Murcia is touted as one of the most upcoming regions in Spain, and property prices here are almost 50% cheaper per sq. m. than anywhere else in the region. Investors are beginning to see the potential of Murcia as an investment destination as millions are being pumped in infrastructure development.
Spain has been one of the top tourist destinations in Europe for many years. Many people have bought holiday homes in the sun; however, demand has now pushed prices in many areas of Spain sky high. Sure, the recent press on the market crash in Spain has also put a dampener on the average investor. But a little known fact is the market has only gone through a downturn in the Costa del Sol leaving the rest of Spain still ripe for investment.
In a recent Daily Mail article, Murcia was being touted as the newest hotspot in south-east Spain. Located between Alicante and Aguilas, this region has been slow to jump on to the tourism bandwagon. But it is making up for lost time. Anyone who has flicked through the Real Estate TV channel in recent times will have undoubtedly come across the “Next Big Thing” – Murcia. With 180 miles of coastline, unspoilt villages, and one of the balmest climates in Spain, any investment in Murcia today will reap excellent rewards in the next 18-24 months.
What makes Murcia an excellent investment today?
- High speed rail link from Murcia to Madrid
- New international airport which will be fully operational by December 2008
- 3 new motorway links already underway
- 180 miles of stunning Mediterranean coastline
- Already established resorts like La Manga commanding very high premiums on rentals and resales
- Large developers like Polaris World are pumping millions into various development schemes
In general, Spain has reported a significant rise in prices (around 28%) in the previous two years and, if you invest in the right property in the right location, you can still be assured of a healthy return on your investment. There have been some adverse comments in the media recently, regarding falling property prices in Spain. This is certainly true in some areas particularly Costa del Sol and parts of Southern Costa Blanca. The effect of over-build at highly inflated prices in these regions has resulted in the necessary price realignment. However, Murcia has remained untouched by these fears and is ready and waiting to be the next big thing.
There are various projects and resorts being developed in Murcia, especially targeting the tourist market. Certain properties on offer are at least 50% cheaper than what you can buy in the UK and significantly below prices compared to the Spanish regions mentioned above. One such investment is the Murcia Golf and Country Club. In its very early stages of development, this project allows for tremendous capital growth on the 6 million sq. m. site which will have low rise apartments, townhouses and villas surrounded by two 18 – hole golf courses with surrounding lakes.
There will also be 200,000 sq. m. of commercial centres, with numerous shops, restaurants, a 5 star hotel, and complete sporting facilities on site, including, communal swimming pools, making for all year round holidays and rentals.
Investors Provident are currently offering a mixture of apartments and villas on this project for prices considerably cheaper that the developer are offering on the open-market. Prices start from €89,950 for 840sq.ft. two bed apartments with instant equity of €10,000 on the open-market prices. When compared to properties in Bulgaria, prices here are even cheaper – less than €1,200 per square meter. Similar properties in the neighbouring Polaris World resorts are selling for over €3,000 per sq.m., making this project a steal!
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