VALENCIA is the in thing in Spain these days. A lot of British tourists are continuing to flock here as well as buy properties here. This is because Spain has a relaxed real estate policy in terms of individual foreign ownership. This, on top of very minimal taxes. The Spaniards only collect two kinds of taxes from real estates – the income tax which is intended for property owners who lease their properties to other foreign tourists.

That’s a common practice for British expatriates here by the way. They buy properties and lease them to their countrymen who are also vacationing here. Because it is located alongside the Mediterranean, a lot of British tourists come here to frolic in the sun. These are the people who perceive that the tropics are too hot for them as compared to only 18 degrees Celsius of temperature here. Besides, Valencia is the site of two huge sports events for the next two years – the Valencia Grand Prix of the Formula One circuit in August 2008 and the America’s Cup in 2009. The Valencia race track is actually composed of converted thoroughfares and so properties along the route of the race will really sell like hotcakes. The second tax that Valencia property owners will be paying is the garbage collection tax which goes directly to the government here.

Another reason why British tourists keep coming here is because of the construction of a new international airport which will increase the number of direct flights from Britain. It being the third largest city in Spain, Valencia will also witness the construction of a new yacht marina. This is one of the sidelights of the premier sailing race in the world, America’s Cup, which will visit Valencia’s Mediterranean shores by 2009. Still another reason why British tourists have clung to Valencia is the two-pronged unrelenting campaign of the city government to restore old buildings – as old as those in the medieval times as well as to promote exhibitions stored in current museums. Along with most of Spain, Valencia has a diverse collection of architectural styles, an example of which is that its Catholic churches have both Gothic and Moorish influences. Other restored buildings in Valencia are the old palaces in Rufaza. Some of them are even being converted to flats and these are either up for sale or up for rent. Of course, the foundations and even the interiors of these structures have not been touched but only added modern amenities.

Thus, one can sleep like a medieval knight of old in these palaces but still enjoy contemporary luxuries such as a Jacuzzi, cable TV with plasma monitor and DVD player with a subwoofer sound system which when detached from the TV can be hooked to a music station playing both traditional Spanish and techno-house music. All the rooms have high-speed Internet connection as well. A typical palace converted to apartment in Rufaza can cost only 160,000 pounds. For British tourists, go ahead and grab this opportunity. Valencia is one of the most beautiful cities you can see.

What made Valencia favorites of many travelers and investors alike is its great accomplishment being a city of boom and blossom in Spain. The stunning architecture of the city made among the best picturesque of the country.

Here are top reasons why buying properties in Valencia is already a day to day activity of many real estate investors and agents.

• Fastest booming city in Spain – Valencia is among the fastest booming city of Spain with its sea port haven for many international vessels from neighboring countries as well as other countries of the United States of America and Europe.
• World renowned events comes to Valencia – With some of the world events are now coming to Valencia the city is now sites of many travelers of the world. The prestigious Fromula 1 Grand Prix Urban Circuit will be held in Valencia for the next seven years starting 2008, as well as the world famous Americas Cup. This makes the city now a hot spot for millions of sports enthusiasts of the globe.
• Sophisticated lifestyle in Valencia – One factor that also contributes to the fascination of many travelers and vacationers in Valencia is its highly sophisticated lifestyle. Current offerings for Valencia’s properties include Torrent, Monserrat, Catadau, Montroy and Turis. These places boast of tranquility, peace and order and designed with the countries tradition.
• Reasonable prices – The real estates available in Valencia is very reasonable that also makes it more convincing for investors and frequent travelers to the city of grandeur. Many investors who purchase properties in Valencia have always say praises after their successful transactions. They said it is not very difficult to buy properties in Valencia because of the professional real estate agents who deal openly and professionally with foreign investors.
• Government support – The local government of Valencia City has maintained its all out support for the real estate industry to grow and increase investments. Although there are local ordinances regarding entries of foreign investors as far as buying properties in Valencia but it is not as difficult as in many countries of the world. This idea helps greatly in shaping up the rising splendor of Valencia to the watchful eyes of the world.
• Attractions in Valencia – The many attractions of the city, be it man-made or natural wonders, contributes a lot to the continuing boom and blossoms of the city, spilling over its wonders to the world. As a result the sale of properties in the city is becoming a great industry among real estate companies.
• Fine beaches contributes too – The fine beaches in Valencia is also “a hot destination” for millions of travelers and vacationers. This also resulted to the purchase of a lot of villas and apartments by these frequent travelers of the city. Since they were fascinated with the beaches they have also decided to purchase villas and apartments for their use – allowing them to escape from the hassles of always looking for hotels everytime they travel to Valencia.

VALENCIA is a Mediterranean coastline community in Spain. It is a very old community in that country, considering that it has already been there even before Christ i.e. it was founded in 137 BC. It has a total area of 134 square kilometers and a population of 807,000 people making it having a population density of 5,916 inhabitants per square kilometer. Its current mayor is Rita Barbera Nolla of the People’s Party of Spain.

Without doubt, Valencia is certainly one of the hottest real estate places in Europe today with the upcoming Valencia Grand Prix in tow. The prestigious leg of the F1 tournament won’t be around for the next year or so but already, British expatriates and Formula One fans alike have already expressed interest in securing anything they can find at the seaside city – villas, apartments or condominiums. Those who are a little affluent can certainly afford to rent villas and will definitely have a front seat when Spanish pride Fernando Alonso does his stunts around the Valencia chicane.

Another reason why the hype around the 2008 Valencia Grand Prix is so overwhelming is because it is a street-based race instead of being held on a dedicated race track. Thus, Valencia residents will definitely be thrilled that the race will literally come to them instead of them going to the race. Therefore, hotels and motels located right in front of the racetrack map will definitely benefit from this undertaking. As early as right now, these hotels are almost booked already when it comes to those engaging dates as part of the Spanish leg of F1 2008. Two of these are considered first-rate hotels – Westin and Astoria. Now, let’s take a look at Westin Valencia.

Westin Valencia has got two impressive fine dining restaurants serving only Spanish and international delicacies. It will surely be a very lively day on August 23 and 24, 2008 in this hotel for guests will be hustling from the hotel to the racetrack and back to the hotel again on that day. Westin Hotel is located in Amadeo de Saboya, 16, one of the routes of the Valencia Grand Prix which of course shares the 2008 Spanish Grand Prix with Catalonia. The party doesn’t stop next year though. Formula One organizers’ contract with the city government of Valencia will last until 2011.

This means that the Valencia Grand Prix is here to stay for the next seven years. Expect a very booming tourist-induced economy in Valencia for that span of time. This also means that the real estate business in the city will increase and increase for that same period. For Valencia is not only host of the Formula One Grand Prix, it is also host to the 2009 America’s Cup – the same one which entered the city’s coastline earlier this year. The America’s Cup organizers were so impressive with Valencia’s welcome of the premier sailing race last April that they have announced to come back by 2009. With these attestations, expect Valencia to be the place to be for the years to come.