Murcia 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.
When a decade-long building binge came to a magnificent end in 2007/8, Spain fell from grace in the eye of the property investor. However an uplifting u-turn is underway with industry experts now calling the nation a “star market”.
The 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.”
Camposol, which translated is countryside in the sun, is a substantial rural development based around an eighteen hole golf course. The development has more than 5000 homes, a hotel and spa complex, numerous shops, bars and eateries, together with key facilities for example a health centre and banks. Camposol is ideal for both a second home and holiday property, or for full-time occupants. There’s an array of dwellings to choose from, from low maintenance apartments to substantial villas with private pools. There are approximately 3500 long-term occupants, mostly British, but in addition a good number of Spanish and Europeans enjoy homes here too. Mainly because of the large amount of permanent occupants a genuine local community has evolved, with a variety of clubs, charitable groups and social groups having been established.
Obtaining a home in the sun is a dream of many. The Camposol development on the Costa Calida inside southern Spain is a really affordable situation of making that a authenticity. Camposol property has a lot to offer, with something for everybody, be it a low maintenance holiday accommodation or a villa with a pool for long-lasting residence.
Once the Hamiltons purchased their unique holiday home in Camposol Golf on the Costa Cálida six years ago, they had no aspirations for gathering a property portfolio. Nonetheless, combining Barry’s impending retirement and reports of a Paramount-branded Theme Park inspired them to benefit from the current buyers’ market and acquire one additional property in Camposol Golf.
Back in January, Murcia-based estate agent Mercers boldly declared a estimated twenty five per cent boost in house sales for 2013 over 2012. With quarter 1 indicating just that, up twenty five per cent for the first 3 months of 2013 when compared with 2012, the prediction is on track to becoming reality.
Chris Mercer, Director of Mercers, says, “I can’t pinpoint exactly why our sales are up so much, but impetus is certainly beginning to build. It can’t be caused by an end-of-year dash before VAT on new builds went up from 4% to 10% on 1 January, as all of our sales have been resales. Additionally, enquiries haven’t increased at the same level but those we have tend to be serious, have the funds on hand and are intelligent enough to understand that the window of opportunity on a serious Spanish property discount isn’t going to be open forever. Lastly, compare Q1 2013 with Q1 2011, and Mercers’ business is up close to 65%, quite some margin. Needless to say we’re revelling in the positivity.”
Paramount Murcia Entrance
Paramount Park information continues this week as the Minister of Tourism and Culture, Pedro Alberto Cruz, expressed yesterday at the the presentation of the Easter Mining Union, the posterity of the Paramount park “I speak with full knowledge of what I say.”
He accepted that the first step of erection was slowed by two months, which was due to the authorization of the City Council special plan Alhama. “In about two weeks, work will start.” when asked about funding, Cruz said that both the leaders of Paramount as the local supporter, with that I meet weekly, are calm, “Jesus Samper has several alternatives for raising the necessary funds.” Continue reading
SPAIN needs another golf course development like Bourton-on-the-Water, needs another tea shop. The country is positively congested with these reminders of Spain’s boom years and many of those who have already bought are less than happy. Angry British golfers have complained of broken contracts, substandard homes and lack of promised amenities.
As the credit crunch bites, buying a golf home is probably the last thing on your mind. The ultimate luxury purchase, traditionally a golf home has been the preserve of the cash rich, yet for those ofus with shallower pockets, this may just be the time to bag a bargain and where better to hunt than in Portugal and Spain?