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.