Gold rush on Property in Murcia ?

A stressful weekend for the Spanish prime minister Mr Rajoy..... after all not only did he manage to secure IMF funding of 100 Billion EU to inject some breathing space into the Spanish banking system but he also had to watch the national football team sink to a disappointing draw with the Italians !

After so much gloom and despondency its good to read how the region of Murcia is leading the way in dragging the Spanish economy back onto a slightly more stable footing.

The Murcia region has long been mooted as the fastest recovering area in Spain, with the upcoming international airport and Paramount theme park boosting its potential for property investors. But interest in the region’s real estate has already started to grow, according to TheMoveChannel.com, with inquiries between March and May this year surging by 78 per cent compared to the three months from December to February. 

The increase in interest follows official reports that property sales across Spain have risen too. Real estate transactions grew by 21.9 per cent in the first quarter of 2012 compared to the last quarter of 2011, the Spanish College of Property Registrars revealed this week.  This boost in sales has been attributed to the country’s “intense lowering” of house prices, as holiday homes become even more affordable for international buyers. 

One only has to wander around the empty squares of  Narajanjos to see just how many property bargains there are to be had for those that have the cash and equity to invest. Despite the paper losses that many of the early adopters have suffered at Condado,  I still believe the majority of owners are delighted with the purchase and do not regret signing up all those years ago, after viewing the dusty field that is now Condado..

I always think of the quote by Mark Twain....

"Twenty years from now, you will be more disappointed by the things that you didn't do, than by the ones you did do" 

The First Stone is laid at Paramount

 

Alhama de Murcia, Murcia, Spain. Thursday, May 31, 2012. 

S.A. (PREMURSA) achieved another milestone in the development of the Paramount theme park and LifeStyle  Center in Alhama de Murcia this morning, during a formal ceremony presided over by Ramón Luis Valcárcel, President of the Autonomous Community of Murcia; Joaquín Bascuñana, Delegate of the Government for the Region of Murcia; Alfonso Fernando Cerón, Mayor of the Town Hall of Alhama de Murcia; Michael Bartok, Executive Vice President of Paramount Licensing Inc.; and Jesús Samper, President and CEO of PREMURSA.

Anyone lend me some Euros to build the rest of it??

 

After purchasing the project land on March 7th, 2012, the groundbreaking ceremony took place today and, according to Jesús Samper, “the project will become an international tourist destination estimated to welcome more than 3 million visitors per year.” Michael Bartok declared Paramount’s goal in Spain is the “establishment of a state-of-the-art theme park intended  to attract and entertain both locals and tourists alike.” That goal, according to Mr. Bartok, is bolstered by the region of Murcia “because of its outstanding location and climate as well as its variety of cultural and leisure attractions.”

Interesting that this ceremony took place only a few days after Mr Samper confirmed that he still doesn't have an investors in place for the project, with the current meltdown of the Spanish economy I wonder how easy a task this will be !!

Murcia Today Report on the opening ceremony