Valencia’s Historic Centre

The historic quarter of Valencia (the “ciutat vella”) is one of the most charming areas of the city. It includes its oldest streets and squares, which were the scene of key moments in the evolution and transformation of Valencia.

In the historic quarter we find vestiges of the Arab, Roman and Jewish cultures, important religious and civil buildings, museums, noble houses and palaces.

Nowadays, the historic quarter of Valencia, and the Carmen neighbourhood in particular, is one of the favourite destinations for visitors, thanks to its combination of small artisan and vintage shops, together with quality restaurants. To live in Valencia’s historic quarter is to travel day after day into the city’s past.

Many historic city centres in large cities show signs of degradation. Is Valencia’s historic centre showing the same?

Although there are still some undeveloped plots of land, the historic centre of Valencia is very well preserved. Both the municipal government and private owners have made an effort to rehabilitate and maintain the buildings. The result is a neighbourhood that retains the flavour of an important historical past.

What is the profile of the homebuyer in the historic centre of Valencia?

There are two clear profiles: the national buyer, generally Valencian, either local or from neighbouring towns, and the foreign buyer. Both share a common trait: they value the old town as a place to live because of its local services, such as the Central Market, and its important historical and cultural heritage.

The Valencian buyer knows the intrinsic value of this neighbourhood. Perhaps their family lived here or they grew up in the historic quarter and over the years have decided to return to their roots. On the other hand, the international buyer shows a clear interest in the culture and heritage of the city and wishes to experience the history of the city first hand.

What is the biggest attraction in the historic centre of Valencia?

Undoubtedly, the important historical and cultural heritage that defines the personality of the city. Buildings such as the Cathedral of Valencia (which houses the Holy Chalice), the Church of Santos Juanes, the Church of San Nicolás, the popular towers of Micalet and Santa Catalina, the Central Market or the Lonja de los Mercaderes, a jewel of European civil Gothic architecture and a World Heritage Site. Museums of European prestige such as the IVAM (Valencian Institute of Modern Art) or gems unknown to the general public such as l’IBER, the Soldaditos de Plomo Museum, which houses the world’s largest collection of these figures. Every alleyway and small square in Valencia’s old town tells a different story about the city.

What kind of properties can I buy in the historic centre of Valencia?

The legacy of the city’s important historical past is visible today in the manor houses and palaces. Only occasionally is it possible to buy one of these architectural gems in the historic centre of Valencia. These are very unique properties characterised by their large dimensions, high ceilings and meticulous ornamentation that has been respected after their refurbishment. These palaces can be used as the headquarters of companies or foundations, but also as private homes whose owners want a large space, which sometimes house art collections or valuable furniture.

On the other hand, in the historic centre we can also find refurbished homes located in high quality buildings. Many of them have terraces to enjoy the excellent climate of Valencia during most of the year.

I am thinking of buying a property in the old town but I will be spending long periods of time out of town, is renting still a good option?

Of course. Although there are limitations on short-term tourist rentals, the transfer of the property for medium and long-term rentals is a perfectly legal and valid option for making the investment in a house profitable. A quality property in the historic centre always arouses interest. At Rimontgó we can manage the entire rental process of your property and attend to any of the future tenant’s needs.

I am interested in the purchase of a building in the historic centre for its subsequent refurbishment. The ultimate goal is to have housing for sale or rent.

This is one of the cases that Rimontgó has worked on successfully in the past. We have managed the acquisition of complete properties for new national and foreign owners. After this, Rimontgó has taken care of the complete refurbishment of the property and the subsequent sale of the refurbished properties. In the event that the properties are destined for the rental market, we recommend the long-term rental option and we take care of selecting the tenants, managing the entire rental process and responding to all their needs once they are installed in the building.

What kind of lifestyle do I get when I buy a property in the historic centre?

Owning a home in the historic quarter is a fantastic decision for buyers who want to experience Valencia from the very heart of the city.

Gastronomy lovers have hundreds of options: from traditional tapas (tasca Ángel, bar la Pilarica, Central Bar, Ricard Camarena’s bar in the Central Market), to renowned restaurants such as Vaqueta, Origen Clandestino or the new Karak by Rakel Cernicharo.

Those interested in local produce, but also in everything that surrounds a first class market, should not miss the Central Market, full of stalls selling fresh produce, be it vegetables, meat, fish or seafood.

A stroll can take you from the large squares, such as Plaza de la Reina or Plaza de la Virgen (where you can admire the effigy of the Virgen de los Desamparados, known as La Geperudeta), to emblematic streets such as Calle Caballeros (where the Corpus Christi festival takes place) or Calle Quart.

One of the best-known aspects of Valencia’s Carmen neighbourhood is its nightlife. If, at the beginning of the 1980s, its streets saw the birth of the famous “Movida valenciana”, nowadays you can have your first drink in classic bars such as El Negrito (where writers, journalists, intellectuals and politicians have passed through) or go to Jimmy Glass, an institution in the world of jazz in the city of Valencia. To be “on the moon of Valencia” is an expression that is still very much alive today.

Is it a good option to buy a property and rent it out?

Valencia is a very active city in the rental market. More and more national and foreign professionals are choosing Valencia to develop their careers. In addition, Valencia is a city that receives thousands of students every year, as it has excellent universities, such as the UPV, and prestigious teaching centres, such as the European headquarters of Berklee College of Music. Acquiring a property for the rental market is an increasingly widespread option. At Rimontgó we will advise you, step by step, if you wish to explore this option.

What type of foreign clients buy property in Valencia?

There is no defined typology, although we can point to independent professionals who settle in Valencia with their families, those who work for foreign companies with headquarters in the city and, of course, retired people who buy a home in Valencia because of the quality of life offered by the city.

What guarantees can I count on when buying a property in Valencia?

When purchasing a property, at Rimontgó, we always recommend the advice of an accredited and experienced professional. The purchase of a property is a very important decision for any person and for this reason we insist on the need for advice and help. The housing market in Valencia, as in the rest of Spain, is regulated and has all the legal guarantees that protect the interests of both the buyer and the seller.

What are the expenses derived from the purchase of a property in Valencia?

The expenses for the buyer in Valencia are the same as in the rest of Spain: Notary and Property Registry fees, Value Added Tax (VAT), Stamp Duty and Transfer Tax and Stamp Duty. Some of these expenses depend on the value of the type of property. At Rimontgó we will accompany you in all the phases of the purchase process, and, previously, we will have offered you a detailed report on the costs derived from the acquisition of a property.

How long does it take to buy a property in Valencia?

It can be as quick as two weeks and as long as three months. It all depends on the degree of due diligence required on each property and on the organisation and experience of the real estate agent leading the transaction.

There is no set time frame. At Rimontgó we always analyse, in great detail, each operation and the market circumstances. The purchase of a property is an extremely important decision that affects the buyer and his family, so haste is never a good advisor. It is essential to take the time that each operation needs to fully enjoy the purchase of a home, which, after all, is also an investment.

Is it advisable to go to a real estate company when buying a property in Valencia?

More than convenient, we would say that it is highly advisable and, the more complicated a transaction may be, it may even be essential to go to a Chartered Real Estate Agent with years of experience. Although in Spain the property buying and selling market is a free market, at Rimontgó we always recommend that you go to professionals with experience and prestige. Expert advice in all phases of the purchase is the best tool to make an optimal decision.

Do I need any special documentation to buy a property?

At Rimontgó we advise our clients in all the administrative processes related to the purchase of a property, as well as during its ownership and subsequent transfer. We provide essential help in obtaining the NIE, opening a bank account and other necessary procedures to carry out the purchase or sale with all the legal guarantees.