Valencia’s Property Market Accessible to Foreigners?

By Richard J. Robinson 3 years ago

Certainly! In Valencia, there are no restrictions on acquiring commercial, residential, or land property.

Foreigners seeking a pleasant atmosphere, a high quality of living, and, of course, excellent food flock to Valencia. Whether you want to work in one of Valencia’s areas, such as Madrid, Barcelona, or Marbella, or retire to the Spanish shore, you’ll need to find a place to reside.

The rules for purchasing properties for sale Valencia as a foreigner are simple. You’ll need a financial number before you can buy a house, which you may get by going to a police station with your passport. For Spanish or EU nationals, this is usually done the same day, but it may take a few weeks for others.

When buying a home in Valencia as a foreigner, the NIE (Number of Foreigner Identification) is all you need legally. Every transaction in Valencia requires this number, which is unique to each individual.

It must appear on whatever document you sign or receive in Valencia, thus you must have it before signing the deed. Although obtaining the NIE is not difficult, it does take time.

One of the most rewarding investment opportunities accessible today is real estate. It is, nevertheless, equally perilous, especially if one is inexperienced with the trends and subtleties of the real estate market.

Knowing the most common mistakes people make when buying a house in Valencia will help you avoid them and ensure a good return on your investment.

You can seek for a property on your own if you’re confident enough, using services like IMMOABROAD. When looking for a house, be sure the adverts you come across are legitimate. Remember the following guidelines:

  • The qualifications of any lawyers or real estate agents engaged in the transaction.
  • According to the land registry, planning clearance is required (Registro de la Propiedad).
  • There are no outstanding debts on the property.
  • The structure of the property is sound (either a surveyor or an architect can do this).

Valencia is not easy to compare with other regions if you search for Properties for sale in Spain. The province Alicante is part of the Valencia Communidad with its Costa Blanca.  For more information about properties for sale you can contact IMMO ABROAD, they operate 8 offices, over 30 years of experience in Real estate business in Spain and you can get all your questions answered with the native speaking staff.