All posts by spanish_property

Murcia’s tourism dreams move a step further

They said it would never happen (and it still might not) but the opening of Corvera Airport is imminent and a major cash boost has been promised for the Paramount theme park in Murcia, South-East Spain.

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The long-running linked sagas of Corvera Airport and Paramount theme park in Murcia, Spain, have moved further slow steps towards reaching a happy resolution. Earlier this week Alberto Garre, President of the Region of Murcia said the arrival of the high-speed AVE train and opening of Corvera International Airport “in 2015, if possible, would become reality”. With the theme park meanwhile, the announcement of a €16million EU subsidy had the online forums buzzing. This was later clarified to say it would be paid following construction of the development scheduled to cost the developer, Premursa, in excess of €200 million.  The European Commission said in a statement that the area was “entitled to receive regional development loans,” and “We have arrived at the conclusion that the positive contribution of the measure to favour local development would outweigh the competitive situation created by the private company being given state aid.”

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Chris Mercer, Director of local estate agent Mercers Ltd, said: “Since Murcia was chosen as the location for the Paramount Park back in 2010, the path to realisation has been chequered. Following a symbolic stone-laying ceremony in 2012, and recent small-scale work on access roads and land clearance, the site has been relatively quiet. The focus has been on planning permission, environmental assessment and, most important, attracting foreign investment. Opening dates have been gradually pushed back from 2015 to 2017. Naysayers have had their doubts but a €200-million-plus project in a country emerging from recession was never going to have it easy. At least now the signs are the most positive we have seen for a long time.”  Premursa has also prepared some with impressive websites and promotional videos.

ANALYSIS: GLOBAL PROPERTY PREDICTIONS 2012

Spain is another country where there are bargain prices that are likely to stay affordable during 2012. In parts of Spain you can get a new villa for €50,000. There seems little doubt that for those with the many Spain looks like a good buy in 2012. One area that a lot of people are talking about it Murcia where the new ParamountTheme Park is due to start construction in 2012.

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International Visitors to Murcia up 8.1% – Way Over National Average

ROD153 Camposol Golf 128,000€ Mercers www.spanisproperty.co.ukMurcia greeted 342,054 foreign tourists in the first several months of 2013, up 8.1% on the very same period of time the previous year. 25,589 more visitors have so far picked the region for their holidays in 2013, with all the French and British leading the charge.

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No Recuperation in Spanish Property Market Until Banks Relax Mortgage Lending

spanish_property_rentalsThe headlines shout ‘foreign boom’, foreign buyers snatching up Spanish property at a rate of knots, but Murcia agent Mercers says if banks continue to be tight with their loaning, full recuperation of the property market is a long way off.

 

Chris Mercer, Director of 30-year established Mercers, says, “The greatest loan-to-value for non-residents in Spain today is around 60%. However, the client must also pay 15% of the purchase price in taxes and fees so, unless you’re purchasing a bank repossession where they may lend up to 100% or more, you really want easy access to around half the money to buy a Spanish property. This debars a large number of people who require larger loans.”

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