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.
Monday, July 28, 2008
Overseas property buyers could find a number of good investment opportunities in Murcia, experts have revealed.
Monday, July 21, 2008
UK holidaymakers continued interest in Spain has helped boost passenger numbers at a British airport.
According to BAA Scotland, services between Edinburgh Airport and Alicante attracted strong demand from tourists as increasing number of people in England is keen to venture to sunnier climet over the winter season. The Edinburgh Evening News has reported that this have contributed to the Scottish transport hub experiencing the busiest season in its history.
Rick Green of Flyglobespan has said that Alicante and Malaga routes proved to be extremely popular among British tourists last year and he is expecting high demand again this winter.
The airport authorities have said that the number of people passing through Scottish airports has increased this year. Passenger numbers increased by 1.5 per cent on a yearly basis and is 859,000 in the month of June. Official figures showed that last year, more than 9.1 million passengers passed through the portals at Edinburgh airport. Robin Hood Airport stated that the number of passengers who passed through its doors has increased over 12 percent.
The findings indicate the growing popularity of Spain as a tourist destination, a trend which could boost its standing among overseas property investors as well.
Thursday, July 17, 2008
Murcia is the capital of the Autonomous Community of Murcia and it situated in the South East of the Iberian Peninsula. The region has an area of 11,317 km2 and is the largest autonomous community of only one province in Spain. The metropolitan Murcia is the seventh largest city in Spain and it spreads over 881 km2 which includes the urban quarters, the downtown centre, its old quarters as well as the 54 pedanías (suburban districts) and 28 barrios (city neighborhood districts). According to 2009 census figures, Murcia with a population of 436,870 inhabitants is the seventh most populated city in Spain.
Given its proximity to Mediterranean sea, Murcia is not only known for its beautiful beaches, but also for a great number of natural beauties still to be discovered. It is specifically its natural charms and diversity that makes Murcia outstanding from other regions. The region has a mild weather year round with very little precipitation and the diversified ecological landscape attracts visitors into an incredible state of well-being.
Geographically, the region is divided into two very different areas: the Huerta, the low lying fertile plain on the banks of Segura River and its right-hand tributary, the Guadalentín and the dry countryside, situated to the South, Northwest and Northeast of the region. The Segura River crosses Vega Media del Segura, an alluvial plain and runs through the city from west to east. The river is known to produce occasional flooding although its volumetric flow is mostly less. The river is acknowledged as one of the most polluted rivers in Europe. The Sierra de Orihuela and the Cresta de Gallo mountain ranges surround the region of Murcia. The city itself is separated into eastern and western zones by Carrascoy, Villares, Columbares, Altaona, El Puerto, and Escalona mountain ranges.
HistoryMurcia's name is suggested to be derived from the Latin words of Myrtea or Murtea, which means land of Myrtlr (the plant is known to grow in the general area), while it may also be a derivation of the Latin word Murtae (Mulberry), which covered the regional landscape for many centuries. Abder raman II founded the city of Murcia in 825 and the Moorish planners, took advantage of the course of the river Segura, created a complex network of irrigation channels that made the town's agricultural system prosperous. Murcia was the capital of the Moorish kingdom and the current structure of the city and the outline of the streets are the result of its Moorish heritage. Murcia joined the Castillian crown in 1266.
The city enjoyed a time of great splendor from the second half of the 13th century. The King Alfonso X the Wise instituted the socio- economic bases of the municipality. The monarch gave several privileges to encourage commerce and harmony amongst the different cultures and religions living together. The famous Acts of the Huerta were passed in the 15th century, considered to be the forts and possibly the only rural Spanish code. The irrigation system in the Huerta was nearly comprehensive and the trades, which today give their name to the streets of the historic quarter, were prosperous. The periods of political stability during the 16th and 17th centuries were sympathetic for cultural and economic development. Silk trade continued to be extremely important.
During 18th century that the city became truly marvelous and it is known as the Murcian Golden Age as great urban and administrative changes took place. The War of Independence in the 19th century caused instability in the region and the radically changing politics during the wars between the "Carlistas" and "Isabelinos” caused further confusion. An age of renovation and vigor began with the creation of the law faculty in 1915. The city, with its solid political and socio- economic base, saw a spectacular growth in the last decades of the 20th century.
