Why is the demand for real estate in the Murcia region growing?

Research of theMurcia province

In this publication, we explore various aspects of theMurcia region. We pay special attention to issues related to the real estate market, fluctuations in housing prices, and demand for rentals.

Geography and architecture of the region

The main city of the region isMurcia, located just thirty kilometers from the Costa Calida coastline and about seventy-five kilometers from Alicante International Airport. The architectural heritage of the area has largely been shaped by the influence ofMoorish cultureSince in the past, Murcia was a significant center for this people, just like many other southern cities in Spain.

Throughout its history, the city has experienced several periods.prosperitythe most striking features of which can be observed in the magnificent specimensbaroque architectureToday, Murcia holds a respectable position among the ten largest cities in Spain.

Growth of the construction sector

It should also be noted that the construction sector in the region is currently showing significant growth. According to the Association of Architects of Spain, in the first decade of 2018, permits were issued...83,882 permitsfor housing construction, which represents an increase of 23% compared to the same period in 2017.

The province ofMurcia, known for its Mediterranean coastline of Costa Cálida, is showing excellent results, outpacing other Spanish regions with a growth rate in new construction at88%Compared to them, Cantabria and Navarre have different indicators.78%and70%they occupy the second and third positions, respectively.

Housing prices

In the nearby areas ofMurcia, the construction industry is actively developing due to falling prices and a multitude of various project offers. According to statistics for the third quarter of 2018, the cost of one square meter of land in this city was137 eurosthat is below the global average level, which is155 eurosper square meter.

Interest in renting housing

Furthermore, it is worth highlighting the growing interest in rental housing inMurcia, which is becoming evident against the backdrop of an increasing flow of tourists. Costa Calida, also known as the "hot coast," is famous for its climatic conditions that contribute to the region's popularity among travelers.

• The average annual air temperature here reaches20 degrees.
• In January and February, thermometers can show only5 degrees.
• The region can boast more than320 sunny daysin the year.

Climate and tourist appeal

It should also be noted thatMurcia is recognized.the warmest regionIn Spain, the summer season lasts significantly longer here than in other regions of the country. It is quite popular here.mineral springswith healing water and mud that attract both tourists and locals.

Conclusion

Thus, all these factors—from architectural features and climate to the growing interest in real estate—makeMurcia a very attractive place for buying and renting property. This province offers unique opportunities for those seeking comfort and sunny seas, as well as for investors looking to invest in a promising real estate market.

Real estate inMurcia

The province ofMurcia, with nearly 250 kilometers of Mediterranean coastline, offers favorable opportunities for various real estate projects. Given the growing interest in rentals and the shortage of secondary housing, many potential investors are increasingly turning their attention to new developments. This, in turn, accelerates the pace of construction of new residential properties. However, it is important to note that there is currently a mismatch between the primary and secondary markets: the volume of transactions in the secondary market significantly exceeds activity in the primary market. In 2018, there were 16,387 real estate transactions inMurcia, where84%We were creating operations with already existing objects.

The real estate market and its features

One of the key factors is the geographical location of the housing. Previously, property prices on the coast were lower compared to prices in cities where people spend more time due to work or study. Usually, seaside properties were purchased for vacation purposes. However, with the increase in tourist traffic, market conditions began to change.

Conclusion

In conclusion, it is worth noting that theMurcia region, with its rich history, unique architecture, and pleasant climate, continues to attract the attention of both local and foreignreal estate investors. The growing demand for housing, both for purchase and rental, indicates thatMurcia is becoming an increasingly popular destination for living and vacationing. This is evidenced not only by the increase in building permits but also by the rising number of tourists eager to enjoy the benefits of this sunny region.

The aggressive pace of real estate price growth inMurcia makes it attractive for investment, especially considering the relatively low cost per square meter compared to other regions of Spain. The interest in new developments also clearly demonstrates a shift in buyer preferences, as they increasingly choose new projects to meet the growing demand from tourists and locals.

Cultural and natural conditions

Let's not forget that the cultural heritage, centuries-old history, and stunning natural conditions makeMurcia a unique place to live. All of this creates favorable conditions for successful property rentals, allowing owners to earn a stable income.

Why you should consider investing inMurcia:

• Affordable priceson real estate compared to other regions of Spain.
• Growingdemand for rentalthanks to the increase in the number of tourists.
• Uniquearchitectureand the cultural heritage of the region.
• Comfortableclimatecontributing to a long vacation season.

Therefore, if you are looking for a place to invest or dreaming of a home by the sea, Murcia is a great option. I am absolutely confident that in the future, this region will continue to develop, remaining attractive to new residents and investors.