An Expert View on Murcia’s Property Market in 2013

Jan. 8, 2013 - PRLog -- Having sold a very pleasing seven homes in December, a month that isn’t always seen as a buoyant month for buying, Murcia-based estate agent Mercers is very positive about what’s to come in 2013.  

Chris Mercer, Director of Mercers, has notched up 29 years experience in selling freehold Spanish properties and opened his first office in Camposol Golf, Mazarron, back in 1999.  In 2012 he moved to even larger premises on Camposol Golf, a prime frontline corner position in that ironically used to belong to a Spanish bank.  It’s clear he has great expectations for the coming year.  

Chris comments, “Overall Mercers has had a very good 2012, certainly more sales than 2011, around a dozen more.  If the Paramount Theme Park construction accelerates, the Minister of Culture and Tourism has stated that works will officially commence on 15 January 2013, then it can only increase the profile of Murcia and the action will really hot up.  Our new Corvera International Airport is also due to open sometime between spring and autumn 2013.  We have even recruited a new native Spaniard sales person, brought up in Belgium and also fluent in English, to bolster the team.  I boldly expect our sales to increase by 25% in 2013 over 2012.”

For Mercers, foreign buyers have tended to dominate over the past year, mainly Belgian, French, Norwegian, Swedish, with a welcome resurgence of more British buyers over the last three months.  The estate agent is also finally getting some more interest from the Germans and Dutch.  

Chris continues, “Prices seem to be holding steady and offers are not as stupid as they have been.  For example houses priced at 195,000 euros are selling for around 185,000 euros - so sensible offers are being accepted but nothing insulting.  It should be remembered however that, unlike most agents, we do accurately and realistically value properties and will not list a house unless we think it is priced for the market and we can sell it.  Our asking prices are normally pretty close to the selling price - better for the seller, the buyer and us.”

Chris does however see some problems on the horizon.  “The main issue is that bank funding will continue to be a problem in Spain.  If a buyer wants more than 50% loan-to-value and the property is not bank owned, it really is a no-go situation.  This will limit the market to wealthier cash-rich buyers or steer people in the direction of, often less desirable, repossessed homes.  The good news is that the majority of bank owned units in our area of Murcia have now been sold, so next year there will be less and less on the market and the banks can perhaps turn their attention once more to lending on the normal resale market without distraction.”

“As for Spain’s Bad Bank, SAREB, I don’t think it will have much, if any, impact in our area.  95% of our sales at Mercers are of privately owned resale properties to buyers who are either funding the purchase with cash or with finance from their home nation.”

On the Market:
Ref NED165, Neptuno Villa, Camposol Golf, Mazarron, Murcia
Immaculate three bedroom three bathroom “Neptuno Deluxe” villa.  Set on a 670m² private plot, the home has two bedrooms on the ground floor, one a master en-suite and the second a generous twin with built-in wardrobes.  There is also a shower room and guest WC, lounge with feature fireplace, dining area, fully fitted kitchen and a glazed porch - a lovely sun-filled room overlooking the swimming pool and gardens.  The first floor is accessed via an external staircase, ideal for guests, and comprises a double bedroom with en-suite and French doors leading to a large rooftop solarium.  The south-facing grounds are low-maintenance with gravel and mature palm, orange, olive, lemon and nectarine trees, and the pool has a tiled surround perfect for sunloungers.  There is a large unfinished basement area with development potential for additional accommodation, cinema room or gymnasium.  The villa is partly furnished and has central heating and air-conditioning in some rooms.  Camposol Golf has an 18-hole course, four star Spa hotel and plenty of shops, restaurants and bars on site including an opticians, vets, medical centre, hairdressers and a weekly market. The blue flag beaches and marina of Mazarron are within a 15 minute drive.
Price just 190,000 euros (approx 154,000 pounds)
Contact Mercers Costa Cálida on 00 34 968 199 188, UK Local Rate 0845 017 7805, email sales@spanishproperty.co.uk or visit www.spanishproperty.co.uk
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