by Mekon » Fri Sep 16, 2011 9:18 am
I can see where you are coming from AJC, and whilst there are still some good bargains to be had in buying property in Murcia (which, is expected to increase in value once teh airport and theme park are opened), but you also need to take the figures quoted with a pinch of salt :
- There are a A LOT of smaller apartments and other properties on Golf resorts in and around Murcia, which, because they are perhaps much smaller than the 'Average Spanish Property' quoted, it may be safe to assume that they would be a little cheaper.
- Most of these properties were on large complexes where the developer was caught out by the bursting of the property bubble and either had to sell them off cheap, or hand them to the bank in an exchange for debt, who in turn sold them off cheap - thus dragging down the averageproperty prices for Murcia.
- Many developments sprang up in and around Murcia in the property boom years and therefore when the market stalled, Murcia had perhaps one of the largest gluts of properties in the country. Having more properties to shift also resulted in a fall in house prices.
Don't get me wrong - many of these properties are still good buys, and I honestly believe that investors can and will make money here sooner or later, I'm just trying to offer my opinion as to why properties in Murcia fall so far below the national average that you quote.
