Property sales fall across Spain with the exception of the Costa Calida area, Murcia
A recent report from the Spain’s Notaries regarding property activity confirms that Murcia was the only region in Spain with an increase in property sales during the later part of 2019. This report confirms the increasing popularity of the area of Murcia for both Spanish and foreign nationals wishing to purchase a property in the sun.
The report shows that out of the 17 autonomous regions of Spain, Murcia was the only one that showed an overall increase of 3.4 % of property sales during the third quarter of last year compared to the previous year. This is a very encouraging sign and shows that both Spanish and foreign nationals are realising the great property deals that are available in the region.
Another report from the property website www.kyero.com shows that the most popular area searched on their portal for property in the region of Murcia was Torre Pacheco. This area is where the Mar Menor Golf resort is located and here clients can find extremely well priced 1,2 and 3 bedroom apartments available at discounted prices. It also shows that the areas of Los Alcazares and San Pedro del Pinatar are increasingly popular due to fantastic new build properties currently being marketed there.
Overall the property market in Murcia is showing increasing signs of improvement and with prices showing increases quarter on quarter those wishing to invest in property in the region should consider doing this sooner rather than later to avoid higher prices.
Corvera Airport Update
The president of AENA Jaime Garcia-Legaz has recently revealed further details about the progress being made towards the opening of Corvera airport. He has stated that there is still a lot of work to be done before the Region of Murcia International Airport can welcome its first flights but that in his opinion the airport should open between the 7th and 15th January 2019.
This date is slightly later than the December 2018 opening which was mentioned previously, however this would indicate that things are progressing towards obtaining the necessary licences and permits. He also stated that it would be logical to wait until after the busy Christmas period before the transition of flights from San Javier airport so any initial teething problems can be dealt with during the quieter period of early January.
Negotiations have already commenced with Ryanair, Easyjet, Iberia Express and Volotea concerning possible routes into and out of Corvera. It is expected that the choice of routes available to clients will only increase with the current schedules being maintained. It has been confirmed that there will be a public bus service to and from the airport but specifics haven’t yet been published as this will depend on the frequency of flights.
Sheraton to manage 5 star hotel on the Hacienda del Alamo Golf Resort, Murcia.
It has been announced that the hotel chain Sheraton have taken over the management of the 5 star hotel on the Hacienda del Alamo Golf Resort. This comes shortly after the news that Corvera airport, which is only 7 km from the resort, will open at the end of this year. They plan to re-open to the hotel under the name Sheraton Hacienda del Alamo and this should take placed in July 2018.
The hotel currently occupies a plot of 38,500 sqm and has 154 rooms and suites. Facilities on-site include a spa, swimming pool complex, basketball courts, tennis and padel courts, a bowling green, football pitch as well as the 18 and 6 hole golf courses. These were designed by Dave Thomas and the main course which was opened in 2004 is of international standard. The hotel will also provide a congress hall and various meeting rooms.
It is hoped that the hotel will provide a boost to the local economy by providing 120 new jobs and obviously attract additional visitors to the both the resort and local area.
The opening of the hotel will undoubtedly provide a welcome boost to property sales on the resort and provide current residents with additional amenities.
IS SPAIN THE NEW INVESTMENT COUNTRY OF CHOICE??
In 2017 Spain became the world’s second most visited country with a record 82m visitors according to the PM Mariano Rajoy. This takes Spain ahead of the USA for tourist numbers, an impressive achievement and a 9% increase on the previous year. The number of visitors to Spain has increased every year for the last 5 years and this is despite the Barcelona terror attacks and Catalonia crisis. The only country with more tourists is France but this may change shortly.
The all year round mild weather, great food, modern transport facilities, unspoilt scenery and a rich cultural background make Spain a great touristic hotspot. It also has over 579 blue flags issued for it’s beaches, nearly double its nearest rival of Greece.
In addition to the above Anticipa, a leading real estate analyst in Spain, is predicting a national property price increase of 6.1% in 2018 with the expected number of properties to be sold at 526,000. However even with the expected increase the average Spanish property will still be valued at 27% lower than in 2008.
All of the above are contributing to the number of property investors who are now returning to Spain after the property slump of 2008. For a while it has been the UK that was the destination of choice for investors but with the growing uncertainty over Brexit and high prices Spain is now becoming an attractive proposition for many. According to a poll by Knight Frank of leading real estate investors, 20% of those consider Spain as their preferred investment opportunity with the UK accounting for just 12%. The reasons for this are a strengthening Spanish economy, attractive prices and a good choice of available units.
For those considering an investment now is the perfect time to start considering your options and finding our whether the purchase of a Spanish property is the right option for you.