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. Monteolivete for example. What are the best places to invest in and what do they have to offer? You read it here.
The new Russafa. We consider Monteolivete a no brainer if you are looking for the perfect balance between investment and lifestyle. It is a popular neighborhood with accessible prices that has developed into a part of town with excellent quality of life. You will enjoy this neighbourhood especially when you have kids, because Monteolivete offers various strips of green, and has direct access to the Riu Turia.
The name of the district comes from an old farm (ermita) dedicated to the Virgin of Monte Olivete. This ancient farm was located in the same place as the present church of Monteolivete. In 1877 Monteolivete became part of the municipality of Valencia. The real boom of the district came in the sixties of the previous century with the build of numerous apartment buildings.
Monteolivete is located just south of Russafa and therefore enjoys a spill over effect. We look at it as the extension of Russafa. Moreover, it is close to the Turia Park and the City of Arts and Sciences. The neighborhood with 20,000 inhabitants belongs to the district Quatre Carreres.
Monteolivete is one of the emerging districts in Valencia. It has the advantage that it’s close to the Turia Park and the City of Arts and Sciences and that it’s quieter and more residential than Russafa. It also features some nice lanes, traditional shops and excellent means of transport. On top of that it is a lot cheaper. Be aware that here too prices are rising but not so fast. You will still find three-bedroom apartments for 160 – 180k or apartments that need refurbishment for about 130-140k.
The Museo Fallero is probably the most Valencian museum. As its name suggests the museum guarantees a rich and informative overview of the Las Fallas Festival, which takes place every year in March. The Museo Fallero is the shelter for the Fallas (monuments) that are saved from the burning. Very impressive is the collection of vintage posters.
Ciudad des Artes y Sciences
Undoubtedly the most iconic landmark of Valencia. The collection of giant futuristic objects on the east side of the Turia Park are no crashed space ships of Fallas visitors from another galaxy, but an arts-and sciences centre. It features museums, an aquarium, the highest opera house in Europe and a garden that turns into an open-air disco at night. Designed by Santiago Calatrava.
Groceries and Shopping
Most commercial activity can be found in the streets Amado Granell (General Urrutia), and Carrer de L’escultor José y Capuz. The centro comercial El Saler has a cinema, children’s entertainment and a giant Carrefour. Every Friday from 10.00 to 14.00 there is a market in Calle Finestrat.
Eating & Nightlife
The most famous place for a good night out in Monteolivete is La Buleria. La Bulería is a cult place for enjoying flamenco in Valencia. La Bulería offers a unique Flamenco experience, as intense as unforgettable, accompanied by the best of Mediterranean cuisine served in a beautiful restaurant. Book your table on time!
A new metro station is currently being built on the Avenida Amado Granell. It will be served by metroline 10, which will run from the North Station to Nazaret (also see: Unkown but interesting neighborhoods – Part II: Nazaret). According to the latest official reports, this line will be operational from 2021.
Investing in Monteolivete
Most of the district is priced around the middle range. According to the latest Trovimap figures, the average asking price per square metre in Monteolivete in March 2019 is € 1,694, an increase of almost 14 percent compared to last year. In Russafa there was an increase of 20 percent, to the level of € 2,611. On average, prices in Monteolivete are only 65% of those in Russafa. Monteolivete is following in its big brothers’ wake. Now that surrounding neighborhoods such as Canovas and Russafa are out of reach of starters and many investors, they focus on Monteolivete. Prognosis support that this is the next district where we will see exponential growth. Monteolivete is a healthy investment.
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 Monteolivete 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.