Tide Turns for Valencia...

...or so says the headline in today's Times of London for this article on the local holiday and retirement home market:

Tide turns for Valencia
Prices have soared in Spain’s third city as it prepares to host the world’s most prestigious yacht race, discovers Jane Padgham
Mention Spanish cities, and most people think Barcelona or Madrid. But Valencia, Spain’s third-largest city, is becoming increasingly popular with British visitors, who come to shop in its designer shops, stroll around the historic quarter and visit the architecturally stunning Ciudad de las Artes y las Ciencias complex (City of Arts and Sciences).

And with the old port and beach area being comprehensively spruced up ahead of next summer’s America’s Cup, the holiday-home market is booming.

Local and central government investment in the world’s most famous yachting event is estimated at £270m. But while the cup has been the catalyst, the cash injection will benefit the city long after the yachts have sailed away.

The impetus of the cup has hastened the expansion of the metro — which has four lines, serves the city centre well and is currently extending further out into the provinces — to the airport, which is getting a much-needed second runway. New hotels are springing up and a five-lane, one-way road system links the port to the city centre, replacing the previous traffic-clogged artery.

So what is Valencia like? It lacks the cosmopolitan, trendy feel of Barcelona, but is a charming city nonetheless. It is an appealing mix of old and new: baroque buildings juxtaposed with the futuristic work of Santiago Calatrava, the internationally acclaimed local architect who designed most of the Cuidad de las Artes y las Ciencias complex.

The historic heart of the city, El Carmen, is a compact nucleus with a maze of narrow streets and attractive plazas, easily explored on foot, while a 15-minute bus or tram journey will take you to the beach and restaurant areas of Las Arenas and La Malvarrosa, as well as the rejuvenated old port, heart of America’s Cup action.

And then there is the climate: local tourist authorities claim you can sprawl on the beach for nine months of the year. “We don’t do clouds” was a recent tourism slogan, promoting a city that has more than 300 cloudless days each year and more than 3km of broad sand.

While El Carmen might be the Brits’ first choice, it is relatively expensive, and Crespo says neighbouring Russafa is a better bet, an area he describes as “the Notting Hill of Valencia”.

Those wanting to buy nearer the beach and America’s Cup action will be disappointed: much of the area is ugly, run-down or resembles a building site.

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