The city of Valencia made headlines around the world in the autumn of 2024 due to the historic floods that heavily affected its outskirts, but Spain's third-largest city is standing tall and has plenty of reasons to look to the future with equanimity.

For some years now, thecity has established itself as a preferred destination for tourists and expatriates, but also as a tech city attracting a growing number of entrepreneurs, digital nomads and international investors.

We make the introductions with the town now dubbed the Silicon Valley of the Mediterranean.

Valencia, in brief

Valencia is the country's third-largest city, located on Spain's east coast between Barcelona and Alicante. It enjoys a pleasant Mediterranean climate and an exceptional quality of life index, approaching 200 points (source: Numbeo).

The city's distinguishing features include :

• A high level of purchasing power;
• An indisputable climatic index;
• Good quality health care and a strong sense of security;
• Housing prices still affordable for renting and buying (although rising sharply). More on this later.

The capital of the Valencian Community has a population of 830,000, and more and more foreigners are settling here. Just over 16% of its population is of foreign origin.

His record of achievements is enough to make you blush:

• It was voted the world's healthiest city in 2022;
• It is considered one of the top destinations for expatriates.
• A green city, Valencia promotes peaceful tourism and boasts 5 million square meters of gardens, 20 km of natural beaches and 160 km of bicycle paths. It has been designated European Green Capital for 2024.

Planning to move there? Good idea. Make an appointment with our team of experts, who will be able to tell you which neighborhoods to choose.

What advantages does Valencia have to offer international investors? 

Valencia offers a number of competitive advantages for international investors.

Real estate in Valence, a strong point

• Since the end of the Covid parenthesis, Valence has experienced a real estate boom. In 2024, prices in the municipality averaged €2,800/m². 1,600/m² for the Community as a whole (source: Idealista). Despite an increase of over 22% in 2024, they remain very affordable for investors, particularly international ones.
• Good returns(8% on average, source: Fotocasa) and the potential for long-term value enhancement are attracting buyers. Today, they account for over 30% of all available properties in the Community.
• Demand for housing is exploding, and owners are ensuring a high occupancy rate for their property, accessible to as many people as possible: count €1,230 for an average 100m².

Do you have any questions about real estate in Valencia? Contact the experts at Terreta Spain.

Valencia, an affordable cost of living

• Compared to other major European cities, Valencia offers a much more affordable cost of living. The city's cost of living index doesn't exceed 42 points, compared with between 60 and 80 in Berlin, Paris, London or even Nice (source: Numbeo). Housing, entertainment and transport costs are lower than elsewhere. As a result, investors of all profiles, expatriates and digital nomads benefit from high purchasing power and comfortable living.
• Salaries and overheads are generally lower than elsewhere, which translates into potentially higher margins for companies.

Qualified talent

The city is home to prestigious universities and attracts talent from all over the world. Every year, Valencia produces qualified graduates in engineering, IT and scientific fields, offering investors access to a high-quality workforce that is key to business growth and profitability.

Modern infrastructure

• The Cité des Arts et des Sciencesinaugurated 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, they are also centers of research and education, contributing to the city's innovation ecosystem. The Cité des Arts et des Sciences illustrates the city's avant-garde vision, which has only grown stronger since then.

• The city's transport infrastructure is also well developed. Valencia's international airport (which recorded over a million passengers in October 2024 for the first time in its history) and high-speed rail network(AVE) make it easy to get around Spain and abroad. All in a less congested environment than Barcelona or Madrid.

• Connectivity is an essential criterion for digital professionals, and Valence does not disappoint on this point.

• The city boasts a fast, reliable Internet network, essential for working efficiently online, and excellent mobile coverage.
• There are 49,000 free wifi connection points.
• The many coworking spaces (numbering around 50), such as Wayco, Vortex Coworking and Garage Coworking Valencia, fill up every day. They offer not only equipped offices and professional services, but also a stimulating environment where digital workers can exchange and collaborate.