ClimateThe region of Murcia has a "semi-arid Mediterranean climate", with mild winters and warm to hot summers. It averages more than 300 days of sunshine per year with heavy rains where the precipitation for the entire year will fall over the course of a few days. The average daily temperature range during winter is a high of 16 °C (61 °F) during the day and a low of 4 °C (39 °F) at night. The average daily temperature in summer goes from 30 °C (86 °F) during the day to 20 °C (68 °F) at night. Murcia's peak summer temperatures often exceed 35 °C (95 °F).
Important contact nos:Tourist Information Centres:
- Belluga 968 35 87 49
- C/ Santa Clara 968 22 06 59
Murcia Convention Bureau
968 34 18 18
Auditorium and Congress Centre
968 34 10 60
Historical Archives of the City
968 35 86 00
968 35 86 00
968 35 51 70
Public Transport LAT
968 25 00 34
Tuesday, July 15, 2008
Spain is described as the "overall hotspot" for European holidaymakers and overseas property investors in Spain are benefiting from an increase in the number of tourists.
Statistics cited by Reuters showed that 59.7 million leisure travelers visited Spain during 2007 which is 2.2 per cent more than the previous year. Jose Luis Zoreda, executive vice president of Exceltur has predicted further increase and added that 60.7 million tourists will be visiting Spain in 2008. This indicates that strong demand for rental accommodation thus boosting the potential for overseas property owners to get strong returns on their investment.
Research by FutureBrand found that tourists from other countries are visiting Spain for its "pulsating" nightlife. Major cities such as Madrid, Barcelona and Valencia are found to be highly rated by consumers because it met all the criteria outlined in the survey, such as affordability, good quality accommodation and good selection of clubs, pubs, discotheques and bars.
Nightlife in Spain is quite exciting and lively with people rocking and rolling at the night clubs and discotheques. The best part of Spanish nightlife is that it not only refer to boozing and partying in the bars but nightlife also refers to people go out for a dinner with their families, hang out and enjoying with fun, food and drink coffees and Sangria at the road side cafes till the dawn.
Enrique Ruiz de Lera, director of the National Tourist Office has stated that he is very much pleased with the poll verdict. Spain's high-class leisure attractions, good quality housing, services and amenities are continuing to attract overseas property buyers.
Sunday, July 13, 2008
The vast number of pristine beaches and its all-year-round good weather makes it an ideal choice for property investors as it has the benefits of the long-term Spanish rental market. The occupancy rates on Tenerife property will be between 80 and 100% allowing investors to make rental yields of 10% depending on how much they use it for themselves.
The Spanish government is encouraging the property market in Tenerife by introducing a number of new financial incentive schemes. Capital appreciation is likely to be around 10%-15% per year.
Tenerife's subtropical climate coupled with the tranquil atmosphere and relatively cheap living costs make it an ideal place for holidaymakers and retirees. Tenerife Property World has reported that more people re-visit Tenerife on holiday than any other European destination.
Overseas investors looking for property in Tenerife could benefit from buying off plan property, according to the website. Property expert Liam Bailey has stated that Investors in Tenerife property can feel secured of their investment as they can use or rent-out straight away as it is considered as a safe established market which also has a high quality infrastructure making the property easy to market for holiday rentals.
Wednesday, July 9, 2008
The Spanish government tourist officials are keen to attract more holidaymakers from India. Marketing campaign specifically aimed at Indian consumers is underway.
The National Tourist Office (NTO) of Spain has revealed that it wants to increase the number of Indian consumers visiting Spain. Enrique Ruiz e Lera, spokesperson for the NTO, stated that 55,000 Indian holidaymakers visited Spain in 2007 which has actually doubled from 26,000 visitors in 2005.
Mr Ruiz e Lera said the tourist numbers is not important to NTO and it has different priorities. NTO has aims to attract high-end Indian travelers who have "sophisticated" tastes and have outlined their intention to attract affluent visitors to the region.
Joan Gaspart, president of the executive committee of Turisme de Barcelona held in 2005 in New Delhi, has said that talks with airline companies to begin direct flights from India to Barcelona and to endorse the city as a stopover destination for connecting flights to USA and other European destinations are in progress.
