Property for Sale in Murcia: What You Need to Know
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:
- The Cathedral of Murcia
- Roman Theatres
- Vibrant Festivals
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:
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.
FAQs
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
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
