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Murcia News – February 2018

Murcia News
 
It has recently been announced that the long awaited opening of Corvera airport will now take place in December 2018. This will mean that San Javier (Murcia) airport will close. At present Ryanair have announced that they will move their operations to the new Corvera airport and we are awaiting further news of other airlines plans. 
 
The saga surrounding Corvera airport has been a long and convoluted one and with an opening date now agreed this can only be good news for future growth within the region.
 
Other news surrounding property prices is also encouraging. Data released has shown that the market price per square meter has risen by 2% to 990 euros per square meter. This price is still 38% lower than in the last quarter of 2007 when prices were at their peak. The increase in prices although small is a good indication that property prices are moving and anyone wanting to secure a property should consider commencing a search sooner rather than later in order to benefit from the excellent value currently being offered.
 
Brexit is another important consideration for UK buyers. Indications are that life in Spain for UK nationals who are resident here prior to Brexit will not alter considerably. Many government officials have made statements locally to allay fears of current residents and it seems that they are hoping to make the transition as easy as possible. 
 
Anyone considering a purchase would be wise to consider doing this prior to Brexit rather than wait until after as additional bureaucracy will no doubt become necessary in order for non-EU citizens to purchase within Spain.
Murcia News – February 2018 - 5.0 out of 5 based on 1 vote

Cruise ships to begin sailing from Cartagena, Murcia, Spain

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

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.

Please contact for further information.

Property price update for Murcia, Spain.

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 price update for Murcia, Spain. - 5.0 out of 5 based on 2 votes
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