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Murcia Property Market is Booming

August 29th, 2012

We are just about at the end of yet another incredibly busy summer, the rentals at Roda Golf have far exceeded expectations, with availability almost non-existent throughout July and August! There was also vastly increased numbers of rentals at Corvera Golf – things at last are starting to look positive!

The one thing that has really surprised us, and to some extent caught us by surprise, is the sheer volume of sales enquiries and indeed the volume of sales made. This has been our busiest period for property sales in over four years with no sign of things letting up!

The enquiries are coming in from all over Europe including the UK, Ireland, Scandinavia, Germany, there have been purchasers from Jersey, South Africa, Canada and Dubai, so a truly fantastic summer at Roda Golf.

Hacienda del Alamo is also proving very popular, and with 100% mortgages available at Mar Menor Golf Resort, the enquiries have been coming in thick and fast.

There is no doubt that despite the doom and gloom, the property market is showing signs of real recovery, this is no time to get carried away, the recovery will take a number of years, but there is no doubt it has started!

VAT set to increase

With VAT set to increase from 4% to 10% on January 1st, there are just four months left to benefit from this fantastic VAT reduction, of course after the VAT increase, it will see the resale market “kick started” which really will signal a return to happier times! Availability will become a major issue, particularly for the nicer properties, and on the better resorts, this in turn will see property prices start to rise. It has been a tough few years, but things are improving and about time.

Paramount theme park news

The Paramount Theme Park camp announced that a new agreement was formalised in July. This laid down the regulations for the construction and operation of the attraction and was signed by the Mayor of Alhama de Murcia and Jesus Samper, the President for Murcia’s Flagship Projects (PREMURSA). This agreement replaces the original, which had to be modified when the amount of land purchased was slightly less than first intended.

The local council has reiterated that the Theme Park is continuing “on schedule” and Samper said “every day saw positive progress”.

Corvera International Airport news

Corvera International Airport has been “opening soon” for quite some time now! Installations and licenses are now, in the main, in place and Jet2 airlines has already said it will transfer its operations from San Javier to Corvera when it has the green light. Said ‘green light’ could come as early as November 2012 as the new Head of General Air Academy at San Javier, Colonel Emilio Juan Gracia, said the Region’s two airports were “close to reaching an understanding” on how to transfer operations from one to the other.

In addition, despite rumours of serious financial hurdles, spokesperson for Murcia’s Regional Government, José Ballesta, has recently offered his reassurance that the banks behind the Corvera Airport project are “calm” and awaiting the return of their investment patiently and with realistic expectations. The bank heading the financing plan, La Caixa, is said to be pleased with how the project is progressing. Meanwhile, Ana Pastor, the Spanish Minister for Public Works, said there was “peace and security” concerning the future of the Airport and she too believes everything is in place to have it operational before the end of 2012.

Chris Mercer, Director of real estate agent Mercers which is headquartered 10 minutes from the Paramount site, commented:

“No one is blind to the problems that Spain is facing financially, public spending cutbacks and high unemployment are taking their toll but glimmers of hope and positivity exist – in fact, Spain’s GDP was down just 0.4% for Q2 2012 whereas the UK’s was down 0.7%. Murcia is laying foundations for the future, putting itself in pole position for recovery – In the meantime property prices are rock bottom – at their lowest in a decade [and] we’re busy with bargain hunter buyers.

So our message is “Now is the time to purchase your dream home in the sun, with prices set to rise and a fantastic exchange rate, there has never been a better time to secure the bargain of a lifetime”

Even the Government ministers agree!

Spanish Economy Minister acquires bargain home in Spain

The Spanish property market is looking increasingly attractive for many people, with the number of enquiries and searches for property rising, and even the country’s Economy Minister has got in on the act, by snapping up a heavily discounted property in Madrid.

Luis De Guindos, Spain’s Minister for the Economy and Competitively, is reportedly in the process of buying a swanky two-bedroom penthouse in the heart of the city for €587.000 (£464,000), which is 64% below the €1.658m asking price of 2007.

Spanish Property Insight reports that the minister is buying the Spanish property from developer Reyal Urbis, who are accepting a €614,784 (£485,000) loss on the €1.1m (£870,000) they borrowed from Barclays to build the property, as a consequence of the Spanish property market crash.

The penthouse is one of 88 luxury apartments in the development, called Hoyo 10, in the sought-after La Moraleja suburb of Madrid, and around half the development is reported to be still on the market. The scheme features communal gardens, swimming pool, paddle-tennis courts and a gym.

“As the property is being sold for the first time by a developer, De Guindos will also enjoy a super-reduced VAT rate of just 4%, which will allow him to save tens of thousands of Euros on the purchase. At the start of next year VAT on new homes will go up to 10%,” said Spanish Property Insight’s Mark Stucklin.

Back in Business!

Murcia in South Eastern Spain is well and truly back in business and more importantly, we are open for business!! Please contact us now to see how we can help you purchase your new villa or apartment in Murcia.

Visit our regularly updated website http://www.calidainternationalproperties.co.uk
Telephone: 0034 680 842 895

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