This means that Spain could potentially see an influx of extra holidaymakers in the near future. This is likely to be welcomed by owners of rental accommodations in popular tourist areas, as it will lead to more demand for their services.
Government's official data revealed that the country attracted a total of 59.2 million foreign travelers last year. Spain is regarded as Europe's most popular short-break destination and this entices holiday home buyers and rental investors to consider making a purchase in the country.
Sunday, July 6, 2008
Property experts have suggested that overseas property Investors could find a number of good investment opportunities in Aragon. The national average figure for foreign homeownership in Aragon is about 9% and it is fast catching up with the national average of 12%.
The property market in the provinces of Zaragoza, Huesca and Teruel in Aragon region is expanding at a considerable pace and is likely to keep growing. The rate of house price inflation in the area is compared favourably with a number of emerging markets in other parts of Spain. This means that investors could potentially make a substantial profit should they come to sell up their property in the future.
The official figures from the Ministry of Housing in Spain revealed that the Zaragoza province enjoys the highest property prices out of the three Aragon provinces with median values being about 13% above the national average. The development of a high-speed rail link from Madrid to Zaragoza could also serve to attract foreign property buyers to the area. Luxurious four-bedroom villas are still relatively cheap, with some priced for less than £200,000.
Teruel province is under priced when comparing with the national average with prices about 37%. Overseas property investors are advised to look for properties in Teruel as it offers a wide choice of homes at affordable prices. The properties are being sold at reduced prices and the conditions are ideal for those who want to buy a flat or house in Teruel province.
Estate agent Brad Johnston said that people are continuing to enter the Spanish market at a high rate and he added that prices will be spiraling upwards if an anticipated five million European move to Spain in the next five years. The government’s official figures have stated that net migration to Spain stood at 15.0 migrants per 1,000 of the population which is above the EU average of 3.7 per 1,000.
Thursday, July 3, 2008
Paul Collins, property editor at BuyAssociation, said that conditions for overseas property investors in Spain should improve in the future as it tends to go in cycles.
Terry Walker from PropertyinSpain.net stated that only the coastal parts of the country have become oversaturated in recent years such as the Costa del Sol along the coast, other areas have not yet been tapped into. Many investors are looking to buy a residence further inland and they could snap up potential bargains before mass tourism increases prices in these regions.
Mr. Walker further said that 'real' Spain with welcoming villages and bargain properties still exist and in this "long-established market" property investors cannot possibly "lose out". The Association of International Property Professionals (AIPP) stated that in times of global economic crisis, established locations like Spain remain popular with foreign investors.
Travel writer Stephen Morgan praised the country, describing it as a "lifestyle destination" as it offered many benefits to overseas investors such as good climate, beaches and attractive scenery. This marks a sharp contrast with many emerging markets across the world, as many of them are considered as pure investment spots rather than places to enjoy the change in lifestyle.
According to the Spanish Property Owners Guild (Spog), the downturn in Spanish housing market is ideal for those who want a property for personal use. The drop-off in housing prices as vendors wants to sell their stocks means that buyers may be able to purchase a house at a bargain price. Property experts believe the market will pick up again as it is cyclical and lead to resurgence in property values.
Tuesday, July 1, 2008
Beatriz Corredor, Spain's minister for housing, in a radio interview said that this is a good time to buy property in Spain, as prices are only rising in line with inflation. Corredor also pointed out that some developers have dropped their prices, making this a perfect time to buy a newly built property.
However, she said the available level of supply is exceeding demand. Therefore, she has suggested that organizations who are selling property to "change their prices" accordingly in response to market conditions. Properties are currently being sold for less as a result of the recent downturn in the market. However, property experts believe that the market will pick up again and lead to a resurgence in property values.
The ministry of housing has revealed that the cost of Land in Spain fell to 251 Euros/m2 in March, a 7.7% drop compared to the same period last year. The official statistics shows that land prices are falling faster than house prices. The average land costs in Spain are now back to where it was in 2004.
Telegraph has reported that the glut of properties forced developers and vendors to sell property in Spain at a discount. Property experts suggest that those who invest shrewdly will reap the rewards once the credit crunch is over and the market begins to recover.