Living in Valencia: neighbourhoods, cost of living and relocation

Valencia is Spain's third city and by far the most accessible of the three. It is flat and compact, lined by the sea and crossed by a former riverbed turned into a linear park several kilometres long, which shapes the whole of urban life.

Ciutat Vella, the historic centre, brings together the neighbourhoods of El Carmen, Seu-Xerea and Sant Francesc. The buildings are old and the charm is real; night-time noise in El Carmen keeps families away, while Sant Francesc, more upmarket, remains in high demand.

Valencia's Eixample — Ruzafa, Gran Vía, Pla del Remei — accounts for most of the foreign demand. Ruzafa, a former working-class neighbourhood that has become the liveliest in the city, has seen the sharpest price rise of the past decade.

El Pla del Real and Benimaclet offer two opposite faces: the former residential and close to the Turia gardens, the latter studenty and still affordable. Campanar and Benicalap, to the north-west, have recent buildings at more moderate prices.

Finally, the seafront — Cabanyal, Malvarrosa — and municipalities to the south such as Alboraya or Paterna complete the picture. The Cabanyal, long neglected, is undergoing major transformation; it is the area where the gap between its current state and its potential is greatest.

We do not publish a median rent for Valencia: Spain has an official rental price reference system, but we have not been able to verify its up-to-date values for Valencia directly. We do not reproduce estimates from property listing portals, which are not official sources.

The qualitative picture is clear: Valencia remains markedly cheaper than Madrid and Barcelona, but the gap has narrowed quickly since the city became a recognised remote-working destination. The rise in rents there has been among the steepest in Spain.

The Valencian Community has begun declaring stressed residential market areas as provided for by the Spanish housing law, a scheme whose implementation is the responsibility of the autonomous communities. Its application and scope must be checked as at the date of your plans.

The floods of autumn 2024 in the province also had a direct effect on the market: the destruction of homes in the municipalities south of the metropolitan area shifted part of the demand onto the city, and flood risk has become a purchasing criterion in its own right.

A newcomer must check a property's exposure to risk before committing, whether renting or buying, and make sure of the corresponding insurance cover. This is a new factor in decisions in Valencia, and it is set to last.

Valencia is the cheapest of Spain's three large cities across all items: housing, restaurants, services and transport. This is its main argument, and it still holds despite the recent rise.

We do not publish a typical monthly budget: we have not found any official Spanish series measuring a basket of spending comparable to that of an expatriate.

The climate keeps energy costs down: winter is mild and short, which makes heating marginal. Summer air conditioning is the corresponding expense, but overall it remains below Madrid levels.

Local salaries, on the other hand, are lower than in Madrid and Barcelona, and the skilled job market is narrower. The city is therefore particularly well suited to those who retain foreign income.

Personal taxation follows the Spanish scale, whose top marginal rate reaches 47%⁵, with a regional component specific to the Valencian Community.

Valencia's international community has grown considerably since the pandemic, driven by remote workers, European retirees and families looking for an alternative to Barcelona.

It nevertheless remains modest in size compared with that of the two large metropolises, and the range of services in French is limited. Spanish is essential for everyday and administrative life.

Valencian, a variety of Catalan, is a co-official language and is present in the administration and in education, though less systematically than in Catalonia. Check this point before enrolling a child in school.

The regime for workers relocated to Spain applies here as elsewhere in Spain: 6 years⁶ of taxation at a rate of 24%⁷ below the threshold of €600,000⁸, provided you meet its entry conditions.

Valencia is one of the European cities where cycling is most practical: it is flat, with a continuous cycle network and the Turia park, which crosses the city from west to east all the way to the sea.

The metro and tram serve the city and the airport. High-speed trains reach Madrid in under two hours; rail links to Barcelona, on the other hand, remain slow, which often comes as a surprise.

The Valencian public health system is accessible to registered residents; private provision is present and affordable compared with the large metropolises.

• The foreigner identification number is required for a lease, a bank account and social security registration.
• Registration on the municipal register gives access to the local health centre and to schools.
• Flood risk must be checked property by property, on the official maps, before any commitment.
• A presence of more than more than 183 days⁹ entails Spanish tax residency.