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Spain Property Investment News
Beautification boosts Valencia
The market for investment property in Spain's third largest city, Valencia, is thriving, thanks to new developments and promotion projects, according to a real estate agency.
Graham Hunt, a spokesman for Valencia Property, recently told the Telegraph that prices in the city "have risen by 150 per cent in the past six years and they are still slowly rising, unlike Barcelona or Madrid."
Hosting a Formula One race on a harbourside circuit next year should result in increased visitor number, while the construction of a £350 million super yacht marina has transformed the city's port.
Mr Hunt added that there was "a very changed view of Valencia [among investors] and it's because of the promotion they've done of the city itself".
"The promotion has really been happening since the Americas Cup was announced in 2003 to the start of 2004," he said.
"Since that point the beautification of the city and the rehabilitation of certain areas of the city that were a bit blighted by previous governments disappeared and the area around the port has been made so much better that we're getting people who want to be in the port and commute into Valencia."
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