Murcia’s inland ‘renaissance’

Inland Murcia is proving to be more popular with investors than the region’s Coast, according to Kyero.com, the award winning Spanish property portal …

8 out of 10 of the most popular towns in Murcia province are in fact not coastal at all, rather inland. These towns are currently experiencing a renaissance and property prices are booming.

One example is the town of Moratalla, 120km inland, where figures show that the average property price increased by 50% from province, where a 25% increase, from €139,000 to €173,000, was recorded during the same period and Puerto Lumbreras in the south west, where average property prices increased by 17%, rising from €233,250 to €245,250.

Set against the province average of a 4% increase in property prices from €204,250 (2006) to €211,250 (2007) and the national average actually declining by 0.1%, from €245,750 to €245,500, this is highly significant.

Brits seeking rural calm

This data suggests that most Britons looking for a holiday home or to relocate to the Murcian region are increasingly seeking rural areas above developed coastal towns. Space is becoming a key consideration and frequently properties are being sought near to the national parks of the region.

One example is Lorca which takes the third spot in the Kyero.com Top Ten and is situated near to the Parque Natural Sierra Espuna. This area also Sees local property development company Casas de Lorca building villas on 5 acre plots of land, meeting the demands of those looking for a low-rise property option where space is key.

A different kind of boom

Casas de Lorca’s Director, Mike Hamilton, recognizes the popularity of the Lorca area as offering something more to the discerning buyer: “Lorca offers so much for the British buyer. Not only is it under 20 minutes to the Coast and within easy reach of 3 airports, property in Lorca also offers excellent value for money. Another key reason that Brits buy in Lorca, or Murcia in general, is that they want to experience the true Spanish way of life.

Martin Dell, MD of Kyero.com, concurs, “In this climate of property growth, perhaps we are to see a different kind of boom in the areas away from the Coast. Murcia still has a huge amount to offer a different kind of buyer and those purchasing inland could well reap the rewards for some time to come.”