The housing market in Murcia maintains so far this year, and despite the impact of the inflationary crisis accentuated by the war in Ukraine, the dynamism of last year, which closed with record sales of the last decade. New housing developments have stepped on the accelerator in the northern part of the city between Juan Carlos I and Juan de Borbón. More than 1,200 homes between various promotions, finished, in project or under construction, are meeting the strong demand for the purchase and rental of new homes. A historic growth in an area that suffered the abandonment of numerous urban projects in the previous real estate crisis.
New homes, with products characterized by a higher construction quality and designs with the presence of wide and open spaces. This is the profile of homes that buyers in the area are looking for, as reflected in a study by the Appraisal Society.
"We are talking, possibly, of the city with the greatest real estate growth potential at the moment in Spain. The great reactivation of the residential sector that began years ago in other cities is now taking shape in Murcia. In response to this reality, Aedas Homes enters Murcia with a vocation for permanence, which is why it is studying more investment opportunities," says Juan López, territorial director of AEDAS Homes in Levante and the Balearic Islands, who puts figures on this reactivation of 'real estate': the sale of new-build homes in Murcia capital increased by 22% in 2021 and its price rose by 9.6%.
2021 ended with one of the biggest upturns in sales in the real estate sector, as it dragged down all the contained demand that had no outlet in 2020. Consequently, prices have also begun to react to this good market performance, and already up 6.6% compared to the previous year. This follows from the latest data published by the National Institute of Statistics for the fourth quarter.
The data shows an increase of 0.3 points compared to the results of the previous quarter, when the annual variation stood at 6.3%. In fact, the Region is among the autonomies in which this value has grown the least in the last months of the year. For its part, the quarterly variation was 1%. As for new housing, its interannual price increase reached 7.3%, while second-hand housing grew by 6.5%.
However, the head of Aedas Homes in Murcia warns that there is a huge imbalance between the supply of quality new-build housing and the demand in the Murcian capital. In addition, he specifies, "it is a proven and solvent demand that has been dammed up for several years. The city of Murcia alone has 460,000 inhabitants and in 2021 visas were approved to build just 1,300 homes. Aedas Homes arrives with the aim of serving a buoyant demand and to improve the residential market, becoming one more promoter".
Want to buy despite the economic situation
The inhabitants of the Region of Murcia have not lost the desire to buy a home despite the economic blow that the runaway rise in inflation and the last throes of the health crisis are leaving in many homes. And it is that 45% of Murcians who intended to buy a home still have it in mind. This is stated in the latest Real Estate Observatory of the listed developer Aedas Homes, closed last December and which therefore does not include the impact of the Russian invasion.
According to the results of the observatory, to which Murcia Plaza has had access, the economic and health situation has caused 9% of those surveyed to say that they have directly "completely cancelled" plans to buy a property. And another 45% have decided to "postpone the decision."
In Spain, 42% continue with their plans to acquire a property despite the crisis, three points less than in the Region. 47% admit that they have postponed the investment (two more points) and 11% of those surveyed have canceled it completely (two more points).
