Monday, July 28, 2008

Investors eye thriving Murcia property market

Overseas property buyers could find a number of good investment opportunities in Murcia, experts have revealed.

Spanish Property Insight has stated that Spainish property market is very much alive and investors are looking for the best locations in which to invest. The report revealed that Murcia is the best performing market in Spain with 10.7 per cent annualized growth in contrast to worst performer Alicante at 2.1 per cent.

Recently the Telegraph has reported that the Murcia region's property market is expanding at a significant pace and is likely to keep growing. The house price inflation rate in the region is compared favourably with a number of emerging markets, for example the Cape Verde islands. The publication further stated that high-end properties such as luxury villas are still comparatively cheap, with some priced for less than £200,000.

Homes Worldwide cited the Government official statistics that the number of Brits registered as permanent residents of Murcia has increased from just over 1,000 five years ago to more than 17,000 last year. The coastal towns of Murcia region such as Los Alcazares and Cartagena are increasingly getting popular with British retirees.

Homes Worldwide attributed many reasons for the surge in popularity and one of them is improved accessibility, such as direct flights from the UK to San Javier Airport. The recent news that Corvera in the Murcian region will see construction start on a new international airport later this year has brought more investment interest into the area.