BUYING PROPERTIES IN VALENCIA CITY

This is a small presentation of our Legal Assistance on the purchase/sale of properties placed in Valencia.  Valencia is a wonderful city. The most important service center in Valencia Region, and the fourth in importance and population in Spain.

Together with the economical and industrial activity, with one of the  most important Mediterranean Commercial Ports, Valencia is also a well-known Touristic area with one of the biggest Historic Protected City Centre, and other high-protected areas as the Cabanyal, and also with reputed and typic restaurants, services, shopping, the City of the Arts and Sciences, etc.

But, Valencia, also has high qulity beaches:

• Playa de La Malvarrosa
• Playa del Saler
• Playa del Levante
• Playa de Las Arenas
• Playa de la Patacona
• Playa del Pinedo
• Playa de la Devesa

In case you are interested to buy or to sell a property placed in Valencia, TLACORP will help you to take a final purchase or sale decision.

The area of Valencia City is covered by our office in  Valencia.

This area covers a wide range of properties, which passes from hitoric apartments and houses, rustic, to apartments, bungalow, urbanizations, Golf Courses, etc.

Let us detail the main legal aspects of each of these properties:

1.- Valencia urban areas:    These areas covers houses and apartments built in the centre of Valencia.

The type of constructions and properties there use to be main residences for local citizens  and residents,  second residences, or holiday homes with a high volume of tourist or expats.

A) THE PROTECTED CITY CENTRE OF VALENCIA:  There are different areas in Valencia  with strongly building protection.

1.-  “Ciutat Vella”: This is the area surrounded by the Avenues: Gran Via del Marqués de Túria, Ganr Vía de Ramón y Cajal, Paseo de la Pechina, and Paseo Ciudadela.

In this area, we find places as Palacio de la Reina, Colón, Plaza del Ayuntamiento, Barrio de El Carmen, Mercado de Colón, Mercado Central, Torrre de Serranos, Torres de Quart, Extramurs, San Francesc, etc.

This area is composed with one of the most elegant buildings, with modernist façades, and with composing one of the biggest protected urban areas of Europe.

Special mention must have “El Barrio del Carmen”: El Carmen is known as one of the most emblematic neighborhoods in the city of Valencia, and it is that walking its millennial streets evokes old age and history. It is part of the old town, which was built between two defensive walls: the Muslim and the Christian.

This charismatic area full of charm has undergone many modifications throughout its existence. Building around the Plaza del Carmen, it has given life to spaces as diverse as the suburb and Muslim refuge, vegetable garden, union settlement, proletarian area during industrialization, and in recent years, the population’s leisure space.

2.- Surrounding Centre of Valencia: This area is the surrounding area from the City Centre as: Ruzafa, Ensanche, Arrancapins, La Petxina, etc.

3.-“El Cabanyal” and “El Grau”: El Cabañal is a “district” or “quarter”  located in the area called “Pueblos Marítimos” district, in the coastal area of Valencia. Part of this neighborhood faces La Malvarrosa beach and Playa del Levante.

It is a neighborhood of sailors and fishermen in Valencia. It was born from the union of three nuclei: Cabanyal, Cañamelar and Punta de Francia, being integrated from the mid-nineteenth century to the present day in a single neighborhood.

This district presents a particular grid pattern, with narrow and elongated blocks, the result of the location of old orchards and ravines that were arranged here parallel to the sea. Their houses are characterized by having between two and three floors, and some with small gardens, both at the rear and at the front of the plot. The popular modernist architectural style, its appearance and the colorful facades make these homes more attractive.

Special legal considerations when buying in these areas of Valencia with  a high level of protection: 

1.- Legal limitations: Buildings  and properties may be considered as a “protected buildings” due of its historical interest. Consideration of a building as “protected” by historical reasons gives the property an additional value.
In instance, there are some limitations that are created to protect the building. The most important is that it is absolutely forbidden to owners to make reforms that may affect the façade and exterior aspect, and also, structural reforms on the whole building must be expressly approved by the Town Hall.

