Murcia the Only Region in Spain to Show Sales Growth!

Latest figures for September 2019 from the Association of Spanish Notaries show another decline in Spanish property sales, averaging -11%. There are some worrying dips in many of the most popular areas for foreign buyers. The Costa del Sol for example suffered a -20% decline and Almeria, our nearest competitor -26%! The only region in the whole of Spain to show growth was Murcia – albeit – a modest +2%. 

Those who have read my previous columns this year will be well aware of the reasons for the decline in the Spanish property market overall. It’s probably easier to list the things that haven’t impacted on the market than those that have, such is the state of world and political events going on! Ant and Dec, along with the Kardashians, are probably the only two rarities we can be certain of that have no impact whatsoever on the market. 

Last week I had a long meeting with a prominent Spanish mortgage broker. He was very disappointed with the way the mortgage market was going, especially in the Costa del Sol and Costa Blanca. Later I met with a foreign currency broker and her prevailing mood was the same. Business was gloomy and they were under extreme pressure to do ‘more deals’. 

“The market has changed dramatically in the past 18 months.” I was so concerned I had to ask them if we would still get our free bottle of Whisky and tin of Quality Street for Christmas!

As we approach the New Year, we can only hope that things improve.

Will Donald Trump make conciliatory moves towards the Chinese and the EU?

Will Boris ‘Get Brexit Done’?

Will the European Central Bank print enough money to get the Eurozone completely out of debt?

Most importantly, will the new Food Company in Puerto de Mazarrón have Wensleydale Cranberry cheese in stock, to save me having to go to Iceland in San Javier? 

I’d like to take this opportunity to thank all readers of this column for their emails over the past year and wish everyone a Very Merry Christmas and Happy New Year.

Kenneth Whettall

Commercial Director

Fuente Alamo Real Estate/Murcia Coast & Country

Tel 0034 968 598 173