A booming technology ecosystem

Valence is currently undergoing a technological boom, driven by a dynamic and innovative ecosystem that attracts startups, investors and talent from all over the world.

Key players in innovation

Incubators and gas pedals such as Lanzadera and La Marina de Empresas offer active support to 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 asAmadeus have chosen Valencia as the location for their strategic operations, reinforcing its role as an innovation hub.

Dynamic startups

According to theValencian Community Startup Observatory:

• 83% of the Community's startups are based in Valence itself.
• Their number increased by 15% in 2024 and they created 20,022 jobs.
• Artificial intelligence is integrated into 21.07% of these companies, reflecting 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 (versus 13% in 2022).
• More than 50% operate internationally.

Caption: Where are the Valencian Community's startups located?

Source: Valencian Community Startup Observatory

Booming technological fields

Valence stands out in several key sectors:

• Health Tech: digital solutions for healthcare, supported by leading hospitals.
• CleanTech: green technologies and renewable energies, supported by the city's ecological vision.
• Fintech : innovations in financial services.
• AgriTech: modernizing traditional agriculture through innovative technological solutions.
• LegalTech: digital tools dedicated to the legal sector.

Focus on Startup Valencia, the catalyst for Valencia's technology ecosystem

Startup Valencia is a private organization founded in 2017 with the aim of making Valencia a Tech capital , and it's well on the way to winning its bet. It promotes entrepreneurship, connects scientific and academic talent, creates an optimal framework for developing digital projects.

The association has over 350 members: startups, investors, tech companies and more. Thanks to its actions, it drives the digital transformation of the Valencian economy and sends out a positive signal to talent and investors from all over the world. With the support of Startup Valencia, the region has become a must.

Its biggest 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 at the Cité des Arts et des Sciences, attracted over 12,000 participants from 110 different countries, including 700 investors, the co-founders of YouTube and the creator of Facebook Live.

Now an international benchmark, the VDS fosters exchanges between startups, investors and players in the tech sector, consolidating Valencia's position as a leading European technology hub.

• Discover in video the Valencia Digital Summit.

For the region, the economic spin-offs of the VDS can be counted in the tens of millions of euros (over 12 million for the previous edition).

Valence: a favorable environment for startups and digital nomads

The explosion of digital nomads in Spain and 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 an attractive new epicenter for mobile workers.

The municipality estimates that around 2,500 digital nomads reside in the city. A recent ranking places it third in the ranking of the best Spanish cities for digital nomads, just after Madrid.

Visa for digital nomads

It has to be said that the Spanish government has set up initiatives to make it easier for entrepreneurs and digital nomads to settle in. Since 2023, a special visa has facilitated 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;
• Taking out private health insurance;
• Provide proof that they have been working remotely for more than 3 months.

Valence, Tech Capital: the challenges 

While Valence has many assets, it also faces a number of challenges:

• Need for ongoing investment: to sustain and accelerate its growth, the city must continue to attract significant public and private investment.
• Internationalization: Valencia needs to further enhance its international appeal to attract more foreign talent and companies.

These challenges represent opportunities for investors and visionary entrepreneurs who want to participate in the growth of this emerging ecosystem. Would you like to register?

Valencian neighborhoods popular with expatriates and digital professionals 

To help you plan ahead, our experts have put together a mini-guide to the must-see neighborhoods for expatriates, investors and professionals.

Ruzafa: the trendy, multicultural district

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, its cosmopolitan atmosphere and cultural effervescence make it a real magnet. Here you'll find trendy cafés and modern coworking spaces, art galleries, independent designer boutiques and markets like 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 Valencia's historic district, located in the heart of the old town. Its narrow pedestrian streets, ancient buildings and picturesque squares bear witness to the city's history. The district attracts visitors with its bohemian atmosphere, authentic tapas bars, street art (often politically motivated), small craft stores and lively nightlife. Cultural venues such as theIVAM (Valencia Institute of Modern Art) and the Centre del Carme are popular with locals, and coffee shops are flourishing. More and more foreigners are settling here to enjoy its unique character and relaxed lifestyle.

