According to independent industry experts, Murcia is the best place to invest in Spain. The Move Channel compiled data from across its network of property websites to find that the south-eastern Murcia region of Spain is the most popular amongst prospective property buyers.
The Move Channel Director, Dan Johnson explained, “Spain remains the number one country in terms of enquiry volume to the site (August 2011) but we have seen a rise in searches for property in Murcia province and the Costa Calida in particular. When compared to other well-known coastal destinations such as the Costa Blanca or Costa del Sol, the Costa Calida represents good value for money with ample distressed and bank repossessed stock available to purchase at heavily discounted rates.”
It has been suggested that the value for money is the main reason behind why Murcia is so popular amongst potential property buyers. Kyero’s latest Spanish House Price Index highlights that the average asking price for property in Murcia is 62% less than the national average.
As the market begins to pick up, it’s thought that Murcia is set to witness some of the country’s property price growth. Not only does it offer some of the lowest prices in Spain but the projected tourism growth will significantly affect property values over the next few years. This region is the chosen destination for Paramount’s planned Theme Park which will be Europe’s largest Theme Park upon its completion; rivalling Disney Land Paris and attracting millions of visitors every year.
“There are superb opportunities for investors to purchase repossessed property and distressed developments direct from the bank at bargain prices. This coupled with future growth in tourism to the region and the 50 per cent reduction in IVA (equivalent of VAT) until the end of the year makes this the ideal time to buy in Murcia.” Mr Johnson concluded.
Source: The International Business Times