My cousin has been looking to buy a property in Spain. She did have one on the Costa del Sol when she was with her husband but, when he went, sadly the villa went with him.
She just spent a fact-finding stay in a rented villa in Murcia and was very pleasantly surprised. Prices are a lot cheaper than they are on the Costa del Sol and Costa Blanca and properties seem to be better prepared and maintained. Perhaps the Murcia region has learned some of the lessons from its better known neighbours.
Jilly flew into San Javier airport which is only 15 minutes from the key resorts. Alicante airport is bigger and offers more flights but is a bit further away. There is also a new regional airport at Corvera planned to open in 2012 or 2013. Clearly, the investment is there and the region will undoubtedly grow. The current signs are that the growth should be more restrained and better controlled than has been usual in Spain.
Jilly made the usual mistake of expressing an interest in buying a property. Surprisingly, she was not deluged by agents and vendors. OK, there was activity but nothing like that she had experienced in the other areas. Overall, she said it seemed quite classy and sophisticated.
Certainly, the region has a lot going for it. There are the usual first-class golf courses but also signs of strong inward investment from financially stable organizations with track records in France and Germany. Interestingly, many of the 'potential buyers' were from Germany and Scandinavia rather than from the more traditional UK market.
Of course, it is difficult to tell much from just one visit but Jilly saw enough to be going back later in the year. She thinks there is a window of about a year before prices start to rise significantly.
So, watch this space, as they say.
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28 August 2011, 04:47PM
Spain certainly needs a new area of growth and regeneration. We bought there years ago and so much of the area has declined and failed to live up to its initial promise. Spain has gained a bad reputation, which is a shame, as it does have a lot going for it.
It will still be location, location but selecting that location requires a lot of thought. It goes beyond choosing a resort for a ski holiday.
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