New Build or Old Charm: What’s Better to Rent?

When buying property to rent out in Valencia, one of the first decisions you'll face is this:

Should you invest in a modern new build — or an older, character-filled flat in a classic building?

There’s no one-size-fits-all answer. Each option has its strengths, and the right choice depends on your goals, your budget, and your ideal tenant.

Here’s how to weigh the pros and cons.

New builds: modern, efficient, and low maintenance

If your priority is ease and reliability, new construction can be very appealing. These flats are typically move-in ready, with no renovation required.

What tenants like:

• Elevator and accessibility

• Air conditioning and insulation

• New kitchens and bathrooms

• Energy-efficient systems

• Underground parking (in some cases)

As an owner, you’ll also benefit from:

• Lower initial maintenance costs

• Modern wiring and plumbing

• Clear legal documentation

• Often, access to shared amenities (pool, gym, etc.)

New builds are especially attractive in neighborhoods like Quatre Carreres, Campanar, or areas near the City of Arts and Sciences, where large residential developments are common.

Older flats: charm, character, and central location

Valencia’s historic buildings — especially in Ruzafa, El Carmen, and Cabanyal — have a unique charm that new builds can’t replicate.

What tenants love:

• High ceilings

• Exposed beams or original tilework

• Balconies with street views

• Walkability and access to cultural hotspots

However, they often come with:

• No elevator

• Limited natural light in some layouts

• Older plumbing and insulation

• Higher maintenance over time

They may also require significant updates before being rented — which can mean a bigger upfront investment, but also more potential to add value.

What’s better for rental income?

• New builds may attract more stable, long-term tenants (especially families or professionals) who value convenience and comfort.

• Older flats tend to appeal to younger renters, creatives, and expats looking for personality and location — especially if furnished and renovated with style.

In terms of income, well-renovated older flats in sought-after areas can often match or exceed the rental rates of new builds in less central zones — but only if well maintained.

Final thought

If you want hands-off rental income, a new build might be best.
If you want to maximize value and are open to renovating, an older flat in the right location can outperform expectations.

Still deciding?
We help buyers compare properties side by side — including real rental estimates and renovation cost breakdowns — so you can invest with full clarity.