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ARCHIVED - Murcia property sales rose by 1.2 per cent in 2019
The increase came despite a slight fall in Costa Cálida property sales in December
This Wednesday saw the publication by the government’s central statistics unit of the residential property sales data for December 2019, showing that the number of transactions was higher than in the same month the year before for the first time since July, but in the Region of Murcia the opposite was the case, albeit not significantly so.
In most parts of Spain it appears that a ceiling has been reached in the level of activity in the market, and in Murcia the December data show a moderate decrease of 3.9 per cent to 1,059 sales, the first fall since August. As a result, during the year the provisional cumulative total of property sales in the Costa Cálida was just 1.2 per cent higher than in 2018 at 16,640, 78 per cent higher than when the market bottomed out in August 2014.
While the upturn in the property market in Murcia in 2019 was a minimal one it was still the fifth in a row, but there is some uncertainty over what developments are to be expected in 2020. Dependent to a significant degree on non-Spanish buyers in coastal areas, the effects of Brexit could be important in one way or another: either UK nationals will be deterred from purchasing their homes in the sun due to the continuing uncertainty over their future status in this country, or there could be a rush of Britons anxious to take advantage of affordable prices and establish their residency in the Costa Cálida prior to the end of the transition period, thus guaranteeing their rights in the future.
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