Spain’s Murcia has all ingredients for rapid property recovery
Specialist Murcia estate agent, Mercers, has just experienced its best summer sales period for five years. With buyers coming from Norway, Sweden, Spain, France, Ireland, the UK and beyond, Murcia is attracting a diverse international audience who are lured by four key factors – the Paramount-branded Theme Park, golf, improved accessibility and, above all, price.
Chris Mercer, Director of Mazarron-based Mercers, explains, “We know that Spain is far from being out of the woods in terms of its property crisis but you can’t generalise the nation as a whole. The region of Murcia is certainly poised in pole position for recovery. Price is the driving force that puts Murcia as the top searched-for Spanish destination as confirmed by leading property portals. One portal quoted average asking prices for Murcia at 163,000 euros, way below the national average of 263,000 euros, and we’re selling golf-side property from as little as 50,000 euros. If you’re in the market for buying a holiday home or expanding an investment portfolio, Murcia is hard to resist.”
Indeed most-visited Spanish property portal, Idealista, quoted average asking prices for homes advertised on their database at 2,167 euros per square metre, down from 2,339 euros per square metre for August 2010. Yet Mercers can undercut this considerably. Take the above-mentioned two bedroom one bathroom golf resort home with rooftop solarium and small front garden priced at 50,000 euros for a quick sale – at 60m² it works out at just 833 euros per square metre, smashing the national average.
It’s not just price that’s pulling in the interest. Murcia has also found itself basking in the media spotlight thanks to plans for a Paramount-branded Theme Park, tipped to open in 2014. Predicted to attract in excess of three million tourists each year and located literally ten minute's drive from Mercers' Head Office in Mazarron, the Park is creating a lot of excitement and could have a ‘Disney effect’ on future prices. The project will be officially presented in Madrid next week on 4 October.
In tandem with the Paramount hype is the news that works on the brand new Murcia International Airport are drawing to a close with the first passengers going through the facility in spring 2012 following final Government approval. Located within 20 minutes of the proposed Theme Park, this airport was vital in Paramount’s negotiations and also has a welcome knock on effect for improved accessibility to the properties within Mercers’ portfolio.
The final factor, golf, has also been key to Murcia’s success as property within easy reach of golf is less likely to depreciate significantly. Murcia’s climate allows for year-round practicing of the sport, played by an estimated 60 million people worldwide, and with many excellent golf courses on offer it’s a welcome boost for homeowners looking for holiday rental income. Indeed holiday rental prospects are looking good for Spain as, according to reports from FRONTUR, August 2011 saw a 9.4% year-on-year rise in the number of foreign tourists visiting Spain with a record-breaking high of 7.64 million arrivals for that month.
REC72, Terraced Villa, Camposol Golf, Mazarron
It’s quite incredible what you can purchase for less than 50,000 euros. This terraced two bedroom one bathroom 60m² villa has been reduced for a quick sale and is set in a quiet 119m² plot on Camposol Golf. Never lived in, the property is fully furnished and has a small front garden with spacious terrace and a rear patio with steps leading to a rooftop solarium boasting lovely mountain views. Camposol Golf has an 18-hole golf course, four star Spa hotel and plenty of shops, restaurants and bars on site. The blue flag beaches and marina of Mazarron are within a 15 minute drive.
Price: 49,995 euros (approx 43,400 GBP)
ROD85, Detached Villa, Camposol Golf, Mazarron
A lovely detached Rosa-style villa of 71m² on a coveted 400m² corner plot within Camposol Golf. The home has two bedrooms and two bathrooms and is fully equipped with white goods, air-conditioning, ceiling fans, a log burner, fly screens, solar panels and an internet connection. Outside the beautifully landscaped garden has a Spa-style swimming pool with jets whilst a Jacuzzi sits on the rooftop solarium, perfect for admiring the countryside views. The home also has a handy conservatory enclosed with netting for those long hot summer days. Camposol Golf has an 18-hole golf course, four star Spa hotel and plenty of shops, restaurants and bars on site. The blue flag beaches and marina of Mazarron are within a 15 minute drive.
Price: 129,995 euros (approx 112,800 GBP)
For more information, visit spanishproperty.co.uk.
