Known for its captivating mountainous scenery and spectacular sunshine, Murcia is one of Spain’s most popular expat locations and a popular spot for those looking at buying a property in Spain. From the baroque buildings oozing with charm to the mouth-watering cuisine dished up at corner cafés across the region, here is our guide to buying a property in Murcia and why the region is the perfect place to find your very own home in the sun.
Buying a holiday home somewhere in the world is a desire of many. You can holiday whenever you want and for as long as you want, which is especially great for retirees hoping to spend half of the year abroad.
Whilst you are away you will feel comfortable, at home, and since your family will only have to pay for flights, it means they can use the money they save on accommodation to come and visit you again and again!
But where do you begin looking? There is no better location for buying a holiday home than Southern Spain.
Buying property in Spain means buying into a country with pleasant temperatures and ample sunshine all year round, so if you want to flee the bleak English winter for six months, you can enjoy averages of 12°C between December and February. You will also have guaranteed hot weather for all of your summer visits.
We are really proud of our new Costa Calida / Mazarron / Camposol video.
It has taken us many months to film and edit. The film shows the various fishing villages in the Bay of Mazarron, including La Azohia, Isla Plana, Puerto do Mazarron and Bolnuevo.
We also have interviews with residents of Camposol.
The link to the film is on the bottom of our home page and simply click on the big red button.
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.”
Contractors have been appointed to start work this Summer on building the new Paramount Theme park. This is fantastic news for the region and especially Mazarron & Camposol.
After 5 years of decline it appears as though Spanish property prices might have bottomed out. When the credit crunch hit the Eurozone in 2007, 700,000 homes fell to the Spanish banks. Within the Murcia area in 2007 an average price for a property was EUR 147,000. This decreased annually to EUR 45,000 in 2012, meaning some properties were actually being sold at 70percent lower than their maximum prices as banks were pressured by the European Central Bank to rebalance their books and clear away under-performing property resources. But, it appears as if average prices in 2013 are going to go up to EUR 55,000, indicating that the market may have bottomed out.
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.
January 22, 2014 in Europe, Featured News, Government and regulatory, Lifestyle & Leisure Properties, Market Trends, New Developments, News, News By Region, News By Topic, Politics, World News Leave a comment
Experienced agent in Murcia says sales rose 60% in 2013, and construction of a long-promised theme park brings big hopes for future