The First Ensanche is an area of Valencia located between the Gran Vía Marqués del Turia and the Plaza del Ayuntamiento. The first Ensanche is also delimited by the old Turia riverbed and the popular Ruzafa street. It is an area characterised by the presence of liberal professional offices (lawyers, economists, notaries, etc.), Calle Colón as the main shopping street and the Colón Market, the centre of its social life.
The First Ensanche of Valencia is a very commercial area with many offices, but is it an attractive area to buy a property in Valencia?
There is no doubt about it. The First Ensanche has traditionally been the place of residence of the Valencian bourgeoisie, who settled in streets such as Sorní, Pizarro or Cirilo Amorós in modernist and rationalist buildings.
Today, the First Ensanche continues to exert a great magnetism and is one of the most sought-after areas in Valencia when it comes to buying a property.
What kind of properties can I buy in the First Ensanche?
In this area we find large stately buildings, so that it is possible to have large dwellings with a floor plan of more than 300 m2, despite the fact that they are very unique properties. In general, in the refurbishment of this type of stately homes, original features have been respected, such as the hydraulic paving and the ornate ceilings, which are often more than three metres high.
Of course, there are also smaller flats suitable for buyers who do not need so much space. As in other areas of the city, flats with terraces, as well as penthouses, are the most sought-after and sought-after properties by buyers.
Is the First Ensanche an expensive area compared to other areas of Valencia?
Obviously, as it is one of the most central and sought-after areas, the price of properties is higher than in other areas. This is also influenced by aspects such as the size of the property, its central location or the uniqueness of the building in which it is located.
In comparison with the centre of other large capitals such as Madrid and Barcelona, the purchase of an exclusive property in the First Ensanche is more affordable, as the average price per m2 is around 3,500 euros. In the centre of Barcelona (Pedralbes, Paseo de Gracia) the average price of a property can be around 7,800€/m2 while in Madrid (Recoletos, La Castellana, Almagro) the average price can be around 7,700€/m2.
(*) Data extracted from the Property Registrars’ database.
What is the lifestyle in Valencia’s First Ensanche?
Life in the Ensanche revolves around one of its most emblematic buildings: the Colón market. This modernist building, which once served as a food market, is now a favourite spot for locals and visitors alike, thanks to the large number of terraces and cafés that are lively from early in the morning until late at night. Among the most outstanding restaurants are historic ones such as the Basque Leixuri or Vuelve Carolina and Llisa Negra, with a menu designed by chef Quique Dacosta.
The First Ensanche is one of the favourite shopping areas for Valencians. In addition to the large fashion chains and department stores along Calle Colón, in streets such as Cirilo Amorós or Hernán Cortés we find boutique shops specialising in men’s fashion (López Criado, Blackcape, Hannover) or women’s fashion (Wolf, Chapeau) as well as a good number of shops specialising in design and interior design (Vicente Navarro, Roche Bobois).
A weekend stroll can begin along the Gran Vía Marqués del Turia, then cross the popular Calle Colón and reach the Plaza del Ayuntamiento. This square has been transformed into a large pedestrian area where you will find unique buildings such as the Valencia City Hall itself or the headquarters of the Post Office.
The Plaza del Ayuntamiento is also the starting point towards the historic centre of Valencia. Of course, we can continue our route along the old Turia riverbed, where we have several kilometres of green space suitable for family strolls or sports activities such as cycling or running.
Is the First Ensanche a safe area?
Like most areas of Valencia, the First Ensanche is a completely safe area to live in. During the day there is a great social life, thanks to the presence of a multitude of offices and shops. After closing, the First Ensanche is transformed, in the early evening, into a particularly quiet area, where it is possible to enjoy the terraces of its restaurants and even a first drink in trendy bars such as those located in the basement of the Mercat de Colón.
Is the First Ensanche an area suitable for families with children?
Throughout the week, it is common to find families walking with their children, due to the presence, in the area, of schools such as Dominicos, Maristas or Loreto. In addition, Gran Vía Marqués del Turia is a regular stop for buses from international schools outside Valencia. The journey time from First Ensanche to these international schools is usually no more than 30 minutes. On the other hand, this district is just a stone’s throw from the old Turia riverbed, a fantastic place to spend a morning with the family.
Is it a good option to buy a property and rent it out?
Valencia is a very active city in the rental market. More and more national and foreign professionals choose Valencia to develop their careers. In addition, Valencia is a city that receives thousands of students every year, as it has excellent universities, such as the Universitat Politècnica de València (UPV), and prestigious teaching centres, such as the European headquarters of Berklee College of Music. Acquiring a property for the rental market is an increasingly widespread option. At Rimontgó we will advise you, step by step, if you wish to explore this option.
What type of foreign clients buy property in Valencia?
There is no defined typology, although we can point to independent professionals who settle in Valencia with their families; those who work for foreign companies with headquarters in the city and, of course, retired people who buy a home in Valencia, aware of the quality of life that the city offers.
What guarantees can I count on when buying a property in Valencia?
When purchasing a property, at Rimontgó, we always recommend the advice of an accredited and experienced professional. The purchase of a property is a very important decision for any person and for this reason we insist on the need for advice and help. The housing market in Valencia, as in the rest of Spain, is regulated and has all the legal guarantees that protect the interests of both the buyer and the seller.
What are the expenses derived from the purchase of a property in Valencia?
The expenses for the buyer in Valencia are the same as in the rest of Spain: Notary fees, Land Registry, Value Added Tax (VAT), and Transfer Tax and Stamp Duty (Impuesto sobre Transmisiones Patrimoniales y Actos Jurídicos Documentados). Some of these expenses depend on the type of property. At Rimontgó we will accompany you in all the phases of the purchase process, and, previously, we will have offered you a detailed report on the costs derived from the purchase of a property.
How long does it take to buy a property in Valencia?
It can be as quick as two weeks and as long as three months. It all depends on the degree of due diligence required on each property and on the organisation and experience of the Real Estate Agent leading the transaction.
There is no set time frame. At Rimontgó we always analyse, in great detail, each operation and the circumstances of the market. The purchase of a property is an extremely important decision, which affects the buyer and his family, which is why haste is never a good advisor. It is essential to take the time that each transaction needs to fully enjoy the purchase of a home, which, after all, is also an investment.
Is it advisable to go to a real estate company when buying a property in Valencia?
More than convenient, we would say that it is highly advisable and, the more complicated a transaction may be, it may even be essential to go to a Chartered Real Estate Agent with years of experience. Although in Spain the property buying and selling market is a free market, at Rimontgó we always recommend that you go to professionals with experience and prestige. Expert advice in all phases of the purchase is the best tool to make an optimal decision.
Do I need any special documentation to buy a property?
At Rimontgó we advise our clients in all the administrative processes related to the purchase of a property, as well as during its ownership and subsequent transfer. We provide essential help in obtaining the NIE, opening a bank account and other necessary procedures to carry out the purchase or sale with all the legal guarantees.
