Ever thought about moving to Valencia but don’t want to tread the beaten path? If you ask locals about the best neighborhoods, they will answer Russafa, El Carmen or El Cabanyal. But Valencia has so much more in store for you. Patraix for example. What are the best places to invest in and what do they have to offer? You read it here.
Patraix, south of the city of Valencia, has always been struggling to find its identity and it now seems that it has finally discovered it. The district continues to follow the trends of big brother Ruzafa, but combines the calm vibe of a local neighborhood with the innovative initiatives from a big town.
Patraix has been a residential area since Roman times. For centuries it was an independent municipality until it was annexed by the city of Valencia in 1870 and thus became a district.
Patraix is the name given to district 8 of the city of Valencia and has about 60,000 inhabitants. It borders to the north with L’Olivereta, to the east with Extramurs and Jesús, to the south with Poblados del Sur and to the west with the municipality of Chirivella. It consists of five districts: Sant Isidre, Vara de Quart, Safranar, Favara and Patraix, on which we will focus on in this article.
Although the neighborhood is close to the city centre, Patraix has always preserved its essence as a village. This becomes apparent when you walk through the streets, admire the houses and enjoy the peaceful atmosphere. The traditional houses can be found around the Plaza Patraix and surrounding streets (Calle Alcudia, Marqués de Elx, Beata Inés …).
Many young people and families settle in Patraix. They move to the district to escape the hustle and bustle of the city centre. Prices have not risen as much as in other parts of Valencia to boot.
Urban art lovers can indulge in the artistic graffiti that adorns Patraix’s streetscape.
In the historic centre of Patraix you will find small townhouses with balconies and whitewashed facades. The most important point is the Plaza de Patraix. The terraces and the large pedestrian area are the ideal setting to seize the day with family and friends.
Places of interest
The eye-catcher on the Plaza de Patraix is the church with its characteristic narrow tower.
The park popularly known as the Parque de los Locos, which is officially called the Parque del Padre Jofré, features an old psychiatric sanatorium. In this park you will also find the Archivo General y Fotográfico de la Diputación, where thousands of documents and photographs of great historical relevance are kept.
In the Mercado de Jesus you can choose between almost 70 stalls to buy your fresh and local products.
Shopping & groceries
If you love the local shops and the artisanal products of the local butcher and patisserie, then Patraix is definitely your thing. But the neighborhood also has its innovative and modern side. A good example is l’Alquería de Mara. This refurbished farm combines history with design and houses numerous shops. On a regular basis you can participate in cooking workshops and events of all kinds. The multipurpose hotspot also has a co-working.
Food & nightlife
The typical Spanish menu and tapas are served at La Casa Del Tapeo, Veu Veu and El Observatorio, all around the Plaza de Jesus. Patraix is also near to to the popular nightlife area of Abastos. Try one of the local salsa clubs for a truly traditional experience.
By metro you can get off at the Jesús or Patraix stops. It is also possible to go to Patraix by bus via numerous lines, including 9, 10, 27 and 71.
Patraix is located near the Joaquin Sorollo AVE train station, the main gateway for those coming from Madrid or Barcelona.
Investing in Patraix
The average asking price per square metre in Valencia in February 2019 was € 1,879. In the Patraix district, the average price per square metre is € 1370.
Compared to February 2018, the asking price in the district of Patraix has risen by 9.41%. The growth can be attributed to the 27.22% increase in the district Vara de Quart. This contrasts with the Favara district, where the price per square metre fell by 7.08%. These figures from Trovimap may be a snapshot, but do reflect a trend.
Especially the Patraix district is extremely suitable for real estate investments. Apartments with low entry costs generate a comparatively solid rent. You can aim for a return on investment of about 8 percent.
We invite you for a walk through the streets of Patraix. You will fall in love with the district as much as we did.
Close the circle, invest wisely
The Blue Key services offers a one-stop solution for foreign investors in Valencia.
We help our customers find their dream property, we assist them with the legal side of the purchase (we are lawyers), we do the property management, and we rent out the property to expats through our sister company Globexs.
Do you want to know more about Patraix in Valencia, or investing in Valencia in general? Contact us here, or send us an email ([email protected]). Also, visit Globexs.com for interesting rentals in Valencia.