Murcia bucks general Spanish trend

Bank exchange rates are you being ripped off by your bank

Murcia has recently received an explosive amount of interest in its property market due to rock bottom prices, a new airport and a mega theme park which is soon to be constructed.

The amount of individual searches for property in Murcia rocketed in May of this year, increasing by 61% according to Rightmove Overseas.

May has been the most positive month for Murcia searches as it has received 20.6% more searches than the month before.

Mercers, a local estate agent in Murcia, have claimed the area has seen searches soar because “Murcia is not Spain”.

Chris Mercer, Director of Mercer’s headquarters in Mazarron, said: “Spain may be having a rough ride of it right now, but there’s always an exception to prove the rule and that exception is Murcia.

Murcia was placed in the top 25 locations in the World’s Best Real Estate Markets 2012, which reviews costs, ease of purchasing, appreciation potential and value for money.

“Prices are rock bottom, at their lowest in a decade. Two bed resales can be picked up for less than 40,000 pounds and now we have access to bank stock which is frontline beach and discounted by 60% off peak prices with a 100% mortgage to boot.

“Add the ‘Paramount Factor’ and the assurance from the President of Murcia that the new Corvera International Airport will be operational in October this year, and Murcia could not be a more attractive Spanish proposition.”

Transferring money to Spain

If you are looking to invest in Spain, think carefully about how you will perform your international money transfer. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Spain – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Murcia bucks general Spanish trend

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