It’s halfway through 2017, and the market remains positive for buyers looking to purchase luxury villas in Spain. For one, prices continue to be attractive. Even with a 6.1% price increase over the past five months in Mediterranean coastal areas, the number of property sales in Murcia increased 17% year-on-year during the first quarter of 2017. Murcia is also the most active in residential property auctions, helping to expand the inventory of villas for sale in Murcia, Spain.
The larger inventory of homes, coupled with tempered prices, means buyers can expect a comfortable negotiation experience. In Murcia, buyers are generally putting in offers 10-15 percent below asking price, signaling favorable market conditions for those ready to throw a hat in the ring. However, be careful not to underestimate the value of these coastal properties. The market value of luxury villas in Murcia, Spain has risen by 4.7% year-on-year, and this is likely to be considered in the overall purchase price.
Aside from the data, we also know Murcia to be a highly desirable location for many Europeans. The mild climate, abundance of outdoor recreation, and affordable living attracts buyers from all over the globe. As the coast receives more recognition for its comfortable and laid back lifestyle, we expect these qualities to continue drawing buyers to the area, reducing the amount of inventory and scaling prices upward over time.
Now is the time to start researching luxury villas for sale in Murcia, Spain. You can get an idea of the different types of villas available to you, as well as the prices to expect for each property.
Contact us if you’re ready to start the search for your new home. We can work with you remotely or in person.