Real Estate in Valencia, Spain
Last updated on Apr 14, 2024
Summary: The most desirable neighborhoods in Valencia, Spain are El Carmen, Ruzafa, and El Pla del Real. The average cost to buy a nice 2 bedroom home in Valencia is around $200,000 USD, and a nice 3 bedroom home is around $250,000 USD. These properties typically include modern amenities such as air conditioning, central heating, and updated kitchens and bathrooms. Foreigners are allowed to purchase property in Valencia, however, they must obtain a NIE (Foreigner Identification Number) in order to do so. An expat looking to buy a home in Valencia should begin by researching the different neighborhoods and their amenities, as well as the average cost of properties in each area. They should also consider their budget and what type of property they are looking for. It is also important to research the local real estate market and speak to a local real estate agent to get a better understanding of the process.
How do I find a place to live in Valencia?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"A friend helped me look through the area where I am living and make some calls to rental agents. I like this area, and have a great apartment that is walking distance to the city but very modern and comfortable. There were several zones that I liked, but after viewing a large number of apartments throughout the city, I only found one that was a good price and well-appointed," said one person in Valencia.
"One of the best ways to find a place to live in Valencia is to use online rental websites such as Idealista, Fotocasa, and Habitaclia. These websites allow you to search for rental properties in Valencia by location, price, and other criteria. Additionally, you can contact local real estate agents who specialize in rental properties in Valencia. They can provide you with more information about the local rental market and help you find a place that meets your needs. Finally, you can also look for rental postings on social media sites such as Facebook and Twitter," remarked one foreigner who made the move to Valencia.
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With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Click connect to have our partner contact you via e-mail and/or phone.
What is a typical expat home or apartment like in Valencia?
"Expat homes and apartments in Valencia are typically modern and spacious, with plenty of natural light. Many apartments have balconies or terraces, offering stunning views of the city and the Mediterranean Sea. Expat homes and apartments are often equipped with the latest amenities, such as air conditioning, high-speed internet, and modern appliances. Many expats also enjoy the convenience of living close to the city center, with easy access to public transportation, restaurants, and shops," explained one expat living in Valencia, Spain.
"I have been very happy here in my apartment. The housing market is quite dynamic, and you can find apartments very quickly... and I chose to use a rental agent because I wanted the assurances to be legally recognized. I had heard horror stories about renting without a rental agent, and was not going to go through that stress, even though a rental agent is more expensive. I think that apartments are very common expat options for living in Valencia," said one person in Valencia.
With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
Click connect to have our partner contact you via e-mail and/or phone.
With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Valencia?
If you are thinking about moving to Valencia, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Valencia is generally considered to be quite reasonable. Prices vary depending on the size and location of the property, but the average cost of a one-bedroom apartment in the city centre is around €700-800 per month. Outside of the city centre, prices can be significantly lower," remarked one foreigner who made the move to Valencia.
"I come from the Atlanta, Georgia, USA, area, and housing costs there are significant, although many of the homes are detached, not apartments. I am paying a very reasonable rent for a 2-bedroom apartment with a garage. The typical range for a good apartment in a modern building is between 400 and 600 Euros, and you pay much more for much less space in the older and more trendy parts of town," explained one person living in Valencia, Spain.
Should I buy or rent a home in Valencia?
If you have not spent a lot of time in Valencia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Valencia can be a great investment. The city is known for its vibrant culture, beautiful beaches, and excellent climate. The cost of living is relatively low compared to other cities in Spain, making it an attractive option for those looking to purchase a home. Additionally, the city has a strong economy and is home to many international businesses. Renting a home in Valencia can also be a great option, as it allows you to experience the city without the commitment of buying a home. The rental market is competitive, so it is important to do your research and find the best deal. Ultimately, the decision to buy or rent a home in Valencia will depend on your individual needs and preferences," said one expat who made the move to Valencia.
What do I need to know when buying property in Valencia?
When we asked expats what advice they would give a foreigner before buying a property in Valencia, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Spain, including the need for a Spanish tax identification number. 3. It is important to understand the different types of property available in Valencia, such as apartments, villas, and townhouses. 4. It is important to understand the different types of mortgages available in Spain, such as fixed-rate mortgages and variable-rate mortgages. 5. It is important to understand the different taxes associated with purchasing property in Spain, such as the transfer tax and the annual property tax. 6. It is important to understand the different types of insurance available in Spain, such as home insurance and life insurance. 7. It is important to understand the different types of fees associated with purchasing property in Spain, such as notary fees and legal fees. 8. It is important to understand the different types of services available in Valencia, such as utilities, transportation, and healthcare. 9. It is important to understand the different types of amenities available in Valencia, such as parks, restaurants, and shopping centers. 10. It is important to understand the different types of cultural activities available in Valencia, such as festivals, concerts, and museums," remarked one foreigner who made the move to Valencia.
Are foreigners allowed to own property in Valencia?
When we asked expats what advice they would give a foreigner before buying a property in Valencia, they said...
"Yes, foreigners are allowed to own property in Valencia. Non-residents of Spain are able to purchase property in the same way as Spanish citizens, and the process is relatively straightforward. The only difference is that non-residents must open a Spanish bank account in order to complete the purchase. Additionally, non-residents must obtain a tax identification number from the Spanish tax office in order to complete the purchase," explained one expat in Valencia.
What appliances are typically included in a rental?
We asked foreigners in Valencia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Valencia typically include a refrigerator, stove, oven, washing machine, and dishwasher. Additionally, some properties may include air conditioning, a microwave, and a clothes dryer," said one person in Valencia.
Additional Information about Searching for a Home in Valencia:
We asked foreigners in Valencia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Valencia by looking online for real estate websites that specialize in the area, such as Idealista or Fotocasa. They can also search for local real estate agents who can help them find the perfect home. Additionally, expats can look for rental listings on websites such as Easypiso or Spotahome. Finally, expats can join local expat groups on social media to ask for advice and recommendations from other expats who have already found homes in Valencia," said one in Valencia.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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