Information highlighting the ‘stabilising of the property sector’ from the Bank Of Spain has been released, stating that property sales to foreigners are performing especially well, also with recent statistics released by the Ministry of public works showing that prices are beginning to mellow out, with only a 0.5% decrease between the last quarter of 2013 and the first quarter of 2014.
The Spanish property market is still one of Europe’s cheapest options for purchase, ahead of France & Italy. It would appear the project, ‘Paramount theme park’, is beginning to gather momentum. It was stated last week that Central government had got involved with fundraising for the project and requested 17million euro to get the project underway from the European Foundation for Regional Development.
With the airport at Covera ready and waiting to become operational, it appears that both projects need each other and this request for funding may not have necessarily been made if the two projects were not being looked upon favourably by those that will be involved in the final decision making process.
The start of the project seems to have been on the agenda for years, but if the sound bites are correct it could be a lot closer than in previous years, the projection of attracting 3 million visitors a year and creating circa 23,000 jobs is contributing to the bigger picture that Spain continues to recover in the construction sector faster than any of its European counterparts, the demand is back Any consideration for buying in the Murcia & Costa Blanca regions now, based upon this information, could be a good move!
