After the crisis, Valencia is full of opportunities: hard hit by the explosion of the housing bubble, the third largest Spanish city has many things to offer buyers.
Spain’s third most populated city with 800,000 inhabitants (1,600,000 in the metropolitan area), Valencia, located 350 km south of Barcelona on the Mediterranean coast, has the wind in its sails. According to Tinsa, Spain’s leading real estate price assessment company, prices rose by 3.5% in 2016. But they remain half of the maximum recorded at the height of the real estate bubble. 152 euros on average for each square meter and about 4,000 euros per square meter in the upscale neighborhoods.
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VALENCIA, THE GOOD ALTERNATIVE IN MADRID AND BARCELONA
“This is an interesting alternative in Madrid and Barcelona, where the price rebound was earlier,” said José Antonio Lopez, territorial director of Tinsa in Valencia. “Prices are rising because of the gradual decline in supply and rising tourism,” adds the head of the Franco-Spanish Chamber of Commerce in Valencia, Sandrine Gil.
VALENCIA, A CITY EQUIPPED WITH INFRASTRUCTURE
The Valencia region was hit hard by the explosion of the real estate bubble in 2008, due to a frenetic construction in the 2000s on the Costa del Azahar and the Costa Blanca, but also a policy, sometimes qualified megalomaniac, hosting major events (America’s Cup, F1 urban circuit …).
Valencia has inherited major transportation infrastructure (international airport, high-speed train station and marina and commercial) and cultural (the City of Arts and Sciences, opera …).
QUARTERS WITH PRIVILEGE
Investors prefer purchases in luxury housing estates El Bosque, Santa Barbara or Campolivar and especially the popular areas like Ciutat Vella, Ensanche and Patacona beach. But other areas, less known, offer bargains at more moderate prices, such as El Campanar, Benimaclet and Patraix.
Text source: Le Monde
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