Sunny Valencia, full of history with picture-perfect beaches, attracts foreigners from the EU and other countries worldwide. There is no wonder why such a vibrant Spanish city would become a favorite holiday destination. If you fell in love with local architecture, culture, and people, discover easy tips on how foreigners can survive in the Spanish real estate market. That will make your search for Valencia property for sale easier to find your dream holiday home or make a successful business from seasonal rental.
1. Figure out your residency and visa options
If you’re a non-EU resident, the first thing to research is how long you can stay in Spain. It’s foreigners’ responsibility to check visa options on an authoritative website if there are any travel limitations depending on the country of origin.
On the other hand, if you’re looking for property in Spain to buy as an investment, you should consider participating in the Golden Visa Program. The special investor visa encourages foreigners to open businesses and start-ups in Spanish cities, giving you the right of an EU resident, including free healthcare and education. Owning a house in Valencia might not guarantee you a Golden visa, yet it will speed up the process of getting the needed documents on the way to residency.
2. Sort out the financing
Valencia is one of the most expensive real estate markets in Spain, after Madrid and Barcelona. Therefore, a homebuyer should get their finance sorted before starting the house hunt. Some Spanish banks offer mortgages to foreigners, yet some homebuyers prefer to pay using their assets. In any case, researching your options and transferring the needed sum into euros before making an offer is crucial, as after you sign a deal, no one will wait for your to start taking care of the money side of the equation.
3. Research the neighborhoods
Valencia city is right on the cost of the Miditteranin sea, expanding your options for a holiday house to the suburbs as well. If your goal is to get a peaceful family vacation on stunning beaches and get immersed in an authentic Spanish lifestyle, explore those suburbs:
- Alboraya. The northeast suburb is only one kilometer from the city and has a great commute option to get to the city whenever you need. It is famous for its picturesque beaches and high-end villas on the seafront.
- Betera. A luxurious suburb with charming little streets, golf clubs, and lavish real estate is a perfect destination to enjoy the Miditteranian sun with the family.
- Gilet. A cozy and small town with astonishing views of mountains and sea. The real estate prices are much more affordable than on Betera and Alboyara, yet it doesn’t affect the quality of life.
However, the city offers plenty of different housing options, from grand apartments in Art Deco historical buildings on fashionable streets to high-end villas with spacious gardens and swimming pools. Keep an eye on those five people’s favorite neighborhoods when home-hunting in Valencia:
- North Ciutat Vella is booming with major historical monuments, tourist attractions, and cultural events.
- South Ciutat Vella is famous for its delicious restaurants embracing authentic Spanish culture and Valencian tradition.
- Russafa is a young and never-sleeping neighborhood with endless nightclubs, bars, and parties on the streets all night.
- Gran Via is a chick and posh area with the best shopping spots, grand architecture, and trendy, high-end establishments.
- El Pilar has a reputation as a young yet quiet neighborhood, with a slow-living lifestyle just a couple of metro stops away from the bustle of the city.
4. Visit Valencia before making a purchase.
One of the main challenges of buying property in foreign countries is understanding the city atmosphere and neighborhoods, how long it takes to commute to strategic places, and what kind of people could be your neighbors. You can get seduced by low prices and then end up with property in a poor and unsafe area or be in the middle of the party street when you prefer to take family vacations with kids. To avoid making those mistakes, travel to Valencia first to explore your top-preferred area, see how the dynamics change from day to night and meet a trusted bilingual realtor face-to-face.
One should remember that real estate might differ from what you are used to in your home country. Therefore it’s necessary to visit at least some apartments or villas to understand the dimensions and features of Spanish property. Without a doubt, it’s better if you can stick around for actual showings and choose your future home in real life. However, even if your schedule doesn’t allow it, you’ll still be familiar with Valencian real estate tradition and make the right decision.
5. Hire a local realtor
A professional real estate agent speaking your language is a must-have for any foreign homebuyer. Even if you’re experienced in the real estate industry back home, there are still costumes, regulations, and pitfalls that you should be aware of when home shopping in Valencia. The local realtor can assist you with navigating the neighborhoods, advocate for the agreed budget and requirements, and protect you from scams. Real estate agencies in Valencia have secure options on the market, with no debts on the seller’s names or other pitfalls. By partnering up with a professional agent, you’ll get a stress-free home-shopping experience and will be one step closer to moving to the house of your dreams.
The final word
Buying property abroad seems scary only at first. In reality, if you follow universal tips and suggestions of professional experts, you can get your dream home in Valencia in no time and enjoy the slow Medetterinina lifestyle whenever you want.