Property for Sale in Murcia: What You Need to Know
For anyone considering buying property in Murcia, expect to find:
- Stunning Natural Beauty
- A Relaxed Mediterranean Lifestyle
- Incredible Value for Money
- Historical Landmarks
- Warm Climate Year-Round
Murcia is based in southeastern Spain and is slightly less urban than Madrid or Barcelona. This makes it stand out from an investment point of view, as there’s more potential for growth. Nevertheless, whether your goals are to invest in real estate, purchase a holiday home, or make Murcia your permanent residence, buying property is a relatively straightforward process for foreigners.
The guide provides all the information you’ll need to navigate the property-buying process in Murcia.
Why Buy Property in Murcia?
Murcia stands out among Spain’s regions for its:
- Affordability
- Unspoiled Coastline
- Growing Popularity Among International Buyers
Here are some key reasons to consider purchasing real estate in Murcia:
Seven Reasons to Purchase Real Estate in Murcia:
Affordable Property Prices
Compared to major Spanish cities like Madrid or Barcelona, Murcia offers property at a fraction of the cost. The region is ideal for budget-conscious buyers seeking excellent value.
Mediterranean Climate
You’re in the right place if you come looking for sun. Murcia is clear-skied and sunny for around 300 days each year. Even the winters are mild at worst.
Scenic Beaches and Nature
The Mar Menor – which is a shallow, warm lagoon – gives you water sports options for the kids. The adults have beautiful coastlines and plenty of nightlife options.
Cultural Richness
The region is home to the following historic sites. There’s no shortage of cultural exploration opportunities
- The Cathedral of Murcia
- Roman Theatres
- Vibrant Festivals
Rental Income Potential
Properties in Murcia’s popular tourist spots, like La Manga del Mar Menor, have a strong rental potential.
Golden Visa Eligibility
Purchasing property in Murcia valued at €500,000 or more can make you eligible for Spain’s Golden Visa, which grants residency benefits and access to the European Union.
Low Cost of Living
Murcia’s cost of living is significantly lower than other parts of Spain and Europe, allowing you to enjoy a high-quality lifestyle at a lower expense.
Can Foreigners Buy Property in Murcia?
Foreigners can both purchase and rent property in Murcia without any legal restrictions. Spain’s government actively welcomes foreign buyers through the Golden Visa Program. This grants residency to anyone who meets the minimum investment threshold.
As a foreigner, you can explore a wide range of property options, including:
- Modern Apartments
- Lived-In Homes in The City
- Countryside Villas
Securing financing is a lot harder if you don’t have a Spanish bank account or residency, because it’s common for local banks to require larger down payments for non-residents.
Finding a House in Murcia
The rules for buying property in Spain are usually lenient, and Murcia offers an extensive selection of real estate options to suit your tastes and budgets. Properties range from city apartments to countryside villas and coastal homes along the Costa Cálida.
Popular real estate platforms include:
- Idealista
- Kyero
- Fotocasa
For a streamlined experience, some buyers opt for British estate agents such as Rightmove, though it’s crucial to carefully evaluate the risks and visit properties in person before making a purchase.
Upscore’s Benefits
Our Finance Passport service lets you buy property in Murcia effortlessly. Make sure you utilise this tool to get all the support you need throughout the process.
- Multiple Lenders: Shop around different mortgage options from local lenders to get the best one.
- Remote Application: Apply online with ease, no matter where you are in the world.
- Personalised Service: Receive dedicated support from a mortgage agent throughout your journey.
- Free to Use: Upscore charges no fees to buyers. We earn from lenders, making our service cost-free for you.
FAQs
What Are The Average Property Prices in Murcia?
Apartments in Murcia City usually cost around €1,500 per square metre. Expect to pay higher coastal properties in the Costa Cálida – from €1,800 to €2,500 per square metre. Villas are cheaper here if you buy in rural areas, often starting at €120,000.
Are There Additional Costs When Buying Property in Murcia?
Yes, so it’s wise to budget an extra 10-15% of the property price so you can cover:
- Property Transfer Taxes (8-10% of the property price)
- Notary Fees
- Land Registry Fees
- Legal Expenses
Can I Rent Out My Property in Murcia?
Of course – it’s even a common practice. Just make sure that you’re fully compliant with local regulations. This includes both obtaining a rental licence and paying taxes on your rental income.
How Long Does The Property-Buying Process Take in Murcia?
Not that long – typically around 1-3 months as it’s based on factors like how quickly you can secure financing and complete legal checks. The process is a lot faster if you’re purchasing with cash.
Do I Need a Spanish Bank Account to Buy Property in Murcia?
It’s not always mandatory (although some lenders will require this), but having a Spanish bank account simplifies transactions, especially for the following:
- Mortgage Payments
- Utility Bills
- Property Taxes
