Spanish property on the Costa Blanca
32nd Americas Cup, Valencia 2007
This year Valencia, Spain's third largest city will host the Americas
Cup
the first time sailing's oldest event has been held in Europe since 1851
Outstanding property investment opportunities offered by this event
Valencia's Ocean Museum
In 2007, Valencia on the north of the Costa Blanca in Spain will be
host to the 32nd Americas Cup yacht race - the first time sailing's oldest
tournament has been held in Europe since 1851. As a result, Valencia - the
City of the Sea - is now one of the most-talked about cities in the world.
Valencia was chosen because it has stable wind conditions, is an
outstanding Mediterranean city with an excellent tourism infrastructure
and is one of Europe’s most important ports. Historically, Valencia has
been one of the Mediterranean’s crossroads and has long trading traditions
dated back 2000 years to the days of the Romans. The region is
agriculturally rich, has a warm climate and is famous for its vibrant
culture.
The Americas Cup
Spain's third largest city is surrounded by some of the most popular
holiday resorts in Europe and the prospect of drawing huge crowds for what
some see as an elitist sport clearly weighed heavily in the organiser’s
decision.
The America's Cup is the oldest continuously contested trophy in
international sport. The Cup was first won in 1851 by the yacht “America”
in a race around the Isle of Wight, and it was held by the New York Yacht
Club for 132 years, until an Australian yacht club finally defeated the
Americans in 1983. Since then the America's Cup has been contested on
waters off Perth, Australia, San Diego in the United States and Auckland,
New Zealand.
The Swiss organisers decided Valencia has ideal maritime navigation, and
naturally lends itself to the regattas of the America's Cup. The Gulf of
Valencia has one of the best sailing courses in Europe with reliable sea
breezes most of the year blowing at a constant 10 to 15 knots. Racing will
be held up and down the coast meaning the yachts will be in view of
spectators along the coastline for much longer than was usually the case
in previous races.
The Paseo Maritimo is adjacent to the port and provides the perfect
grandstand from which to watch the races. A new waterway, 80 metres wide
and 400 metres long, will be built from the inner dock to the sea to allow
the yachts to arrive at the race area in just 15 minutes. The port will be
expanded with five new floating jetties capable of berthing 120
fifteen-metre boats, and a new dock to berth a further 30 fifty-metre
boats.
The 2007 race is expected to broaden the race's appeal yet further after
being dominated by US and Australasian vessels.
Many experts believe that as a result of this event being based in
Valencia, property, real estate and land prices will soar in the region.
Estimates suggest an increase of at least 50% in property prices in the
three years running up to the event, whilst some authorities predict a
doubling of prices. These estimates are reasonable based on the fact that
property prices have already risen by up to 35% over the last 3 years.
Quality moorings have been in demand in the region for many years, with
long waiting lists in many Club Nauticos, but we are are now seeing prices
for mooring berths increasing dramatically because of the Americas Cup –
in some case doubling and trebling in just one year.
The Valencia and Alicante provinces are experiencing a property boom, so
now is the time to buy – whether you want a holiday home or you are an
investor looking for a substantial return.
