Valencia is one of the three largest cities in Spain, located on the coast of the Mediterranean Sea. It boasts a well-developed urban infrastructure where modern buildings harmoniously blend with ancient structures, gothic-style churches, and remnants of old city fortifications. Among the most famous landmarks are the Valencia Cathedral, the park situated in the dried bed of the Turia River, and the massive architectural complex "City of Arts and Sciences."
Many real estate experts consider Valencia as one of the best places for relocation and purchasing property in Spain. While it's a major commercial and industrial hub, Valencia is not as crowded or noisy as, for example, Madrid or Barcelona. The warm and sunny city often attracts freelancers and digital nomads working remotely for large international companies.
Content:
- 7 reasons to move to Valencia
- Valencia's diversity for different people
- Valencia for freelancers and digital nomads
- Living and real estate costs
- Popular districts
- Selecting and purchasing real estate
7 reasons to move to Valencia
Here are seven reasons why Valencia stands out as an ideal city for permanent residence:
- A comfortable Mediterranean climate with warm winters, hot summers, and an abundance of sunny days allows residents to spend more time outdoors and enjoy pleasant weather almost all year round.
- A well-organised public transport system combined with an extensive road network facilitates quick access to popular beaches from the city centre and other areas. Moreover, the local beaches are known for their clean waters and excellent conditions for relaxation and swimming.
- High-quality food at affordable prices is available, featuring a wide variety of fruits and vegetables throughout the year and a broad selection of fish and seafood.
- A higher safety level compared to other major Spanish cities.
- Well-maintained city parks, green squares, sports grounds, children's playgrounds, pedestrian paths, and bike trails encourage residents to spend more time outdoors and maintain great physical health.
- In several central city districts, car traffic is restricted, creating a pedestrian-friendly environment. Meanwhile, residents can make use of public transport or bicycles.
- Lower property rental and purchase prices compared to Madrid and Barcelona.
Valencia's diversity for different people
Valencia is incredibly diverse and multifaceted, making it suitable for a wide range of people. For instance, the central districts are perfect for younger individuals and those who enjoy strolling busy streets, shopping at trendy stores, and spending time in restaurants, clubs, and bars. Concurrently, the city centre is renowned for its historic buildings. Tours of gothic churches, ancient castles, museums, and art galleries are sure to appeal to history and art enthusiasts.
Close to the old centre is the famed park located in the bed of the Turia River. Several residential quarters have been built around it. Properties here are ideal for those who love walking or cycling and prefer outdoor exercises.
Valencia is a haven for Mediterranean cuisine lovers. Local cafes and restaurants offer traditional Spanish dishes such as paella, baked rice with vegetables and meat, rice with beans, and the famous tapas snacks. Many experts believe the Mediterranean diet is one of the healthiest, rich in vegetables and seafood.
Valencia for freelancers and digital nomads
Thanks to its comfortable climate, impressive urban infrastructure, and proximity to the Mediterranean, Valencia is popular among remote workers from large corporations and freelancers. Specifically for this group, there's the Digital Nomad Visa. Issued for a year, its holders can subsequently apply for a Spanish temporary residence permit (TRP). After living in the country on a TRP for five years, they can obtain permanent residency. When applying for the Digital Nomad Visa, applicants can also secure visas for close family members, including spouses and children.
Benefits of the Digital Nomad Visa include:
- Opening accounts in Spanish banks.
- Accessing free services from the national health system.
- Enrolling children in free public schools.
- Travelling to Schengen zone countries without a special visa.
To qualify for the Digital Nomad Visa, one needs to be a freelancer or a remote worker with a service contract signed with an international company. Moreover, the applicant should have a monthly income of at least twice the minimum wage in Spain.
Living and real estate costs
Valencia is not the most expensive city in Spain. The cost of living here is about 15% cheaper than in Madrid. Prices for food and clothing are quite affordable. Monthly expenses for property owners average around 700€. Rent for a one-bedroom apartment starts at 450€ per month.
Many expats opt to buy homes or apartments in Spain as it's a good way to preserve capital. A one-bedroom apartment with an area of 82 m2 can be purchased for €150,000. A small single-story villa with two bedrooms will cost around €355,000. There are also luxury home options, with prices around €1 million.
Foreigners buying property worth €500,000 or more can obtain a Spanish temporary residence permit (TRP) through investment.
Popular districts
Although Valencia is located on the Mediterranean coast, its coastal areas are not among the most popular for buying property, mainly because they mostly have old buildings and not very well-developed infrastructure. Many also complain about strong winds and increased humidity felt near the sea.
The most popular and prestigious districts of Valencia for property purchases are located in the central part of the city. This includes the old town and areas of the El Pla Del Real administrative district. This region boasts high-end real estate, with most residential units being renovated old buildings with apartments.
If you're considering purchasing an apartment in a modern housing complex close to the centre, then the Quatre Carreres administrative district is worth looking into. It's located near the "City of Arts and Sciences" complex and the Turia River Park. Housing in this area mostly consists of gated comfortable complexes with swimming pools, gyms, and other amenities.
Villas are often located on the outskirts of the city. The most prestigious homes border golf clubs. Modern mansions are built in gated residential villages with 24-hour security. Often, these cottage villages are chosen for their scenic natural landscapes, allowing residents to enjoy picturesque views of green valleys or the sea horizon.
Selecting and purchasing real estate
Valencia's real estate market offers a variety of housing options: studios, apartments, villas, townhouses. Buyers can choose ready-to-move properties from the secondary market or prefer new or under-construction housing complexes from developers. Typically, new properties are built in a modern style, with thoughtfully designed functional layouts and stylish finishes in neutral tones, allowing future owners to decorate the home to their taste.
When purchasing an under-construction property directly from a developer, buyers can take advantage of interest-free instalment plans. Developers often offer convenient payment schemes throughout the entire construction period. Properties in under-construction development projects in Spain are frequently bought by investors who aim to maximise profits from reselling the property or subsequently renting it out.
To explore available real estate options in Valencia, please visit our catalogue. Here, we've compiled offers from developers and real estate agencies with up-to-date prices, photos, and descriptions. Prices on the site are listed in euros and dollars to make it easier for you to navigate the local market. If needed, get in touch with our specialist who will help you find the most appealing apartment or house in Spain.