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Discover Valencia Living by Stewart Masters (16 November 2007)
A renaissance of sorts seems to be taking place in Spain’s third largest city. The original Latin name “Valentia” means strength, and it seems that thanks to long-standing mayor Rita Barberá’s tireless efforts this vibrant, sun-kissed city is fast becoming one of the most dynamic on Spain’s Mediterranean coast. The results are apparent even as you fly into the city; from the plane you get a bird’s eye view of the totally redeveloped port area and of Calatrava’s futuristic City of Arts and Sciences. The formerly industrial port now boasts a state-of-the-art stylish harbour, home to the America’s Cup teams and bases, David Chipperfield’s prize-winning Foredeck building and a throng of buzzing Italian cafes.
Unsurprisingly Valencia has recently recorded the highest increase in tourism in Europe (15% per year) and this year, four million tourists are expected to drop by. It is also a destination of choice for homebuyers, drawn by the 300+ days of sunshine, an excellent transport infrastructure, the close proximity of 16 km (10 miles) of beaches and inexpensive food and drink in any of the city’s dazzling array of tapas bars and restaurants.
Sports fans, too, are flocking from across Europe: in addition to the 32nd America’s Cup, the city hosts the international motorcycle Grand Prix, in March 2008 it will hold the World Indoor Athletics Championships and the Formula One Grand Prix is also on the cards. In addition to these sporting events the new Valencia football stadium, designed to be the biggest and best in Europe, is currently under construction.
Families will love the Turia park, converted from a dried-out river bed into kilometres of cycle tracks, sports pitches, picnic areas, and even a new Bioparc zoo. They can also enjoy a relaxing stroll through the botanical gardens, and boat trips across the spectacular Albufera natural park, while clubbers throng to watering holes in the barrio del Carmen, elegant Canovas and the Blasco Ibañez student area, where a carefree Spanish-style night-life thrives. The university itself is home to tens of thousands of students from throughout the world, and young and old unite for the crazy week of Fallas festivities in March.
For those considering investing in the city, the hard statistics speak volumes. In 2005 overall property values increased by 15%, and for the first three-quarters of 2006 by a further 10%. Property is still a lot cheaper per square metre here than in Barcelona or Madrid, and over the next 30 years an estimated two million people will be living in Greater Valencia (Valencia metropolitana), currently there are 1 400 000 inhabitants. Entire areas of the city are being given facelifts. Take the area adjacent to the Malvarrosa beach. Historically something of a ghetto, it is now being transformed into a den of luxury homes, with its own Dubai palace-style 5-star hotel Las Arenas. The barrio del Carmen in the historic centre of the city is also undergoing major urban redevelopment. Other architectural landmarks fresh off the architect’s drawing board include Calatrava’s three sci-fi skyscrapers (two of which will be the highest buildings in Europe), and the Ágora amphitheatre. The Sociópolis modern-living development is also a benchmark in forward-thinking architecture.
What’s more Valencia is easily accessible from most European cities through traditional and low-cost airlines (Clickair, Ryanair, Vueling, Easyjet, Jet2), has excellent train connections (soon to be only 1 hour from Madrid) and is just a short ferry ride away from Ibiza and Mallorca. So whether you’re a homebuyer looking for the highest standard of living possible (including time to sip fresh orange juice on a sun-blazed outdoor terrace) or an investor seeking guaranteed returns on investment and long-term growth, now’s the time to discover Valencia!
