In my long and a little chequered carreer as a property writer I have written several guides explaining what to look for in a good buy to let (AKA fly to let) destination overseas, as well as how to avoid some of the more common pitfalls to such a property investment strategy. Using this information as a basis I will now look at whether or not Murcia stacks up as a buy to let investment destination.
Below are four points I put into my guides, which tell buy to let investors some of the things to consider when choosing a market and/or a property, for example proximity to the airport, as properties within 20 minutes of an airport attract 39% higher occupancy.
Buy to Let in Murcia – How does it Stack Up?
Murcia definitely stacks up in this respect, as the closest airport is currently just 51km away (31 miles) in the Murcia-San Javier Airport. However, I should say was the closest as the Corvera airport, which is actually in Murcia is currently being built and is due to open in 2013. This will definitely add 39% or more to the average occupancy of holiday let properties in Murcia.
2: Does it have amenities such as: supermarket, bank, doctor, dentist, shops, bars, restaurants and pharmacy?
For most holiday makers these things are essential, especially in a place like Murcia which is primarily attracting low-budget travellers. When I go on holiday with my family, we may pay more for private self-catering accommodation, but I save because we go to the supermarket and cook our own meals as normal – mostly, of course it is nice to go out for your evening meal most nights, but for breakfasts and such like we have everything there, as well as drinks etc, which is also saving, not to mention having a dvd player and good internet connection for our favourite range of evening entertainment for the kids.
In the case of Murcia this isn’t really even a question, as Murcia is a major city in South East Spain with a population of almost 450,000 people, so of course it has an abundance of all the aforementioned amenities as well as a whole host more – it is a city by the sea.
3: How long is the season, and what is the place like off season? Beaches closed? Shops boarded up?
Most investors who buy in a place like Murcia (i.e. a holiday spot) will plan to spend at least one or two holidays in their property. But only a novice investor or a fool would use up high season time, which is when a rental property makes the most money and has the highest chance of winning repeat business. So investors will holiday in their properties in low season. The problem is that some investors have done this, only to find the place is closed for winter, with some cases being so extreme as to have not even a shop open for a pint of milk.
Again, because it is a populated major city this certainly isn’t a problem for Murcia, which is open and buzzing all year round.
Another thing holiday makers look for in the modern era is fine dining. They don’t just want a couple of cafes nearby, they want a wide range of dining options; to sample local cuisine, global cuisine or just to have a taste of home should they so desire.
Again, Murcia scores highly on this one as well, as it has many dining options in and around the town, including many Spanish restaraunts as well as cafes you’d expect to find in Britain and indeed restaraunts offering food from all around the world. Some 245 restaraunts are listed in Trip Advisor alone, and as a testament to the quality going up the rankings as far as the seventies you still have average 4 star ratings.