As I've said before it is no surprise, on paper it looks the obvious option. However contracts have not been signed or all deals agreed so it is not set in stone.
We've had a number of clients who own property in the Mar Menor area asking how we think this will impact on their property prices and rental capacity. Well, I do not believe the spin that property prices will suddenly jump by 25% overnight. Firstly this project is in its infancy, investors still have to be identified and signed up, land deals agreed, financing sorted - and that is before a single earthmover moves in. I'm not a theme park constructor so I cannot say for sure how long it will take, but I think its safe to say it will be a few years yet before we see "Visit the magic of Paramount Murcia" adverts on your TV. Is 25% realistic? At this moment in time I cannot say. If, as all hope, the park becomes 'The' theme park to visit in Europe then of course people will see it as an ideal place to invest and this will push up prices, but it is impossible to give a blanket figure.
Certainly as the owner of a rental apartment in Los Alcazares I am confident that when the park does open it will have a positive impact on our bookings. Although it is 45 minutes from the proposed site I believe families will jump at the chance of combining the visit to Paramount with a beach holiday in such a lovely location.
The key to property in Murcia and Paramount is patience. Prices are at an all time low and the existing rental market is healthy (provided you pick a good location and work at your marketing) therefore regardless of the theme park, if you are buying for the longer term now is the time to do it. If you are looking to buy now and sell within a year on the hope of a sudden "Paramount" property price hike I would save your euros.
If you are thinking of buying what type of properties should you be looking for? Well, think about the type of people who holiday in this area already and keep an eye on the future. My bet is on accommodation that will suit families, both those on a budget and those looking for a little more luxury. Two bedroom, two bathroom apartments will be ideal for the smaller family and those on a 'theme park break' while larger villas will appeal to the families looking for a little more exclusivity. In both cases look for good pool facilities and easy access to the motorway system so when the time comes they can nip off to Paramount (happily that rules in most places in this area.)
For an informal chat about the property market here on the Costa Calida, where to buy and what to buy do get in touch.
0 comments:
Post a Comment