2.- Limitations for touristic rent : There are 3 ways to rent a property: Long term rent, Medium/Seasonal rent, and Touristic Rent. when buying properties in Valencia, it is very important to know that Touristic Rent is quite restricted, overall when buying in historical and protected buildings.

3.- Technical Inspections on Buildings with more than 50 years age : One of the most important point when buying in an historical or old building in Valencia, is to “check” if the building has obligatory  inspection for 50 years. Buildings of more than 50 years are subjected to pass inspections from the Town Hall to confirm the structural situation of the building, and, if the case, to ask the owners to make the necessary reforms to correct structural or essential building problems.

Please, click in the link below for further information on this topic:

https://www.spanishsolicitors.com/inspections-on-properties-older-than-50-years-spanish-construction/

B) OUT OF THE VALENCIA CITY CENTRE AREAS: Out of the Valencia city Centre, there are areas with traditional and modern buildings in the areas of Benimaclet, Torrefiel, Patraix, Algirós, Ciudad de las Artes y las Ciencias, etc.

C) BEACH APARTMENTS IN VALENCIA: PORT SA PLAYA (Alboraya), “EL PERELLÓ” AND “EL PERELLONET” (Sueca): These are areas located in front-beach, and with spectacular beaches and sea-views, composed by traditional and old-fashion and  modern buildings destinaded to tourism and holiday homes.

Together with the special checking recommended when buying at the City Centre of Valencia,  In a conveyance, with a decision to buy, and out of the normal legal searches to be done in these kind of properties, below there are important points to check:

– Legal and administrative study the history of the construction. To know how the property was built, and how it was developed. It is essential to discover if the property was extended, or if the terrace was covered, or if the porch is now a kitchen, or if the underneath is now a room . This will help to know if the previous owners have made all those works with he proper licenses, or, in instance, if there is any fine or penalty ending on these properties caused for a default of the proper permit.

Also, to know if there is any modification of the initial structure, will help to indentify if the deeds are properly updated with the current situation of the building.

In addition to this, if the property has a penalty for construction, the Town Hall can refuse to renew the Certificate of Habitation, and the new owners can have future problems to renew utility contracts.

– Water and electric contracts: As these are old properties, the supplying companies can ask the buyers to update the installation to change the contracts after completion. This may cause expenses like electrician, or plumber fees, to inspect the property, and others like re-wiring, which, if known before completion, could form part of the commercial agreement of price with the vendor.

– Plusvalia: If the property is old, and is owned by the same owners for a long time, then this tax will be high. This municipality tax must be paid by the vendors, but, knowing this from the beginning will help to take the necessary guaranties to be paid by the vendor.

– Community of owners: It will be very important to know, not only if the vendor is up-to-date in the payments of the community, but to big or important partial payments in the reform or maintenance of the community areas (terraces, façades, parkings, etc), which not always appear in the certifications made from the community of owners.

–  Is the building a “Social Protected Building” – VPO?:  In the process to buying a property in Valencia, it is essential to know if the building is considered as an “official subsidized housing”, VPO, which is characterized by being promoted by the Spanish public administration and whcih is offered at a price below that of equivalent buildings on the market.

In general, these types of houses are made available to the Government to facilitate access to housing for those most disadvantaged, especially those with lower incomes.

Depending on the type of the subsidy, there are certain limitations when selling the property, which goes from a total prohibition of selling, or with a limitation in the price of the sale.

2.- Valencia surrounding villages

Surrounding Valencia, we find other villages with a high level of attraction for foreign investors and expats, as Lliria, Montserrat, Olocau, Villamarxant, Godella, Godelleta, Alberic, Estivella, Náquera, Paterna, etc, which are subject of another specific study which you are kindly invited to vist  just clicking in our specialised section:

Buying properties in inland-rustic land Valencia

TLACORP is at your entire disposal, in our office in  Valencia  with special fees, for properties placed in this area.

Just contact us for quotation