The city of Valencia made headlines around the world in the fall of 2024 due to the historic floods that severely affected its periphery, but Spain's third-largest city is standing tall and has many reasons to look to the future with serenity.
For some years now, the city has established itself as a prime destination for tourists and expatriates, but also as a tech city that attracts a growing number of entrepreneurs, digital nomads and international investors.
Let's introduce the city that is now nicknamed the Silicon Valley of the Mediterranean.
Valencia, in brief
Valencia is the third largest city in the country, located on the east coast of Spain, facing the sea, between Barcelona and Alicante. It enjoys a very pleasant Mediterranean climate and an exceptional quality of life index, approaching 200 points (source: Numbeo).
The city stands out, among other things, for:
- A high level of purchasing power
- An unbeatable climate index
- Good quality healthcare and a strong sense of security
- Housing prices that are still accessible for both renting and buying (although they are rising sharply). We will come back to this.
The capital of the Valencian Community has 830,000 inhabitants, and more and more foreigners are settling there. Just over 16% of its population is of foreign origin.
Its track record is impressive:
- It was voted the healthiest city in the world in 2022
- It is considered one of the leading destinations for expats
- A green city, Valencia promotes relaxed tourism, has 5 million square meters of gardens, 20 km of natural beaches, and 160 kilometers of cycle paths. It has been designated European Green Capital for 2024.
Are you planning to move there? Good idea. Make an appointment with our team of experts, they will be able to advise you on the best neighborhoods.
What are Valencia's advantages for international investors?
Valencia offers a large number of competitive advantages for international investors.
Real estate in Valencia: a strong point
- Since the end of the Covid parenthesis, Valencia has experienced a boom in its real estate market. In 2024, in the municipality, prices are at 2,800€/m² on average. 1600€/m² at the scale of the Community (source: Idealista). Despite an increase of more than 22% over the year 2024, they remain very accessible for investors, especially international ones.
- Good returns on investment (8% on average, source: Fotocasa) and the potential for long-term appreciation attract buyers. They now buy more than 30% of the properties available in the Community.
- The demand for housing is exploding, and owners are ensuring a high occupancy rate for their property, accessible to the greatest number: expect €1230 for a 100m² on average.
Do you have questions about the real estate sector in Valencia? Contact the experts at Terreta Spain.
Interview with Paul Tremblot, from Amazon Web Services (AWS)
Valencia: an affordable cost of living
- Compared to other major European cities, Valencia offers a much more affordable cost of living. The cost of living index does not exceed 42 points in the city, compared to between 60 and 80 in Berlin, Paris, London, or even Nice (source: Numbeo). Housing, entertainment, and transportation cost less than elsewhere. This allows investors, of all profiles, expatriates, and digital nomads passing through to benefit from high purchasing power and a very comfortable daily life.
- Salaries and overheads are generally lower than elsewhere, which translates into potentially higher margins for businesses.
Qualified talents
The city is home to prestigious universities and attracts talent from all over the world. Each year, Valencia trains qualified graduates in engineering, computer science, and scientific fields, offering investors access to a quality workforce, key to the growth and profitability of businesses.
Modern infrastructures
- The City of Arts and Sciences, inaugurated in 1998, symbolizes Valencia's commitment to innovation and modernity. This futuristic architectural complex, designed by Santiago Calatrava, houses a giant aquarium, a planetarium, and other cultural attractions. These facilities are not only tourist attractions but also research and education centers, contributing to the city's innovation ecosystem. The City of Arts and Sciences illustrates the city's avant-garde vision, which has only strengthened since.
- The city's transport infrastructure is also well-developed. Valencia International Airport (which recorded over one million passengers in October 2024 for the first time in its history) and the high-speed rail network (AVE) make it easy to travel within Spain and abroad, all in a less congested environment than Barcelona or Madrid.
- Connectivity is an essential criterion for digital professionals, and Valencia does not disappoint in this regard.
- The city has a fast and reliable Internet network, essential for working efficiently online, and excellent mobile coverage.
- There are 49,000 free Wi-Fi hotspots.
- The numerous coworking spaces (around fifty), such as Wayco, Vortex Coworking, and Garage Coworking Valencia, are full every day. They offer not only equipped offices and professional services but also a stimulating environment where digital workers can exchange ideas and collaborate.
A rapidly expanding technological ecosystem
Valencia is currently experiencing a technological boom, driven by a dynamic and innovative ecosystem that attracts startups, investors, and talent from around the world.
Key players in innovation
Incubators and accelerators like Lanzadera and La Marina de Empresas actively support local startups through mentoring programs and funding opportunities.
- To submit your projects to the Lanzadera incubator, visit the official website via this link.
In addition, major tech companies, such as Amadeus, have chosen Valencia to establish their strategic operations, reinforcing its role as an innovation hub.
Startup dynamism
According to the Startup Observatory of the Valencian Community:
- 83% of the Community's startups are located in Valencia itself.
- Their number increased by 15% in 2024, and they created 20,022 jobs.
