Apartments and flats for sale in Valencia

Apartment in Valencia for a residency permit

By making significant investments in apartments and flats in Valencia, foreigners can apply for a Spanish residence permit. On the CBI website, you’ll find current offers from reputable developers and real estate agencies. Browsing through these options can provide insights into pricing trends and help you decide whether to invest in a premium residence or several apartments for rental purposes.

The minimum apartment price in Valencia to qualify for a residence permit is EUR 500,000, while property prices start from EUR 70,000.

The province and its namesake capital have recently emerged as a prime destination for expats. Key advantages include:

• A relaxed atmosphere, perfect for unwinding from big-city life;
• A variety of international and national schools, colleges and universities that offer well-regarded diplomas;
• Unique architecture and numerous attractions;
• Diverse property choices: you can secure a residence permit in Spain through investments in studios, penthouses or apartments with 1-5 bedrooms. High-yield properties are available in both the primary and secondary markets, but the total investment must meet or exceed EUR 500,000;
• A Russian-speaking community to assist with adaptation;
• Excellent transport connections for regional travel, international flights and exploring Europe;
• A wide range of cultural events and leisure activities.

The area attracts programmers, young professionals, families and entrepreneurs. The cost of flats in Valencia can reach up to EUR 2.1 million, with prices rising by 1% to 3% annually or 5.22% without taxes. For long-term residence, the neighbourhoods of Extramurs, Patacona, Algirós, Ciutat Vella, Pobles Marítims, L'Eixample, Campanar, Quatre Carreres and El Pla del Real are ideal. Proximity to the city centre increases the prices of apartments for sale in Valencia; however, this also ensures access to key urban infrastructure and solid rental income potential due to the prime location.

During the transaction, it’s essential to legally verify the property in Spain and the seller, sign a preliminary agreement (contract of intent) and pay a deposit. The principal amount is then transferred to the seller's account after signing the main contract. Buyers should be prepared for additional costs, including taxes and state duties.

Residence permit in Spain by buying an apartment in Valencia

Purchasing a flat or a villa in Spain can lead to temporary residency through the Golden Visa programme and potentially to citizenship. The residence permit process may take up to six months, which includes the time spent on property selection and completing the formalities of the sale and title registration. Without documentation proving an investment of over EUR 500,000 in an apartment in Valencia, Spain, you cannot apply for a residence permit. If multiple properties are purchased, they must collectively meet the minimum threshold, excluding taxes and fees.

Eligibility criteria for residence permit through real estate investment in 2024:

• Legal adult age;
• No criminal record for the past five years;
• Compliance with immigration laws;
• Health insurance and proof of an annual income of at least EUR 28,800. Additionally, EUR 7,200 must be available for each dependent relative included in the residence permit application;
• Spanish taxpayer identification code;
• A valid international passport for identification.

A residence permit allows for visa-free travel within the EU, employment with Spanish companies and business registration. The initial residency card is valid for three years and can be renewed indefinitely, provided you retain the property and comply with local laws. To apply for permanent residency and subsequently citizenship, continuous residence in Spain for five years is required.

Investment apartment in Valencia

There are many compelling reasons for foreign investors to buy a flat in Valencia. In addition to enjoying a warm climate and saving on hotel expenses, a property can generate income through resale or rental. The influx of tourists boosts property values, further supported by new developments. Investments in modern residential complexes are particularly profitable, especially in prime areas like Beniferri, the City of Arts and Sciences, Els Orriols, Torrefiel and Sant Llorenç. For coastal properties, top options can be found in Poblados Marítimos, Patacona, Cuatro Carreres and Benidorm.

The ROI in Valencia typically ranges from 14 to 17.5 years; however, this period can be halved with a promising property in an up-and-coming resort. Routine expenses include property taxes, which range from 0.4% to 1.1%, insurance costs (up to EUR 500) and utility costs which are usually covered by tenants if the property is rented out. Partnering with a property management company can simplify the rental process and ensure a stable income.