Property prices in Southern Spain
Spanish Property Company Hacienda Golf Properties believes prices are firming in Southern Spain
Hacienda Golf Properties, a company that is based in Hacienda del Alamo and specializes in Murcia properties believes that as a result of improving economic conditions in the UK Spain and selected other Eurozone countries that prices for Spanish property will start to firm soon.
Further expected price reductions from Sareb – Spain’s new bad bank may create some selected price declines but these are according to John Green managing Director of Hacienda Golf Properties, likely to be offset by the increase in demand, Green went on: “we have seen enquiry levels increase throughout 2013 and unlike 2012 this has resulted in a significant increase in sales this year, there are numerous syndicators to suggest this trend will continue and sales growth will increase”
Some examples of the background to these assumptions are:
·5 years of pent up demand for overseas property
·Spain remains the number one destination for holiday homes across Europe
·Consistent and year around sunny climate
·Recent announcements in Spain and the UK (Spain’s larges buyer of overseas homes) that both countries are now out of recession
·Prices at an all time low and the general belief that we are at the bottom of the price curve
Additionally and on a local Murcia level:
·Plans for the new Corvera airport to be opened in 2014
·Building work for the new Paramount theme park – €72 million contracts awarded 31/10/13.
·Numerous golf resorts across Murcia with significant excess housing stock
According to Green these factors are already leading to some attempted price increases on selected new properties in Murcia and barring some unforeseen events this should logically result in the price of Murcia property starting to firm in the coming years.
Additionally given the improvement in outlook the attitude of individual sellers of resale homes will change towards waiting for a better price in the belief that prices will increase and therefore individual bargains will become more difficult.
Luis De Guindos, the Minister of Economy and Competitiveness of Spain has claimed that the official statistics on Spanish property devaluations are not accurate.
As the new article noted, although the statistics claim that prices have fallen an average of 30 percent, both homeowners and people in the property business know that this number is closer to 50 percent. De Guindos also stated that he believes that “some segments of the Spanish market have bottomed out, in line with the wider economy.”
Interestingly, as an article in the UK Daily Telegraph mentioned, Microsoft founder Bill Gates recently bought a stake in the Spanish construction and services group FFC worth over 113.5 million Euros. Gates’s purchase caused speculation among local residents that it may prove that the market is improving.
For further information and to view some of the bargain properties in Murcia go to:
About Hacienda Golf Properties:
Hacienda Golf Properties SL is a Spanish Limited company based at Hacienda del Alamo in Murcia, South East Spain. They are specialists in golf and property in the region of Murcia
For more information, please visit https://www.hdagolfproperties.com/