Valencia market 'benefiting from sporting prestige'

Article Date : 20 August 2007

The property market in Valencia, Spain, has been boosted by the number of visitors attracted by major sporting events held in the region.

The America's Cup has seen the redevelopment of the city's fishing port into a new £350 million marina, while the arrival of Formula One next year is also expected to bring in the crowds.

Recent developments have begun to change people's perceptions of Valencia, Graham Hunt, spokesperson for Valencia Property, argued, claiming that property prices have risen as a result.

"People are coming here because it's a nicer place and they can work and bring their children here," Mr Hunt remarked.

Most homebuyers are looking to purchase flats in the area, with young professionals choosing to live in the city, he added.

Earlier in the month, Mark Stucklin, spokesperson for Spanishpropertyinsight.com, urged buyers to look for "liquid" markets when investing in property overseas.

Valencia market 'benefiting from sporting prestige'

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