Cruise ships to begin sailing from Cartagena, Murcia, Spain
More good news for property owners on the Costa Calida as Princess Cruises are now offering passengers the opportunity to start and finish their Mediterranean cruises from the historical city of Cartagena, Murcia.
The first cruise will beave on the 8th May 2016 and there will be a further 5 cruises later in the year.
This will be a massive boost to the local economy in Cartagena as passengers will be more likely to spend time within the Murcia region before and after their cruise.
Last year over 100 cruise ships docked at Cartagena bringing over 150,000 passengers to the local area.
These passengers, who were mainly on day trips to the area, provide local businesses with valuable trade opportunities and help increase the local economy.
Great News for the La Torre Golf Resort, Murcia, Spain
Some wonderful news for current and prospective owners on the La Torre Golf Resort. The Intercontinental hotel has been sold and will be re-opening in the next few weeks. This is great news for owners and those considering a purchase on the resort. The company who has purchased the hotel are called The Phoenix Group and are a family company based in Santiago, Chile. As well as working in the real estate market they also have interests in tourism, financial investments and renewable energy.
The group also owns the very successful luxury Hotel La Quinta which is based in Marbella.
As well as the hotel the Phoenix Group have also taken possession of the Limonero and La Encinca restaurants, as well as the Woodhouse golf bar, Bamboo bar, Pinos bar and the conference centre.
This is great news for the resort as it will mean that facilities on the resort will improve, increasing both property prices and rental returns for owners.
In addition to the above is has been confirmed that Polaris World have now paid in excess of 2 million euros of outstanding community fees. This will enable the community to reduce the fees for owners for 2016.
Now therefore is a great time to consider an investment in one of the many properties currently available at greatly reduced prices on the resort.
Property price update for Murcia, Spain.
During the month of October Murcia topped the list of regions within Spain for the number of residential property sales compared to last year. The figures show an increase of 35% compared to October 2014.
The number of sales for the total year so far is nearly 12% higher than at the same point last year. There are also signs that property prices are increasing with a 1.8% increase in prices year on year. Although this is only a small increase these figures are being seen as the most encouraging for 8 years, and are creating a feel good factor in the industry in general.
We are seeing a much greater interest from buyers looking at purchasing within the region, with enquiries up 25% from last year. People are encouraged by the lower prices and better quality of the new builds currently on the market. The exchange rate is also having a big impact with buyers able to get much more for their money when converting their home currency to euro’s.
Based on our own data the most sought after properties are situated either in the coastal villages of the Mar Menor such as Mar de Cristal, Los Alcazares, Santiago de la Ribera, Lo Pagan and Cabo de Palos, or the golf resorts of La Manga, Mar Menor, Roda and Terrazas de la Torre. Each of these areas have some modern, newly built properties available at amazing prices compared to several years ago. You will find that the build quality is better as developers are aware clients have a wide choice of properties to select from and are more discerning than in previous markets.
All of the above factors are creating a feel good factor within the industry and this can only bode well for future development within the region.
Property sales in Murcia
Figures just released by the Ministry of Development show that the recovery in the Spanish property market is continuing. Based on the volume of sales during the second quarter, April to June, Murcia was one of the best performing areas with a 25.7% increase in sales compared with the same period last year. The number of properties sold was 3,474. The only regions of Spain to show a higher increase were La Rioja, Ceuta & Melilla, Cantabria and the Balerics.
During the first six months of the year the 5,885 sales in Murcia showed an 11.2% increase compared to last year.
All of the above shows that the Spanish property market, particularly in those areas where prices are still competitive, is showing an increase in demand. This increase in sales is also being helped by the banks making obtaining mortgages easier than in the last few years.
The number of mortgages being granted to July 2015 is 37.2% higher compared to the same period to July 2014. The average mortgage being granted in Murcia was around 92,000 euro’s.
Please contact us if you are interested in obtaining a mortgage for a property purchase within the Murcia region.