Is the Murcia Property Market on the Up?

saucony trainers Recent reports indicate that there are signs of stability and even growth in the Spanish property market. The region of Murcia has had a part in this. During the global economic meltdown in 2008, the Spanish property market was particularly badly affected. House prices spiralled downwards for several years, but it is now generally agreed that this probably bottomed out in 2013. There is a large overhang of supply, with many repossessed and unoccupied properties especially in regions like Murcia which saw a lot of building in the early 2000s. However, in more positive news, the number of unoccupied and unsold homes in the Murcia region was reported to have dropped during 2014 by over 5% from the previous year. This indicates that although growth and recovery may be slow, it is steadily begiing.

The strength in the Mediterranean regions may be explained by the statistic that over 13% of all property purchases in Spain were made by international buyers looking for properties in the sun. Of these, the highest proportions have gone to northern European purchasers, most notably from the UK, but also from France, Germany, Sweden and Belgium.

salomon uk In a wider context, these signs of growth are backed up by an increase in GDP over the last year, showing greater strength in the economy. However, unemployment remains high at twenty two per cent. Overall the indication is that stability and recovery are begiing, but that it is likely to be a slow process.

saucony shadow 5000 However, these small shoots of recovery are good news for the Spanish property market and indeed the Murcia property market, for which stability, let alone recovery, has felt like a long time coming. It's also worth considering that this region is still very much a buyers market, with some real bargains to be found which may prove to be excellent long term investments.