Demand for property in Murcia has surged by 78 per cent this year, according to one search engine..
The region has long been mooted as the fastest recovering area in Spain, with the upcoming international airport and Paramount theme park boosting its potential for property investors. But interest in the region's real estate has already started to grow on the overseas portal, with enquiries betwee...
n March and May this year 78 per cent higher than the three months from December to February.
The increase in interest follows official reports that property sales across Spain have risen too. Although down on the year on year rate, real estate transactions grew by 21.9 per cent in the first quarter of 2012 compared to the last quarter of 2011, the Spanish College of Property Registrars revealed this week. This boost in sales has been attributed to the country's "intense lowering" of house prices, as holiday homes become even more affordable for international buyers.
Spain's financial woes and historic bank bailout continue to dominate news headlines, but the country's unemployment has also driven rents up, with rates growing by 0.7 per cent in April compared to last year. Now, investors are looking to take advantage of the falling prices and higher rents, and Murcia is one their main targets.