Who buys real estate for investment in Murcia, Spain?
Murcia in Spain attracts millions of visitors from all over the world. Most of them decide to buy real estate there. Who are these people and what makes them invest in Spanish property?
Murcia region is located in the south-east of Spain and includes a Mediterranean coastline of about 150 kilometers which is called Costa Calida.
This explains the great interest of Spaniards and foreign tourists to buy real estate in Murcia. The Murcia region is now considered one of the most promising areas for buying property in Spain: prices apartments in Murcia are lower than in other resort areas, while there is an active construction and development of resort infrastructure.
All of which means that buying a house or apartment for your holidays in Murcia could now be a very wise and profitable investment.
Why do foreigners choose to buy an apartment in Murcia?
Murcia in Spain is famous for its breathtaking nature, resort lifestyle, and great resort opportunities. Among the most compelling reasons to buy property in Murcia are the following.
Loyal attitude to foreign investors
There are no restrictions on the location or type of property. You can buy an apartment for cash or take a loan on favorable terms.
Relatively affordable prices
Although the prices vary depending on the region, homes in Murcia can be purchased at a reasonable cost. For example, in Alicante it is possible to find an apartment starting from €160,000, in the Costa Blanca and Valencia there are proposals over €170,000. In Murcia, apartments are available starting from €150,000 depending on the footage and location.
The simplified format for obtaining a residence permit
Regardless of the cost of housing, the owner becomes the owner of the right to obtain a multiple Schengen visa. When buying a home worth more than €500,000 you can apply for a residence permit.
Comfortable living conditions
The country has a warm climate, well-developed infrastructure and transport links, and a high level of medicine. Murcia is often called a Garden of Europe because it is a main provider of fruits, vegetables and flowers. Favorable climate all year round offers outstanding conditions for sunbathing, swimming, and enjoying other water activities.
The possibility of making a profit when renting property
Investment for citizens of other countries are not prohibited, although it requires compliance with applicable laws in terms of taxation. A well-chosen housing object in Murcia can bring about 7% ROI per annum. Experts foresee no shortage in potential tenants as the number of tourists increases every year.
What is a portrait of a typical property buyer in Murcia?
According to statistics, men aged 35 to 45 years are the main candidates to acquire square meters in Murcia. They are entrepreneurs looking for good investment opportunities or a comfortable place for vacation near the sea. As a rule, the typical Spanish property buyer is married and has children.
Most foreigners buy housing in the area because they want to be able to spend their vacations on the Iberian Peninsula. Entertainment and leisure are the key motives of foreign property buyers who invest in the Spanish economy today. Many citizens of other countries buy housing in Murcia because of the business or work in the country.
For study or medical treatment, foreign citizens usually choose to rent property in Murcia. But some still buy a home in order to get an education at a local university, and also because they need medical treatment and trust the Spanish doctors.
What type of real estate is preferred in Murcia?
The most popular type of real estate chosen by foreign buyers is an apartment. Spanish apartments are measured by bedrooms, not by the total number of living spaces. The concept of two-bedroom apartments means that the apartment consists of a living-dining room, two bedrooms, a kitchen and one or two bathrooms.
The apartments are located in high-rise buildings (three floors and above). Often, one such house or several houses are a separate residential complex with its own parking lot, park, swimming pool, sports field, etc. Apartments located in Murcia are in great demand among tourists and are a strong competitor for the hotels.
Foreign buyers can find the wide selection of reasonably-priced comfortable apartments on the website Spain-Real.Estate. Housing units of various footage, designs and location are available for investigation. Real estate from primary and secondary markets can appear to be a highly profitable investment. For this reason, it is advisable to monitor the offers carefully and with decent attention.
Could Murcia be the right opportunity for you?
Murcia enjoys great popularity and there is no surprise. A warm climate, spectacular scenery, rich history and profitable housing attracts tourists to this region, those who are planning to live permanently and those who want to earn income from leasing.
To sum up, Spanish real estate can be an incredible investment project with a significant number of benefits. But, as with any investment opportunity it is important to do your own research and spend with caution.