The Cabanyal: Valencia's maritime soul

The Cabanyal is the old fishermen's quarter on the Mediterranean coast. Rehabilitated in recent years, it has become one of the most attractive areas for expatriates and digital workers wishing to combine work and jogging on the beach. The small, colorful houses and authentic charm of the Cabanyal contrast with the modernity of the rest of the city. The district is undergoing a cultural renaissance.

Benimaclet: calm, approachable and creative

Benimaclet, slightly on the outskirts of the center, is a quieter neighborhood, perhaps even more authentic. Rents here are significantly lower than in the central districts, and the atmosphere is relaxed, with alternative bars, cultural events and a lively community life. Close to the universities, Benimaclet is a melting pot of students, local families and young professionals.

To find out more, contact the experts at Terreta Spain.

Administrative procedures for moving to and working in Valencia 

EU citizens

1. Obtain an NIE (Numéro d'Identité des Étrangers). To find out more, read our full article.
2. Register with the central register of foreigners.
3. Register with the municipality to obtain the census certificate(empadronamiento). Here's the link to obtain the certificate in Valencia.

Non-EU nationals

1. Obtain an NIE (Numéro d'Identité des Étrangers).
2. Apply for a TIE (Carte d'Identité des Étrangers). Insert PS link once online
3. Obtain a special visa for digital nomads (introduced in 2023).

Conclusion 

Valencia is the new Silicon Valley of the Mediterranean. It has established itself as a major technology hub in Southern Europe, thanks to a dynamic ecosystem, modern infrastructures and a strategic vision supported by public and private players. Its growth potential attracts international talent and investors, placing the city at the heart of European innovation.

FAQ : Valencia, Spain's new tech capital 

Why has Valencia become such a popular destination for digital nomads?

Valencia attracts digital nomads thanks to its affordable cost of living, high-performance Internet connectivity, and modern infrastructures 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 major metropolises like Madrid or Barcelona.

Which technology sectors are booming in Valence?

Valence stands out in several technological fields:

• Fintech: innovations in financial services.
• Health Tech: technologies for digital health thanks to state-of-the-art hospitals.
• AgriTech: technological solutions to modernize traditional agriculture.
• CleanTech: innovations in renewable energies and green technologies, supported by the city's ecological vision.

How do I obtain a visa to work remotely in Valencia?

For non-European nationals, Spain has been offering a digital nomad visa since 2023 thanks to the Startups Law. Criteria include:

• A minimum income of €2,140 per month.
• Private health insurance.
• Proof of having worked remotely for a foreign company for at least 3 months.
  European Union citizens do not need a visa, but must obtain an NIE to reside legally in Spain.

Which neighborhoods are recommended for expatriates and digital nomads in Valencia?

• Ruzafa: a hip, cosmopolitan neighborhood, ideal for digital nomads looking for a lively lifestyle. Modern cafés, coworking spaces and a creative atmosphere make it a must for young professionals.
• El Carmen: located in the heart of the old town, El Carmen boasts historic charm and a lively nightlife. Perfect for those who like to combine culture, history and socializing.
• Cabanyal: a former fishing district, Cabanyal combines proximity to the beach with 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, 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 technology ecosystem?

Valencia organizes major events that position the city as an international technology hub:

• The Valencia Digital Summit (VDS) has been attracting over 10,000 participants every year for the past 7 years, promoting exchanges between startups, investors and talent.
• Startup Valencia: key organization supporting innovation with incubation and mentoring programs.
• Valencia Startup Weekend: meetings between entrepreneurs and professionals to explore new opportunities and projects.

Sources

Numbeo

Idealista

Boletin Oficial del Estado

Fotocasa life

Ministerio de Asuntos exteriores

Wikipedia