Spain: Vital, vibrant Valencia

By Andrea Watson
Posted: 2010/04/28

This Spanish city of Valencia, with its outstanding architectural heritage, is a beguiling mix of cultures, says ANDREA WATSON

THE magnificent Mediterranean city of Valencia saw massive investment by the Spanish government before hosting the America's Cup in 2007.
More than a billion euros was spent on upgrading the marina and other infrastructure, while the historic old Carmen district of the city also benefited from the funds, as well as from private investment.

However, Valencia's biggest asset is arguably the modern quarter, known as the City of Arts and Sciences, which is built in a former river bed.
The river Turia was diverted around the city following a catastrophic flood in 1957 and in a rare flash of foresight the municipal authorities voted against proposals to build a motorway along its course, despite the "natural" route it offered. Instead it was decided to create a public garden, which has proved extremely popular with locals and tourists alike.

In the late 1990s the new leisure area's success led to the emergence of a grand scheme to create the City of Arts and Sciences, masterminded by architect Santiago Calatrava, who designed a string of outstanding buildings including the sensational eye-shaped L'Hemisfèric, which houses an IMAX cinema and planetarium, a science museum resembling the skeleton of a whale and the daring pod-shaped opera house.

This modernist architectural gem has boosted the local economy considerably since its inauguration in 1998. The location is also favoured by many marketing firms, particularly for new car launches.

Yet perhaps the biggest benefit it brought to locals was for those with properties around the complex, which have grown exponentially in value since its construction.

Avenida de Francia, which adjoins the complex, has become one of the city's most sought-after addresses, with many luxury apartments having been built in the area. There are many properties for sale in and around the City of Arts and Sciences, with prices for two or three-bedroom apartments ranging from E380,000 (£327,000) to E450,000. Most sellers are willing to negotiate and there are definitely some bargains to be had.
Valencia is steeped in history and some blood.

It was founded in the 2nd century BC by the Romans and has been occupied by the Visigoths, Moors, French and even by the English, briefly, during the War of the Spanish Succession.

All these cultures left traces in the buzzing historic heart of Valencia. The Barrio del Carmen neighbourhood is home to scores of old palaces and one of Europe's largest fruit markets. Strolling through the area is akin to stepping back in time. Calle Caballeros, which winds through the Carmen, is lined by ornate historic buildings with wonderfully decorated façades and imposing entrances guarded by beautiful, antique timber doors. Historic buildings include La Lonja, the old silk market, now Unesco-protected as well as the parliament, Las Cortes Valencianas. But it's not just the architecture that's historic. The area has, reportedly, Europe's longest-running court, the Water Court, which meets weekly outside the cathedral to settle disputes between farmers and has been so doing for more than 700 years.

Water is the agricultural sector's lifeblood and the area's irrigation system dates back to Arabic times.

Spain's top property website, idealista.com, reveals there are 3,541 properties for sale in the city of Valencia but the sought-after Carmen area, bounded by Guillem de Castro, Quart, Caballeros and Serranos, has just 59 properties for sale. Rents, which have fallen, are also stronger in the Carmen.

"The average asking price per square metre in the city is E2,500 but prices in the Carmen are at E2,660, an increase of six per cent above the city average, " said Conor Wilde, who runs Spain and Property, a company specialising in property sales and client relocation services in Valencia and the surrounding areas.

He has helped many Britons move to the area and assists in finding schools, arranging building projects and medical care among other things. "The rental market in the city is quite buoyant with lots of young people having taken up the government's grant of E210 per month for those under 35 looking to live away from their parents."

There is more good news. The Carmen is to get a metro link to the marina and the airport at a cost of E500million and a high-speed train which will cut the journey time to Madrid from 3.5 hours to an incredible 85 minutes is scheduled for later this year.

ATTRACTIONS TO SAVOUR:
Valencia's cathedral which houses the Santo Caliz, a 1stcentury middle-Eastern artefact believed by many to be the Holy Grail
The ancient winding streets of the Barrio del Carmen
La Lonja de la Seda, now a Unescoprotected World Heritage Site
The City of Arts and Sciences
The magnificent marina which was rebuilt for the America's Cup