Emblematic Luxury Developments on the Go in Valencia

Added: (March 2010)

While construction activity in general in Valencia has quietened considerably, it is heartening to see two luxury developments on the go in emblematic areas of the city.

The first development which is being undertaken by local company Lubasa is situated in a building that formerly housed a portion of the city’s courts (Edificio de Juzgados). The area is at the top of Valencia’s principal shopping street on Calle Colon and is located on Porta del Mar Square among various other judicial buildings.The development is expected to be finished by the second half of 2011. It will comprise of 28 luxury apartments varying in size from 180-300 sqms and in price from €1.6 to €3 million.

Apartments will range in size from 3-5 bedrooms with each one having the possibility of having a bedroom kitted out for staff if necessary. The building will also have 71 garage spaces as well as 33 large storage rooms. In addition there will be commercial properties on the first two floors of the development. The offices in the development will vary in size from 120-280sqms and will be rented out.

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It goes without saying that the development will have a top class finish with the properties being soundproofed thereby allowing stress free living in the heart of the city. Security is high on the list of requirements among the developers so the whole building will be monitored by c.c.t.v. cameras. Each property will also have its own state of the art domotic system.

The second development is literally a stone’s throw away from the first one, being at the end of the very same street (Navarro Reverter Ave) with spectacular views of the “City of the Sciences” and the Alameda area. A former government health centre will be demolished to make way for a refreshing vanguardian structure designed by two local architects, namely Srs. Latorre & Martin. The government held an architectural competition as a means of getting the best design for the building in conjunction with the local college of architects.

There will be 67 luxury apartments in all as well as 48 garage spaces and some commercial units. Apartment sizes will range from 112 sqms to 200 sqms with prices starting at €1.3 million.

With starting prices oscillating between €9 and €12 K per sqm, the building promotors are nothing if not confident all the more so bearing in mind the present economic climate, especially when at present the average price per sqm in the city is at €2.5 K . Then again, the buyers of such properties will hardly be raising mortgages on them.

Therefore whether it is Valencia City Property, Valencia City Property Investment or Valencia F1 Property you are looking for : Valencia Property Hound should be your first port of call.

Article by Dermot Quinn, Valencia Property Hound Ltd