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.
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
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.”
2013 seems set to become a great year for Spanish property. Most recent reports summarising property sales and rental stats from government and independent sources, indicate that the second half of 2012 observed a rise in worldwide customers aiming to snap up value for money property stock. And there’s several reasons why now’s a good time.
Nestled amongst a bevy of exotic Latin American locations, there was a surprise entry into the World’s Best Real Estate Markets 2012 – Murcia in Spain. Created by the boffs at International Living, the index takes into account value for money, appreciation potential, income potential, costs and ease of buying and believes Murcia has got what it takes to make you money in 2012._Chris Mercer, Director of Mercers, a real estate agency based in Mazarron at the heart of Murcia, comments, “Finding ourselves amongst a who’s who of emerging nations, the likes of Brazil, Mexico and Uruguay, is flattering but not altogether unsurprising.
The Spanish government has been edging along a political tightrope as UK buyers put the brakes on their aspirational holiday home purchases. In a country whose property industry accounts for well over 10 per cent of its gross domestic product, the decline in the housing market has had grave repercussions for tourism and the economy. Steady reports of agents and developers going bust, migrant workers being laid off and major developments being postponed indicate that it’s not just foreign buyers feeling the bracing effect of Spain’s property slump. With some agents offering dramatic discounts – in some cases, two for the price of one – to revive flagging sales, unemployment and property devaluation are two of the major concerns now faced by developers and municipal governments alike.