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What will happen in Murcia’s real estate market? Will prices go up or down? Is Murcia still a hotspot for foreign investors? How is Spain’s government impacting real estate policies and taxes in 2025?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with notaries, real estate agents, and clients who buy properties in Murcia, we’ve gained firsthand insights.
That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market predictions and forecasts.
Our goal is simple: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.
1) Rental yields in Murcia will rise as short-term rental demand grows with tourism
The yield on rental properties in Murcia is set to increase as the demand for short-term rentals rises with tourism growth.
In 2024, Murcia saw a big jump in tourism, with over 1.16 million tourists visiting from January to September, which is a 6.1% increase from the previous year. This influx of visitors has made the region a hot spot for short-term rentals.
With more tourists, there was a 7% rise in overnight stays, totaling 2.76 million during the same period. This has pushed up the average daily rate per room by 4.3%, leading to a 15.3% increase in revenue per available room, making property investments more attractive.
International tourists are spending more, with €1.256 billion spent in the first nine months of 2024, marking a 35.1% growth from 2023. This spending spree is a boon for property owners looking to capitalize on the short-term rental market.
Foreign visitors are staying longer, with an average stay of 12.49 days, which boosts the profitability of short-term rentals. This trend is particularly beneficial for those investing in properties aimed at international tourists.
Sources: Euro Weekly News, Euro Weekly News, Travel and Tour World
2) Property prices in Cartagena will rise significantly as it gains fame as a cultural and historical center
Cartagena is becoming a hot spot for culture and history, and this is driving up property prices.
In 2024, tourism in Cartagena hit a new high, with hotels enjoying an average occupancy rate of 73%, a slight bump from the previous year. This boom in visitors is not just filling up hotels; it's also boosting the local economy, especially the real estate market. People are flocking to the area, and it's making a noticeable impact on property values.
From November 2023 to October 2024, the average price per square meter for homes in Cartagena jumped by 8.02%, reaching €1,751. The Mar Menor de Cartagena area is particularly pricey, with the highest sale price at €2,041 per square meter in October 2024. If you're thinking about renting, expect to pay more too. Rental prices climbed to an average of €8.11 per month per square meter, marking an 8.42% increase from December 2023.
What's fueling this growth? The government is pouring money into restoring cultural and historical sites, making Cartagena even more attractive. Ongoing archaeological projects are preserving the city's rich history, drawing in more visitors and potential property buyers. Plus, the city hosts a variety of cultural events like the Cartagena International Music Festival and the Frito Festival, which are big hits with both locals and tourists.
These festivals and events are not just fun; they are part of what makes Cartagena a cultural magnet. The city's reputation as a cultural destination is growing, and with it, the demand for property. People want to be part of this vibrant community, and they're willing to pay for it.
So, if you're considering buying property in Cartagena, know that you're looking at a place with a rich cultural scene and a promising future. The combination of government investment, cultural events, and a booming tourism industry is making Cartagena a prime spot for real estate investment.
Sources: The Latin Investor, Travel and Tour World, Indomio
We have made this infographic to give you a quick and clear snapshot of the property market in Spain. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) Property prices in Murcia will grow moderately as it attracts more international investors
Murcia is catching the eye of international investors, leading to moderate growth in property prices.
One reason for this trend is the steady rise in the House Price Index (HPI) for both new and existing homes. By 2023, the HPI hit record highs, showing a strong demand for properties. This demand is partly driven by the region's charm and affordability compared to other parts of Spain.
Tourism is also booming, with a 20.7% increase in foreign visitors from January to September 2024. This influx not only boosts the local economy but also makes Murcia more appealing for property investment. Tourists spent a whopping €1.12 billion in 2024, highlighting the region's growing allure.
Infrastructure improvements, especially along the coast, have made Murcia more accessible and attractive to international buyers. These upgrades, along with the region's affordability, offer investors a chance to find value and growth potential in their investments.
