Spain’s Murcia region looks to tourism increase

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The upcoming opening of Corvera Airport is expected to have a high level of impact on the local economy of Murcia, especially in terms of increased levels of tourism and demand for rental accommodation.

Antonio Sanchez-Solis, Murcia's director general of transport and ports, recently announced that the validation procedures from the Spanish Aviation Agency are now 80% approved and so the last step in the process of the airport becoming fully operational is now nearing completion.

The airport is expected to be in full swing in time for the high season of tourist visitors, and the improved access to the region for overseas visitors is likely to give the area a much needed economic boost.

At the moment the new airport is awaiting approval of its security programme, which entails the frontier and customs services being able to fulfil the requirements of the Schengen Agreement which allows freedom of crossborder travel within the EU.

There are also final adjustments to be made regarding access to airspace for civilian flights in tandem with operations out of nearby San Javier military airbase.

Currently Murcia San Javier hosts civilian flights as well as carrying out its military duties, and over 1.2 million passengers used its facilities in 2012.

A knock-on effect of the increased traffic is that property prices in the area are expected to rise in line with increased demand, giving a short window of opportunity for foreign investors looking to get in on the action.

Foreign buyers have already shown considerable interest in the area, with Belgian, French, Norwegian and Swedish investors notably driving up prices.

At the moment asking prices are being virtually achieved, with properties on sale for €195,000 (£158,916) ultimately selling for around €185,000 (£150,766).

As with any financial transaction within the Eurozone, the foreign exchange markets exert pressure in terms of changing rates between the pound and the euro.

The best way to make sure you are getting the most competitive rates when transferring money abroad is to go through a currency exchange specialist.

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Spain’s Murcia region looks to tourism increase

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