Valencia has a long and colourful history, reflected in the city’s stunning architecture. Founded during the Roman empire, the city has gone through numerous significant cultural shifts. During the Moorish era in the 7th century, Valencia was named Medina bu-Tarab. The city later reverted back to its Latin name, meaning “valiant” or “brave”. This blend of cultures means that Valencia boasts some of Spain’s most beautiful historic buildings. With such picturesque surroundings, it is no wonder many expats make it their ambition to live in Valencia.
Fast forward to the present day, Valencia is as cosmopolitan as its history. Valencia is Spain’s third-largest city, with over 800,000 residents. Today, Valencia is very multi-cultural with residents from all over Europe, Latin America and Morrocco. In fact, a recent census found that 15.1% of Valencians were born abroad. Certainly, the expat community is booming. Here, we give a quick overview of the lifestyle and property prospects in this beautiful coastal city.
Sun, sea and some very authentic paella
A huge draw for expats in Valencia is, of course, the fabulous weather. On average, the Valencian summer enjoys warm, sunny temperatures of around 25°C. In winter, things cool down but remain at comfortable highs of 17°C and generally fall no lower than 8°C. With less than 454mm of rainfall annually, if you live in Valencia, you can enjoy the sunshine on a terrace or on the seafront most of the year.
Speaking of terraces, another major selling point for Valencia is its cuisine. Influenced by the city’s rich cultural history, restaurants serve delicious Spanish food and wine. One of the highlights is the world-famous, classic Valencian dish, paella, which most experts agree was invented and developed in the region. Rice was brought to the Valencian region in the 10th century by the Moors, and today, a traditional Valencian paella includes chicken, rabbit and a locally-grown white bean called garrafó.
The Spanish lifestyle for less
Historic architecture, sun-drenched beaches and incredible cuisine are all very glamorous – so you may be surprised to learn that if you live in Valencia, the cost of living is relatively low. Although it is, of course, relative to the average monthly salary, eating and drinking in Valencia is quite inexpensive. For instance, many traditional restaurants offering a very reasonably priced three-course menú del día.
Plus, getting around is quite straightforward too. Valencia is a relatively small urban area, so if you move to Valencia you don’t necessarily need to own a car to enjoy everything the city has to offer. Valencia has an underground metro that covers the centre and suburbs and a small tram system. Tickets are very affordable, with a 10-journey pass costing just €7.60. Valencia is also very cyclist-friendly, with lots of roomy bicycle lanes.
Purchasing your Valencian getaway
Today, the Spanish property market has been at it’s most stable since before 2008. Certainly, this is great for people who purchased before that date and, until recently, you might have found that you needed to use up your whole budget. However, in light of the recent coronavirus crisis, it is possible that property prices will become attractive once more.
There is a lot of housing stock available in Valencia, with properties suited to many lifestyles. Currently, you could expect to find a very well-appointed two-bedroom property in the city centre for around €200,000. Meanwhile, in the suburbs, purchasers can find great value larger properties with outside space. Remember, whatever your taste or budget, ensure you enlist the services of a reputable estate agent.
Live in Valencia: Get expert advice
Valencia is a beautiful city with so much to offer expats. From amazing weather to breathtaking historical architecture, the quality of life in Valencia is very high. Along with some very attractive investment opportunities on the property market, it’s unsurprising Valencia is becoming an increasingly popular destination.
If you’re looking to live in Valencia, Ábaco Advisers would invite you to contact us. We can help you navigate the legalities of the Spanish property market and assist you with the legal conveyancing process. For a free consultation, without obligation, please, fill out this form and we will be in touch when it is convenient for you.