Property prices in Murcia see biggest rise in nine years as sales soar.
09 September 2016
The latest figures from the Official College of Property Registrars of Spain report that sales of residential property in Murcia rose 22% year-on-year in Q2 2016. Around 12,435 properties were sold in the region in the 12 months leading up to the end of June, making Murcia one of the best performing property markets in Spain.
According to Spanish registrars, almost one in seven property sales agreed in Murcia in Q2 2016 were to overseas buyers. Brits made up almost a fifth of these buyers, followed by buyers from Germany (7.4%), France (7.05%), Sweden (6.95%), Italy (6%) and Belgium (5.6%).
The steep increase in demand, amongst both international and domestic buyers, has contributed to a rise in property prices in the region. In the 12 months up to the end of March 2016, property prices in Murcia saw an average year-on-year increase of 2.9%; the sharpest rise in nine years according to Murcia Today.
The positive news for Murcia is not limited to the property market. Increases of 8.73% in vehicle registrations in August, a 10% decline in unemployment in the past year and a 30% year-on-year decline in mortgage foreclosures reported in Q2 2016 all highlight Murcia’s increasing economic success. This is of little surprise, as areas which improve economically typically see increases in property sales and prices, as buyers look to ‘get in on the action’.
Historically, Murcia has appealed to buyers seeking more affordable property within a less built-up area. While more developed areas like Benidorm and Benalmadena have arguably become overdeveloped with high-rise buildings in an attempt to accommodate all of the tourist visitors each year, Murcia has maintained much of its authentic charm and tranquillity.
Murcia is also popular for its golfing facilities; with resorts like La Manga Club providing some of the highest quality golf courses in all of Spain.
Upcoming plans to build Europe’s largest theme park and a brand new airport will increase the attractiveness of Murcia as a holiday home destination, providing even more reason for property hunters to buy in this region.
Murcia’s flagship resort, La Manga Club is renowned as Europe’s best sports and leisure resort, with famous sporting faces regularly amongst the crowds of visitors which have flooded the resort each year since it first opened in 1972.
With three 18-hole championship golf courses, a 28-court tennis centre, 2,000m2 spa & fitness centre and a professional football centre with 8 FIFA standard pitches, La Manga Club truly offers something for everyone.
Alongside the outstanding resort facilities, La Manga Club also offers both residential and investment properties; off-plan luxury villas and built, habitable apartments. All of these properties benefit from Murcia’s increasing popularity and, with prices rising steadily, offer unrivalled capital appreciation potential.
If you’re interested in owning a property in Murcia, contact a member of our sales team today on +44 (0)1202 765011 or email [email protected] for more information.