Valencia’s historic centre continues to strengthen its appeal as a top destination for international property buyers. According to the latest figures from Engel & Völkers, 66% of the home sales handled by the agency in Ciutat Vella during Q1 2024 involved foreign clients. The company completed 57 sales in the area, marking a 39% increase compared to the same period last year.
Most international buyers are European, with notable interest from the United States, Italy, France and the United Kingdom, as well as the Netherlands, Belgium and Germany. Many seek a second home or plan to relocate to Valencia, drawn by its lifestyle, climate, culture and architectural charm.
The most sought-after properties in Valencia’s historic centre are found in neighbourhoods like El Carmen, La Seu and Xerea. These homes often preserve original features, such as high ceilings, traditional tiled floors, and antique woodwork, which, combined with the central location, make them especially attractive to buyers. Whether move-in ready or in need of renovation, their character and charm justify the investment. According to Engel & Völkers, the average sale price in Ciutat Vella is around €470,000 for 90 square metres, equating to approximately €5,222 per square metre.
The rental market is also thriving. In Q1 2024, Engel & Völkers closed 91 rental agreements in the area, with an average monthly rent of €1,300. These properties typically measure 76 square metres, putting the average rental price at about €17 per square metre. Foreign tenants account for 60% of these lets, highlighting the area’s continued appeal for both short- and long-term residents.
Engel & Völkers highlights that this trend confirms Ciutat Vella’s consolidation as a prime area within Valencia’s property market, particularly among international buyers. Despite current regulatory measures and limitations on tourist rentals, the firm anticipates that foreign demand will remain steady throughout the year. This resilience is largely fuelled by the district’s architectural heritage, broad range of amenities, vibrant cultural life and its enviable location at the heart of the city.
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