British expats migrating to Murcia and Almeria

21st June 2006, Comments 0 comments

21 June 2006, MADRID — British expats are increasingly opting to buy homes in Murcia and Almeria instead of the traditional areas of the Costa del Sol and the Costa Blanca, according to a new study published on Wednesday.

21 June 2006

MADRID — British expats are increasingly opting to buy homes in Murcia and Almeria instead of the traditional areas of the Costa del Sol and the Costa Blanca, according to a new study published on Wednesday.

The report by Barclays Bank and the IESE business school said previously popular areas for the property, tourist and expat services were reducing in areas like Alicante and the Costa del Sol.

Instead, expats and tourists alike were more interested in areas like Murcia and Almeria, said María Pin, one of the investigators from IESE.

Currently, Murcia has the fourth highest number of British residents, after Alicante, Malaga and the Balearic Islands.

There are 8,562 Britons with residence cards in Murcia – 5.7 percent of the British residents in Spain.

But the number of Britons paying social security in this area rose to 1,470 until 31 January.

This shows a rising number of Britons are starting their own businesses in this area.

The Murcia chamber of commerce estimates that 83,686 new homes will be built in this area by 2007 and the population should rise by between 200,000 and 250,000.

Murcia has become popular because of the lack of over-development and the "benign" climate.

There are good transport links and it has 250 km of relatively unexploited coastline, said the report.

Investors have spotted a good area to build golf courses, which do not cease to attract Britons.

In Almeria, the study said there was still space to develop more homes.

Now there are 183,328 homes, of which 32.3 percent are second homes owned by foreigners.

In total, Britons form the biggest European expat population in Spain.

There were 270,000 registered with authorities until 2006 – a rise of 19 percent from the year before.

Of these, 90,000 own their own homes.

[Copyright EFE with Expatica]

Subject: Spanish news

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