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The Financial Times confirms the growing interest in the Valencia real estate market

In recent weeks, the news has largely focused on the important political events that occurred in the community of Catalonia. As a result of this uncertainty, nearly 2,000 Catalan companies have already moved their fiscal or social headquarters (or both) to other Spanish regions. According to a detailed article published by the prestigious Financial Times, Valencia stands out as one of the cities that will benefit the most by this influx of businesses and investors. This means the Valencian real estate market would grow at levels not seen in more than a decade.

The British newspaper highlights that prior to the illegal referendum held on October 1st, 80% of the investors who hesitated between Barcelona and Valencia chose the first city, but now, 70% prefer the second city. This is a historical trend that has been reversed completely and has turned around Valencia's bad image in the international press. FT remembers how the corruption cases or the questionable construction projects undertaken before the last major crisis damaged the Valencian real estate market. These issues caused prices to plummet between 30% and 50% during the Great Recession.

This circumstance made Valencia one of the major Spanish cities with the greatest growth potential in the coming years. In fact, in June 2017 we were able to observe that the annual growth of prices in the Valencian capital (2.6%) remained almost one point below the national average (3.5%). Our colleague, Sonia Fabra from Engel & Völkers' Valencia office expects 2018 to be the best year for the city's real estate since 2007. Logically, certain urban areas will be starting off with an advantage in this race to attract more investments.

Valencia - _MG_0658rgb.jpg
When we mention urban areas, we mean the Ensanche district, right in the centre of the city. Especially known for its abundance of modernist buildings, such as Mercado de Colón, it is one of the most sought after areas for residential investment in luxury properties. Without going any further, Engel & Völkers manages several luxury properties in this part of the city (as highlighted by FT). The vicinity of the City of Arts and Sciences is another area that is appreciably increasing prices per square metre.

But what does Valencia offer buyers besides a large profit margin? Aside from the typical Mediterranean lifestyle, with an average annual temperature of around 20º C, a varied cuisine and more cultural activity offers than many other major European cities. The main thing that is currently attracting investors is the political and social stability that is felt throughout the Valencian Community. Oblivious to any nationalist's temptation, Valencia is positioned as a property market's sanctuary on the shores of the Mediterranean.

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