Murcia's coastal areas are particularly enticing, thanks to ongoing developments that enhance their appeal. The combination of natural beauty and improved infrastructure makes these areas a hot spot for those looking to invest in property.
Overall, property prices in Murcia are expected to continue their moderate growth as the region becomes more attractive to international investors. The blend of rising tourism, infrastructure improvements, and affordability creates a promising environment for property investment.
Sources: Statista, Euro Weekly News, Micasamo
4) Rental demand in Murcia will rise significantly as more people opt to rent instead of buy amid economic uncertainty
Murcia's rental market is buzzing as more people choose to rent instead of buy homes.
In 2023 and 2024, rental prices in Murcia saw a significant jump, with costs per square meter hitting €8.10, marking a 6.6% increase from the previous year. This trend is even more striking in places like San Pedro del Pinatar and Mazarrón, where rents have surged by 27% and 11%, respectively. People are clearly willing to pay more to secure a place to live, showing a strong demand for rentals.
Murcia's rental yield reached an impressive 7.49% by the end of 2023, outpacing the national average. This indicates a thriving rental market, with more rental agreements being signed compared to property sales. Idealista reports a decline in new housing sales, with a 6.6% drop between April and June 2024, suggesting fewer people are buying homes.
Economic uncertainty is nudging more folks towards renting. High construction costs, limited housing supply, and regulatory changes are pushing home prices up, making buying less affordable. Renting offers a flexible alternative, especially for younger people who value mobility.
Financial institutions have tightened their mortgage lending criteria, making it tougher to get home loans. This shift is driving more people to consider renting as a practical option. The rental market is becoming a go-to choice for those who find home ownership out of reach.
Sources: Euroweekly News, Euroweekly News, Idealista
5) Fewer British buyers will invest in Murcia because of post-Brexit issues and currency changes
British buyers in Murcia are dwindling due to post-Brexit issues and currency shifts.
In early 2024, there was a 10% drop in British property sales in Spain compared to the previous year. This isn't just a blip; it's part of a larger trend where Brits now make up a smaller slice of the Spanish property market than they did ten years ago. The red tape has gotten thicker post-Brexit, with tougher visa and residency rules making it harder for Brits to buy and keep property in Spain.
The pound's value has taken a hit against the euro, which means British expats have less buying power in Spain. Everyday costs are climbing, making the idea of investing in Spanish property less attractive. The new residency rules also mean Brits can't stay in Spain as long as they used to, which complicates owning a home there.
Being non-EU citizens now, Brits face extra costs like healthcare and uncertainties around pensions. These hurdles are pushing some to look at properties back home or in non-EU countries instead. The appeal of Spanish property is fading for many, as these financial and bureaucratic challenges pile up.
Sources: Spanish Property Insight, Total Moving Solutions, Right Casa
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6) Suburban areas in Murcia will become more appealing to buyers as public transportation expands
Murcia's tramway extension is set to make suburban areas more accessible and attractive to buyers.
In 2023, the central government poured funds into this project, aiming to improve connectivity and provide a direct link to the city center. This move is a game-changer, as it slashes commute times, making suburban living more appealing. Imagine hopping on a tram and reaching the heart of the city in no time.
Public transport usage in Spain jumped by 18.2% in 2023, showing a clear demand for reliable transportation. When transit access improves, property values often rise, as these areas become hot spots for potential buyers. Real estate experts frequently point out that transportation links are key in property valuations, with buyers leaning towards homes that offer easy access to public transport.
Look at Barcelona, for instance. Expanding their public transportation network led to suburban growth, proving that better connectivity can drive development. Murcia is following suit, and the addition of new electric buses is part of a broader strategy to boost public transport efficiency. This can further increase ridership and, in turn, boost property values in well-connected areas.
For those considering a move, these developments mean more options and potentially better investment opportunities. The expansion of Murcia's public transportation network is not just about getting from point A to B; it's about enhancing the quality of life and making suburban areas more attractive to buyers.
