| #ffffff;" /> | | | | overseas and domestic buyers. They have superb |
| Spanish property has always been the most popular | | | | facilities, good rental potential and excellent security. |
| choice for Europeans to own a holiday home. The | | | | Prices have always been much more reasonable in |
| wonderful climate, relatively low costs of living and | | | | Murcia than other areas of Spain such as the Costa |
| ease of access has meant that the property market | | | | del Sol, however agencies such as Murcia Golf |
| in Spain has seen huge increases in the value of | | | | Properties Ltd are currently offering properties in |
| property over the last ten years. The downside of | | | | prime positions at less than original release prices of |
| this property boom is that greedy developers and | | | | five or six years ago as re-sales flood the market. |
| poor planning by local and national government has | | | | During recent years property buyers in Spain focused |
| created an over-supply of property, leading to many | | | | mainly on off-plan property, but now buyers have a |
| properties un-sold and many developers going bust. | | | | much wider choice. Many property owners are |
| The Global Credit Crunch is currently affecting | | | | struggling to finance their investments since |
| homeowners in most European countries, many of | | | | mortgage rates increased and exchange rates |
| which have traditionally provided buyers for holiday | | | | plummeted. This is leading to an influx of completed |
| homes in Spain. With property prices in domestic | | | | property at bargain prices. These re-sales are often |
| markets tumbling the demand for overseas property | | | | cheaper than off-plan equivalents and are being sold |
| has dwindled. So Spain is currently suffering from an | | | | with extras such as swimming pools, air-conditioning |
| over-supply of properties and reduced demand. | | | | and furniture. This is putting further pressure on the |
| Inevitably prices have had to be adjusted to reflect | | | | developers. |
| this – many developers are now offering | | | | “There’s no doubt that the market is |
| discounts on key-ready properties of up to 35% off | | | | very tough, however Spain is not alone in that. What |
| the list prices. One of the leading Spanish property | | | | it does mean is that anybody looking to buy in Murcia |
| developers – Polaris World – are | | | | now has some superb properties to choose from at |
| offering 28% discounts on two of their | | | | bargain prices. We have apartments on La Torre Golf |
| developments in Murcia, Costa Calida. Hacienda | | | | Resort from €115,000 and villas from |
| Riquelme and El Valle Golf Resorts feature 18 hole | | | | €159,000. These properties would have sold |
| ‘Nicklaus’ designed golf courses, 24 | | | | for at least 40% more than that a year ago. Now |
| hour security and many other facilities, yet prices on | | | | really is a good time to snap up a bargain.” |
| these resorts have been slashed as Polaris World try | | | | added Mr Savage of Murcia Golf Properties Ltd |
| to sell the remaining key-ready properties. | | | | Property in Spain can now be bought for prices |
| “Polaris World probably didn’t expect | | | | similar to that of less attractive countries such as |
| to have completed their resorts and still have | | | | Bulgaria and many experts believe that Spanish |
| properties to sell. As with most Spanish developers, | | | | property will bounce back quicker than other markets |
| the properties are financed and therefore the | | | | when the credit crunch loosens. Perhaps one of the |
| developer will be paying a mortgage on every unsold | | | | few benefits of the credit crunch is that very good |
| property. It is in their interests to sell them off as | | | | quality Spanish holiday homes have now become |
| quickly as possible.” stated Tim Savage, | | | | available at very attractive prices. It is clearly a |
| Director of the leading Murcia golf property agency | | | | buyer’s market and could be a good time to |
| – Murcia Golf Properties Ltd ( | | | | buy your dream holiday home at a knock-down price. |
| The golf resorts of Murcia are still very attractive to | | | | |