as Barcelona & Madrid, as well as the possibility to obtain a residence permit by acquiring one of these properties.

Basilica and Valencia Cathedral

Going back to the point of the quality of life, a combination that includes gastronomy, the climate, culture and art, Christie’s International Real Estate included Valencia once again in their ’10 Cities to Watch in 2017’, a list of ten cities that attract the attention of international buyers not just for their real estate markets. Valencia was joined on the list by cities such as Porto, Calgary, Bogota, Vienna, Panama, Auckland, Honolulu, Lisbon and Cincinnati.

The growing tourism, excellent gastronomy and the beaches have been some of the points highlighted by the digital publication Huffington Post in their ’11 Of The Greatest Cities For Living Abroad In 2016’ which included Valencia as one of the 11 cities. In order to create this list, they compiled information from publications such as ‘Expat Explorer Survey’ (HSBC’s annual report), ‘Expat Insider Survey’ (study by Internations) and ‘Urban Europe Report’ (annual Eurostat report’).

Iglesia (Church) de los Santos Juanes de Valencia and Mercado de Colón

Finally, Jonathan Smith made mention of the Ruzafa neighborhood in his ‘Five reasons to live in Ruzafa, Valencia, Spain’ article in the Financial Times as one of the most buzzing areas of Valencia, thanks to the exquisite gastronomy, especially fusion cuisine and the cultural and artistic offerings, with a heavy presence of creative studios, professionals and design studios.

Photos courtesy of Jorge Bellver.

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