Sources: Urban Transport Magazine, INE, Conversaspain
7) Renovation costs in Murcia will rise as new environmental rules demand higher energy efficiency standards
Murcia is stepping up its game with new environmental regulations focused on energy efficiency.
These changes are part of a larger plan to make Murcia more sustainable, aiming for climate neutrality by 2050. The region is tapping into its solar energy potential, with 78.06% of roofs ready for solar panels. This could drastically cut CO2 emissions, and the government is already leading by example with energy-efficient public buildings.
For property owners, these new standards mean higher renovation costs. While installing solar panels and other technologies can be pricey upfront, they often pay off in the long run. Homeowners could save about €2200 annually with solar panels, and there’s financial help available to ease the initial burden.
The real estate market in Murcia is shifting towards energy-efficient homes, driven by these regulations. This trend is not just a government push; it’s gaining traction in the media and among investors, highlighting the growing importance of sustainable living.
As more people prioritize energy efficiency, Murcia is becoming a hotspot for eco-friendly investments. The focus on sustainability is not just a trend but a necessity, aligning with the region’s ambitious environmental goals.
These regulations are a game-changer, encouraging a shift towards greener living and making Murcia a leader in energy efficiency.
Sources: Citego, ICIDE Energía Solar, Murcia's Circular Economy Strategy
8) Demand for modern apartments and co-living spaces in Murcia will grow as more young people move to the city
The influx of younger residents to Murcia city is set to boost demand for modern apartments and co-living spaces.
Murcia's population is on the rise, with a 0.59% increase in 2023 and a projected 0.39% rise in 2025. This steady growth hints at more young people flocking to the area, drawn by fresh opportunities and a vibrant lifestyle.
The University of Murcia, with its 60% acceptance rate, attracts a significant number of students. These young folks often seek out modern living spaces that offer both convenience and a sense of community. The trend is clear: they want places that match their dynamic lifestyles.
In Spain, and Murcia in particular, the coworking space market is booming. This reflects the younger generation's love for flexible work environments, which naturally pairs with their preference for modern living arrangements.
Real estate reports reveal a 41% jump in demand for new housing in Murcia in 2021 compared to the previous year. This surge underscores the growing interest in contemporary apartments and co-living spaces among the city's younger crowd.
Adding to this, there are 160 new building offers listed on a specialized website, highlighting the active market for modern housing solutions in Murcia. It's a clear sign that the city is evolving to meet the needs of its younger residents.
Sources: Macrotrends, Edurank, NextMSC, New Building Spain
We made this infographic to show you how property prices in Spain compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
9) Property demand in Murcia's coastal areas will rise as remote work lets more people live by the sea
The coastal areas of Murcia are becoming a hot spot for property buyers, thanks to the rise of remote work.
In 2023, property prices in these areas jumped significantly, showing just how popular they've become. By 2024, Mazarrón, a charming coastal town in Murcia, stood out as Spain's top coastal area for property investment, boasting a remarkable 11.4% return on investment.
What's driving this demand? It's the stunning natural beauty, top-notch amenities, and a thriving tourism scene that make Murcia a magnet for both local and international buyers. Remote workers, in particular, are drawn to the fantastic quality of life here, with its mild climate and rich cultural offerings.
Remote work isn't just a trend; it's reshaping where people choose to live. In Spain and across Europe, it's fueling migration, with Spain's population growing by about 1 million between 2022 and 2023. This shift is backed by ongoing infrastructure improvements and investments in local services, making these coastal spots even more appealing.
For those eyeing a property by the sea, Murcia's coastal areas offer a unique blend of lifestyle and investment potential. The region's allure is only set to grow as more people embrace the flexibility of remote work, seeking out places that offer both beauty and convenience.
With the right mix of natural charm and modern amenities, Murcia's coastal areas are poised to see a continued surge in property demand, making them a smart choice for future homeowners and investors alike.
