Murcia City Is Spain’s Promising Star in a Bottoming Property Market

March 1, 2011 - PRLog -- Despite falling home prices, interest in Spain’s property market is on the rise — from both the developing to the buying ends, according to recent reports. This may be good news to many UK investors who are looking at the bright sun of Spain to take them away from the cloudy England weather.

Many experts have commented that Spain’s market has finally bottomed out, with home prices dropping 50 percent in some regions, reflecting the same price tags it saw nearly a decade ago.

Holidaymakers looking at the chance as fortuitous though and are taking note of these great deals. Last year more people from the UK took out more foreign mortgages in Spain than in any other country. With homes along popular coastal regions being sold fully furnished, investors are seeing an investment to be made by buying and renting out the properties to other Britons and Europeans on holiday.

Developers and resorts are also feeling confident in Spain’s property and tourism markets, as construction has picked up and many new projects are in the works — especially in Murcia City, just south of Valencia in Costa Blanca. A new international airport in the area, slated for completion this summer, is expected to triple the number of tourists there to 3 million a year, while creating 20,000 jobs and 15,000 hotel beds, according to recent reports. The city should be a great draw, experts say, as it boasts the warmest temperatures in the country and has year-round sunshine.

Murcia will also be the home to the new Paramount theme park, which hopes to attract families near and abroad as well as create jobs in the area. The Costa Blanca region, like much else of Spain, has experienced growing unemployment rates in recent years, and once those numbers are under control, experts believe the property market will also stablise.
For more information go to http://www.buyassociation.co.uk/property/text/spain/buyas...

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