Demand for property in Murcia surged by 78 per cent this
year, according to TheMoveChannel.com.
The region has long been mooted as the fastest recovering area
in Spain, with the upcoming international airport and Paramount theme park
boosting its potential for property investors. But interest in the region’s
real estate has already started to grow on the overseas property portal, with enquiries
between March and May this year 78 per cent higher than the three months from
December to February.
The increase in interest follows official reports that
property sales across Spain have risen too. Real estate transactions grew by
21.9 per cent in the first quarter of 2012 compared to the last quarter of
2011, the Spanish College of Property Registrars revealed last week. This boost
in sales has been attributed to the country’s “intense lowering” of house
prices, as holiday homes become even more affordable for international buyers.
Spain’s financial woes and historic bank bailout continue to
dominate news headlines, but the country’s unemployment has also driven rents
up, with rates growing by 0.7 per cent in April compared to last year. Now,
investors are looking to take advantage of the falling prices and higher rents,
and Murcia is one their main targets. During May so far, the region’s enquiries
on TheMoveChannel.com are already 45.2 per cent above last month.
And a development launched this week in Murcia’s most-visited golf resort is set to make them climb even higher.
Las Lomas Village, with prices below 50 per cent of the
market’s peak value, is a chance for investors to make the most of the high
yields that come with having La Manga Club next door. Owners are guaranteed 35
per cent of the gross revenue for the village, explains the development’s
agent, UK Murcia Investment, while operating costs are covered by management.
In addition, buyers get 30 days usage per year at no extra cost.
As well as La Manga Club’s famous fairways, Las Lomas boasts
its own golf facilities, plus 8 football pitches, 28 tennis courts, a hilltop
spa, swimming pools and an on-site beach.
Released directly from the bank, the heavily discounted
apartments (both studio and two-bedroom) are eligible for up to 100 per cent
financing, meaning that a total capital outlay of only 12,000 to 15,000 euros is
needed to invest.
Too good to be true? Not so, says UK Murcia Investment. Even
TheMoveChannel.com’s Managing Director Dan Johnson has decided to invest.
Johnson explains why the deal turned his head: “As a
fan of sports, sunshine and the odd glass of sangria, these fantastic
properties at La Manga tick all the important boxes for me. Dig into the deal
and it just keeps getting better and better. A solid management package
delivers good rental income from day one, while a really generous usage scheme
lets you regularly enjoy the resort with family and friends.”
“I have no hesitation in recommending this deal,” Johnson
adds. “I’m even buying a unit myself.”
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