Sources: Micasamo Realty, CaixaBank Research, Euroweeklynews.com
10) Demand for luxury properties in Murcia will rise as international buyers look for exclusive homes with Mediterranean views
Murcia is quickly becoming a hotspot for luxury real estate, especially among international buyers.
In 2024, the region saw a 20.7% jump in international tourists, making it the fastest-growing area in Spain for overseas visitors. This influx not only boosts the local economy but also underscores Murcia's allure as a prime location for luxury living.
What draws many international buyers is the stunning Mediterranean views that properties in Murcia offer. The Mediterranean lifestyle, with its pleasant climate and laid-back vibe, is a big attraction. Real estate agents in the area have noticed a rise in inquiries from international clients eager to find exclusive homes.
Property values in Murcia's coastal areas are on the rise, with new build prices increasing by 9.6% annually. This trend mirrors what's happening in other sought-after Spanish spots like Marbella, where luxury real estate is booming thanks to international interest.
As Murcia builds its reputation as a luxury destination, it's poised to draw even more international buyers. They're on the hunt for exclusive properties with breathtaking Mediterranean views, making the region a top choice for both personal enjoyment and investment.
Sources: Nardia, Euro Weekly News, Travel and Tour World
11) Demand for traditional Spanish-style homes in Murcia will grow as buyers look for authentic cultural experiences
Interest in traditional Spanish-style homes in Murcia is on the rise as more people seek authentic cultural experiences.
In 2023, Spain's tourism industry hit record highs, with over 84 million international visitors spending more than €108 billion. This surge in tourism shows a growing interest in experiencing Spanish culture. Foreign buyers made up 24.68% of home sales in Murcia in 2024, highlighting the area's appeal to international residents.
This trend suggests that buyers are looking for authentic cultural experiences through property investments. The Murcia region saw a 10.75% increase in property sales, with towns like San Pedro del Pinatar and Los Alcázares experiencing significant growth, partly due to the allure of traditional Spanish architecture.
Social media platforms frequently showcase traditional Spanish homes and lifestyles, increasing their visibility and appeal among potential buyers. The Spanish government's initiatives to promote cultural heritage and tourism in regions like Murcia further enhance the attractiveness of traditional Spanish homes to international buyers.
Buyers are drawn to the charm of traditional Spanish architecture, which is often highlighted on social media. The Spanish government is actively promoting cultural heritage and tourism in regions like Murcia, making these homes even more appealing to international buyers.
With the combination of social media exposure and government initiatives, traditional Spanish homes in Murcia are becoming increasingly desirable for those seeking a genuine cultural experience.
Sources: ETIAS, Euro Weekly News, 360 Home Tour
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12) Demand for single-family homes in Murcia will drop as more people choose low-maintenance apartments
In Murcia, more people are now choosing apartments over single-family homes.
This shift is happening because land for standalone homes is scarce and expensive, making apartments a more appealing choice. In early 2024, apartment sales surged, with nearly 40% of new constructions being apartments or residential complexes. This trend is backed by surveys showing that people prefer the low-maintenance lifestyle that apartments offer.
Demographics are changing too. The average household size in Spain has been shrinking, which means more people are looking for smaller, flexible living spaces like apartments. Urbanization is also a factor, as more folks are moving to city centers where apartments are the norm.
In Murcia, this trend is particularly noticeable. The city is seeing a rise in apartment living as people seek convenience and affordability. City centers are becoming more attractive due to their proximity to amenities and work opportunities, making apartments a smart choice for many.
For those considering buying property in Murcia, it's worth noting that the demand for single-family homes is expected to decline. This is because more people are opting for the ease and practicality of apartment living.
So, if you're thinking about investing in Murcia, keep in mind that apartments are becoming the preferred option for many, driven by both economic and lifestyle factors.
Sources: Euro Weekly News, PwC Spain Real Estate Report
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.