- Artificial intelligence is integrated into 21.07% of these companies, which demonstrates the city's strong focus on cutting-edge innovation.
All these companies are doing well:
- 14% of them invoiced more than 1 million euros in 2023 (compared to 13% in 2022).
- More than 50% operate internationally.
Legend: Where are the startups of the Valencian Community located?
Source: Startup Observatory of the Valencian Community
Technological fields in full growth
Valencia stands out in several key sectors:
- Health Tech: digital health solutions, driven by leading hospital centers.
- CleanTech: green technologies and renewable energies, supported by the city's ecological vision.
- Fintech: innovations in financial services.
- AgriTech: modernization of traditional agriculture through innovative technological solutions.
- LegalTech: digital tools dedicated to the legal sector.
Focus on Startup Valencia, the catalyst of Valencia's technological ecosystem
Startup Valencia is a private organization that was founded in 2017 with the aim of making Valencia a Tech capital, and it is well on its way to winning its bet. It promotes entrepreneurship, connects scientific and academic talents, and creates an optimal framework for developing digital projects.
The association has more than 350 members: startups, investors, Tech companies, etc. Thanks to its actions, it drives the digital transformation of the Valencian economy and sends a positive signal to talents and investors around the world. By relying on Startup Valencia, the region is becoming a must-see.
Its greatest success: the Valencia Digital Summit.
A must-attend Tech event: the VDS
The 2024 edition of the Valencia Digital Summit, organized by Startup Valencia for 7 years now within the City of Arts and Sciences, attracted more than 12,000 participants from 110 different countries, including 700 investors, the co-founders of YouTube, and the creator of Facebook Live.
Having become an international reference, the VDS promotes exchanges between startups, investors, and Tech players and helps to consolidate Valencia's position as a leading European technology hub.
For the region, the economic benefits of the VDS are in the tens of millions of euros (more than 12 million for the previous edition).
Valencia: an environment conducive to startups and digital nomads
The explosion of the digital nomad phenomenon in Spain and in Valencia
Since the pandemic, the number of digital nomads has exploded to over 35 million worldwide. Spain is emerging as a leading destination and among the most popular cities, Valencia stands out as a new and attractive epicenter for itinerant workers.
The municipality estimates that around 2,500 digital nomads reside in the city. A recent ranking places it in third position in the ranking of the best Spanish cities for digital nomads, just after Madrid.
Visa for digital nomads
It must be said that the Spanish government has put in place initiatives to facilitate the installation of entrepreneurs and digital nomads. Since 2023, a special visa facilitates the installation of remote workers. It allows foreign professionals to live and work legally for companies located outside the country for an extended period. The Startups Law of 2023 allows non-Europeans to obtain a specific work visa, subject to meeting certain conditions:
- Minimum income of €2,140/month
- Take out private health insurance
- Provide proof that they have been working remotely for more than 3 months.
Valencia, Tech capital: the challenges
While Valencia has many advantages, it faces several challenges:
- Need for continuous investment: to sustain and accelerate its growth, the city must continue to attract significant investment, both public and private.
- Internationalization: Valencia still needs to strengthen its international appeal to attract more foreign talent and businesses.
These challenges represent opportunities for visionary investors and entrepreneurs who want to participate in the growth of this emerging ecosystem. Are you in?
Valencia's neighborhoods popular with expats and digital professionals
To help you envision your move, our experts have put together a mini-guide to the essential neighborhoods for expats, investors and professionals.
Ruzafa: the trendy and multicultural neighborhood
Nicknamed the "Soho of Valencia", Ruzafa is one of the city's most dynamic and popular districts. Located in the immediate vicinity of the city center, it is attractive for its cosmopolitan atmosphere and cultural effervescence. It features trendy cafés and modern coworking spaces, art galleries, independent designer boutiques and markets such as the Mercado de Ruzafa, the heart of local life. Its cultural mix, with expatriates from all over the world, makes it an ideal place to live for digital nomads and young entrepreneurs.
El Carmen: history, culture and nightlife
El Carmen is the historic district of Valencia, located in the heart of the old town. Its narrow pedestrian streets, old buildings and picturesque squares are a testimony to the city's history. The district attracts with its bohemian atmosphere, authentic tapas bars, street art (often with a political vocation) and small craft stores and its lively nightlife. Cultural spaces such as the IVAM (Valencia Institute of Modern Art) or the Centre del Carme are very popular with locals and coffee shops are flourishing. More and more foreigners are settling here to enjoy its unique character and its gentle way of life.
El Cabanyal: Valencia's maritime soul
El Cabanyal is the old fishermen's quarter located on the Mediterranean coast. Rehabilitated in recent years, it has become one of the most attractive areas for expatriates and digital workers who want to combine work and jogging on the beach. The small, colorful houses and authentic charm of El Cabanyal contrast with the modernity of the rest of the city. The district is undergoing a cultural renaissance.
