MURCIA

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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.

Published in Blog

Murcia

The region of Murcia is situated in the South East corner of Spain. It is renowned for its great climate and it is claimed has 330 days of sunshine per year. The region has seen many changes over the last few years primarily due to an increase in tourism and investment in infrastructure, due to financial assistance from the European Union.

The city of Murcia was built in 831 when the Emir of Adberraman II commissioned a walled city on the banks of the Segura River. The city is surrounded by mountains and has many attractions for its visitors. The old town is situated next to the Segura River and the streets within this area have kept the names of the professions that used to work there. There are two lovely buildings in Plaza Cardenal Belluga - the Episcopal Palace which was built in the 18th century and the Cathedral, construction of which began in the 14th century. In addition to the historical attractions you will also find water parks, safari parks, aquariums, museums, sports facilities and great shopping malls.

Outside of Murcia city there are many beautiful towns, and also the coastline of the Costa Calida which attracts many visitors each year. The coastline of Murcia is un-spoilt which is unusual in Southern Spain, this is due to strict building regulations regarding the development of coastal land. You can therefore still enjoy a relaxing walk along promenades in coastal towns like Los Alcazares and San Pedro del Pinatar. You can drive along La Manga Strip, and enjoy a beer overlooking the Mediterranean and then walk across the road to have lunch on the beaches of the Mar Menor. You can visit the protected beaches on the nature reserve in Calblanque or enjoy a round of golf at the famous La Manga Club. You may also want to visit Mar de Cristal with its beautiful beach and views across the Mar Menor.

Aside from the regions geographical attractions there has been a lot of investment made in the last few years in the development of golf resorts. These include the Polaris World Golf Resorts, Mar Menor Golf, Terrazas de la Torre, El Valle, La Torre and Hacienda de Riquelme and also Roda Golf based in Los Alcazares. These facilities provide guests with a safe family environment in which to enjoy all the services associated with a resort holiday.

There is also the wonderful La Manga Club which offers clients a 5 star luxury holiday location and is frequented by many guests on a regular basis. The facilities on this resort are unrivalled within the area, having 3 golf courses, LTA approved tennis centre, 5 star hotel, bars, restaurants and many other attractions.

Overall Murcia is a great place to for people to enjoy all year round and can offer some of the most attractive investment opportunities within the property sector. And Corvera Airport is now open and international!

Published in JMP