The price of property in Valencia has risen by approximately 150% during the last six years according to some studies. Why such incredible growth?

Well as Spain’s 3rd biggest city you would expect it to have some clout. Valencia boasts some very fine beaches and so counts tourism as a major industry.

However, Valencia is also one of the latest venues to be included in the Grand Prix circuit and where there was once a fishing port there is now a new yacht marina (at a cost of around $500m) as a direct result of the America’s cup. Valencia’ next expansion is set to see the city offer a location for Formula One, when a new circuit becomes available next to the harbour in 2008.

Valencia has a very successful soccer team in domestic and European competitions, and has a very similar feel and flavor as Barcelona without the extreme volume of visitors. Valencia has a great array of restaurants, cinemas, hotels and a host of other facilities aimed at making life more leisurable. The new harbourside development is set to build upon this and with the coming Grand Prix and Formula One to really put Valencia on the international map.

Anybody looking for somewhere to invest in a Spanish property may do well to consider Valencia as investment into new development is set to increase.