Blogging from the Highlands of Scotland until I return to the Murcia region of Spain
in the Autumn for a month or so

'Fair and softly goes far' - Miguel de Cervantes

Wednesday, 14 January 2009

Planning for Murcia property development ...

... beyond the present recession/depression, one hopes!

I read here that initial planning approval is expected to be granted this summer for a development of 9,000 homes, including two golf courses plus hotels etc in the Ramonete area of Murcia (near the AP7 motorway, about halfway between Mazarron and Aguilas). One imagines that this initial planning is to prepare for the period after the current recession/depression is over as I cannot imagine who they think is going to purchase these properties in the next few years, unless they propose to throw open the opportunity to purchase to potential buyers way outside traditional markets (i.e. other EU member states). Of course, it may all just be designed as a mechanism to keep the construction industry moving by throwing public money at development because the money will have to come from somewhere. Apart from anything else, this number of new properties scheduled to come onto the market in coming years, based entirely on tourism development, seems like it will only add to the massive property overhang which already exists.

The developer, Hansa Urbana, is apparently a property development firm based in Alicante, although the name might make one wonder whether it has some northern European (German, Scandinavian, Baltic?) connections.

2 comments - please add your own:

nickrutherford said...

The Development is called NOVO CARTHAGO GOLF AND BEACH RESORT. Visit http://www.corriganbentleyoverseasproperty.com/Webpage/124/Novo-Carthago-Golf--Beach-Resort.aspx for more information on this development

Bill said...

Well, thanks for your visit; I'll be interested to see when construction actually begins, assuming the planning approvals come thru this summer, as projected. I doubt there will be a massive flood of prospective purchasers from the UK, at least, in the near[-ish] future given the lowered value of the GBP against the EUR, although how long the EUR will maintain its current strength is anyone's guess, given the shakiness of many Eurozone economies, not least that of Spain itself.