Murcia, Spain -- (SBWIRE) -- 11/14/2013 -- Hacienda Golf Properties, a company that is based in Hacienda del Alamo and specializes in Murcia properties, has just announced that as a result of improving economic conditions in the UK, Spain and selected other Eurozone countries, they believe prices for Spanish properties will begin to firm up soon.
Further expected price reductions from Sareb, a new bank in Spain, may create some selected price declines, but according to John Green, managing Director of Hacienda Golf Properties, these are likely to be offset by the increase in demand.
“We have seen enquiry levels increase throughout 2013, and unlike 2012, this has resulted in a significant increase in sales this year. There are numerous indicators to suggest this trend will continue and sales growth will increase.”
As Green noted, some examples of these syndicators include five years of pent up demand for overseas property; the fact that Spain remains the number one destination for holiday homes across Europe, the consistent and year around sunny climate, and recent announcements in Spain and the UK—which is Spain’s largest buyer of overseas homes—that both countries are now out of recession.
In regards to economic indications at the local Murcia level, Green said there are numerous golf resorts across Murcia with significant excess housing stock, plans in place for the new Corvera airport to be opened in 2014, and the commencement of building work for the new Paramount theme park, including 72 million Euros worth of contracts awarded in October.
According to Green, these factors are already leading to some attempted price increases on selected new properties in Murcia. Barring some unforeseen events, this should logically result in the price of Murcia property starting to firm in the coming years.
Additionally, given the improvement in the overall outlook, the attitude of individual sellers of resale homes will change towards waiting for a better price in the belief that prices will increase and therefore individual bargains will become more difficult to find.
Recently, Luis De Guindos, the Minister of Economy and Competitiveness of Spain has spoken out and claimed that the official statistics on Spanish property devaluations are not accurate.
As a new article noted on the Hacienda Golf Properties website noted, although the statistics claim that prices have fallen an average of 30 percent, both homeowners and people in the property business know that this number is closer to 50 percent. De Guindos also stated that he believes that “some segments of the Spanish market have bottomed out, in line with the wider economy.”
Interestingly, as an article in the “Telegraph” mentioned, Microsoft founder Bill Gates recently bought a stake in the Spanish construction and services group FFC worth over 113.5 million Euros. Gates’s purchase caused speculation among local residents that it may prove that the market is improving.
For further information and to view some of the bargain properties in Murcia go to: http://www.hdagolfproperties.com/News/property-prices-in-southern-spain.aspx
About Hacienda Golf Properties
Hacienda Golf Properties SL is a Spanish Limited company based at Hacienda del Alamo in Murcia, South East Spain. They are specialists in golf and property in the region of Murcia. For more information, please visit http://www.hdagolfproperties.com/