1. City of Arts and Sciences: Valencia is home to the City of Arts and Sciences, an architectural complex that includes a science museum, planetarium, aquarium, and more. It is one of the most photographed landmarks in Spain and features futuristic structures designed by Santiago Calatrava. 2. Las Fallas Festival: This world-famous festival, held every March, celebrates the arrival of spring with elaborate sculptures made of papier-mâché, fireworks, and street parties. The festival culminates in the burning of the sculptures, known as "La Cremà," where the city is transformed into a vibrant spectacle. 3. Valencian Paella: While many associate paella with Spain as a whole, Valencia is the birthplace of this iconic dish. Traditional Valencian paella is made with local ingredients such as rabbit, chicken, and green beans, distinguishing it from the variations found across the country.
The housing market in Valencia, Spain, is experiencing a significant crisis, characterized by a severe shortage of rental properties and rising prices. The pandemic and the influence of Airbnb have exacerbated this issue, leading to a competitive market where available rentals are scarce and often unaffordable. The city's rental crisis is marked by a lack of incentives for investors to enter the rental market, with many properties being left empty by banks and investment funds awaiting optimal selling conditions. Valencia's housing crisis is further complicated by the high demand for rentals, both from locals and those relocating to the city. The situation is worsened by the conversion of long-term rentals into short-term holiday rentals, which has significantly reduced the available stock of affordable housing. To address this crisis, the city is exploring various solutions, including government action to compel large property holders to rent out their apartments and increasing social housing with fair rents. However, these measures require significant time and financial investment, making immediate relief challenging.