Benimaclet: calm, affordable and creative
Benimaclet, located slightly on the periphery of the center, is a quieter, perhaps even more authentic neighborhood. Rents are significantly lower than in the central districts, the atmosphere is relaxed with alternative bars, cultural events and a lively community life. Close to the universities, Benimaclet is a melting pot where students, local families and young professionals mix.
To go further, contact the experts at Terreta Spain.
Administrative procedures for expatriating and working in Valencia
EU nationals
- Obtaining a NIE (Foreigner Identification Number). To find out more, read our complete article.
- Register with the central register of foreigners.
- Register with the municipality to obtain the census certificate (empadronamiento). Here is the link to complete this process in the city of Valencia.
Non-EU nationals
- Obtain a NIE (Foreigner Identification Number).
- Apply for a TIE (Foreigner Identity Card).
- Obtain a special visa for digital nomads (introduced in 2023).
Conclusion
Valencia is the new Silicon Valley of the Mediterranean. It is emerging as a major technological hub in Southern Europe, thanks to a dynamic ecosystem, modern infrastructure, and a strategic vision supported by public and private stakeholders. Its growth potential attracts international talent and investors, placing the city at the heart of European innovation.
FAQ: Valencia, the new Spanish Tech capital
Why has Valencia become a prime destination for digital nomads?
Valencia attracts digital nomads thanks to its affordable cost of living, high-performance Internet connectivity, and modern infrastructure such as coworking spaces. The city also offers an exceptional quality of life with a Mediterranean climate, urban parks like the Turia, and a less stressful atmosphere than in large metropolises like Madrid or Barcelona.
Which technology sectors are booming in Valencia?
Valencia stands out in several technological fields:
- Fintech: innovations in financial services.
- Health Tech: technologies for digital health thanks to state-of-the-art hospital centers.
- AgriTech: technological solutions to modernize traditional agriculture.
- CleanTech: innovations in renewable energies and green technologies, supported by the city's ecological vision.
How to obtain a visa to work remotely in Valencia?
For non-European citizens, Spain has offered a digital nomad visa since 2023, thanks to the Startups Law. The criteria include:
- A minimum income of €2,140 per month.
- Private health insurance.
- Proof of remote work with a foreign company for at least 3 months.
Citizens of the European Union do not need a visa but must obtain a NIE to reside legally in Spain.
Which districts are recommended for expatriates and digital nomads in Valencia?
- Ruzafa: a trendy and cosmopolitan district, ideal for digital nomads looking for a lively life. Modern cafes, coworking spaces and a creative atmosphere make it a must-see for young professionals.
- El Carmen: located in the heart of the old town, El Carmen is attractive for its historic charm and lively nightlife. Perfect for those who like to combine culture, history and social gatherings.
- Cabanyal: a former fishing district, Cabanyal combines proximity to the beaches and a bohemian spirit. With its colorful houses and local markets, it's the ideal place to combine work and relaxation by the sea.
- Benimaclet: a quieter and more affordable district, it attracts a young, student and creative population. Its international community and relaxed atmosphere make it an ideal alternative for tighter budgets.
What events and initiatives are strengthening Valencia's technological ecosystem?
Valencia organizes major events that position the city as an international technology hub:
- The Valencia Digital Summit (VDS) has gathered over 10,000 participants each year for the past 7 years, fostering exchanges between startups, investors, and talent.
- Startup Valencia: a key organization that supports innovation with incubation and mentoring programs.
- Valencia Startup Weekend: meetings between entrepreneurs and professionals to explore new opportunities and projects.
What Tech companies are based in Valence?
València is increasingly attracting tech giants and establishing itself as a new technology hub in Southern Europe.
- Microsoft is setting up a global hub dedicated to sport, health and technological research, with a strong emphasis on applied innovation.
- IBM has opened an international digital sales and R&D center, specializing in artificial intelligence, hybrid cloud and cybersecurity.
- Amazon is present through a major logistics center in Onda (Castellón province), but does not yet have any technology or R&D facilities in the town.
- On the other hand, Google, Meta and Apple have yet to set up operations in València.
But it's above all the startups and scaleups that drive the local tech ecosystem. València is home to over 1,200 startups in the digital health, robotics, AI, fintech and smart city sectors.
Artificial intelligence and robotics include :
- Quibim - leader in AI-based medical imaging, already present in several countries.
- Bumerania Robotics - develops intelligent service robots for the healthcare, education and retail sectors.
- AWSensors - spin-off from the Polytechnic University, specializing in precision sensors for biotechnology and research.
- Zeleros Hyperloop - develops a very high-speed transport system based on Hyperloop technology.
The ecosystem is supported by structures such as Startup Valencia, public and private incubators, as well as international events (Webit, Valencia Digital Summit VDS).
With its moderate costs, pool of locally-trained talent and high quality of life, València is becoming a credible alternative to Barcelona or Madrid for investors, tech talent and companies looking to innovate.
Sources: Numbeo, Idealista, Boletin Oficial del Estado, Fotocasa life, Ministerio de Asuntos exteriores, Wikipedia
