Why Buy in Valencia?
Market Trends & Average Prices
Valencia's property market has seen strong price growth in recent years, yet remains dramatically cheaper than Madrid or Barcelona. Average prices in central areas: €2,500–3,500/m² (vs. €5,000–7,000 in Barcelona). Quality properties with character — high ceilings, original tiles, renovation potential — are still available at prices that would be unthinkable in most Western European capitals.
- New build apartments in Eixample: €3,000–4,000/m²
- Renovated apartments in Ruzafa: €2,800–3,500/m²
- Properties needing renovation in Cabanyal: €1,500–2,500/m²
- Villas in the outskirts (Alfinach, Godella): €1,500–2,500/m²
Step-by-Step Buying Process
Get Your NIE Number
The NIE is mandatory before you can sign any property transaction. Apply from your home consulate before you arrive. See our NIE guide.
Open a Spanish Bank Account
Required to transfer funds for the purchase. CaixaBank, BBVA, and Sabadell all have English-speaking staff and non-resident account options.
Find a Property
Search on Idealista.com and Fotocasa.es — Spain's two main property portals. Consider working with a buyer's agent who represents your interests exclusively (3–5% fee).
Check the Nota Simple
Order a Nota Simple Informativa from the Land Registry (Registro de la Propiedad). This document confirms ownership, any outstanding mortgages, and legal encumbrances. Cost: ~€9.
Sign the Arras Contract
A reservation deposit (typically 10% of the purchase price). If you pull out, you lose the deposit. If the seller pulls out, they must return double the amount.
Notary, Escritura & Land Registry
The final purchase is completed at a Notary's office where both parties sign the Escritura de Compraventa. The notary then sends the deed to the Land Registry. Allow 4–8 weeks for registration.
Taxes & Costs When Buying
ITP vs. IVA
Second-hand properties: ITP (Impuesto de Transmisiones Patrimoniales) at 10% in the Valencia region. New-build properties from a developer: IVA (VAT) at 10% plus Stamp Duty (AJD) at 1.5%.
Additional Buying Costs
- Notary fees: €600–1,200
- Land Registry inscription: €400–900
- Property lawyer (recommended): €1,500–3,000
- Mortgage arrangement fee (if applicable): 0.5–1% of loan
Total purchase costs beyond the property price: approximately 10–12%.
IBI & Annual Property Taxes
IBI (annual council tax): 0.4–1.1% of the cadastral value (usually much lower than market value). Typically €200–800/year for a central apartment. If you're non-resident, you also pay IRNR (non-resident income tax) on deemed rental income: ~1–2% of cadastral value annually.
Getting a Mortgage in Spain as a Foreigner
Spanish banks typically lend up to 70% of purchase price to non-residents (vs. 80% for residents). You'll need: proof of income, 3 years of tax returns, NIE, and a clean credit history. Fixed rates in 2026 are approximately 3–4% for 20–25 year terms.
Best Areas to Buy in Valencia
For capital appreciation: Ruzafa, Eixample, El Carmen. For rental yield: Cabanyal, Benimaclet, Patraix. For lifestyle + value: Cabanyal remains the strongest buy in the city. See our neighborhoods guide for full analysis.