Sales Up, Mortgages Down!
Image: Shutterstock/ jpja1472
Property Trends
THE housing market in the Region of Murcia is experiencing contrasting trends, with a notable increase in home purchases but a decline in mortgage signings. Between January and March of this year, 5,902 houses were sold in the region, marking a significant 20.8 per cent increase compared to the previous quarter. This figure surpasses the national average and positions Murcia as the sixth region with the highest number of property transactions.
However, despite the uptick in home sales, mortgage signings witnessed a notable 28.64 per cent decrease in March compared to the previous year. This trend reflects a preference among Murcians towards purchasing homes without the need for mortgages, as evidenced by a 23.52 per cent drop in loans compared to the previous month.
Although mortgage activity has dwindled, the housing market remains resilient, buoyed by seasonal demand and overall market strength. Of the properties sold in the first three months of 2024, 1,153 were newly built, indicating a 21.5 per cent increase, while 4,749 were previously owned homes, showing a 20.6 per cent rise.
Railway progress
THE high-speed railway subterranean development of Barriomar and the development of the El Carmen station in Murcia are nearing completion, set for mid-2025. With a €16.4 million contract, Adif AV is finalising the interconnected station, a key component of Murcia s new railway setup. Of the 13.4 kilometres of the new track, 6.1 kilometres will accommodate eight station tracks, facilitating high-speed and regional services.
Progress on the underground section stands at 90 per cent. Future work will focus on interior architecture, equipment installation, and city infrastructure. The El Carmen station aligns with the Mediterranean Corridor project, vital for Spain s connectivity with Europe.
Notably, Ouigo s low-cost high-speed service, starting in September, promises affordable fares and short travel times between Murcia and Madrid, enhancing regional accessibility. With Ouigo and Renfe s AVLO services, Murcia is poised for increased connectivity, catering to a variety of passenger needs and promoting regional development.
Lifesaving Aid
FAST, the First Aid Support Team on Camposol shines through all-weather to gather funds for its crucial services. Comprised of dedicated volunteers, FAST bridges the critical gap between medical emergencies and ambulance arrival. FAST extends heartfelt gratitude to generous donors who recently contributed €105 during their bucket collection.
Every euro holds immense value, supporting their monthly operating costs of €2,000. These funds are pivotal for sustaining their essential services within the Camposol community. The cheerful waves and donations received are a testament to the community s solidarity. FAST expresses profound appreciation for this invaluable support, ensuring the continued provision of vital first-aid assistance.
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Written by
Catherine McGeer
I am an Irish writer who has been living in Spain for the past twenty years. My writing centers around the Costa Cálida. As a mother I also write about family life on the coast of Spain and every now and then I try to break down the world of Spanish politics!
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