| According to information released by Hometrack, the | | | | opportunity. |
| UK organization that provides information solutions to | | | | And if you're looking for a great place to invest |
| the UK housing and mortgage industries, due to the | | | | overseas, then why not consider Murcia in Spain? |
| slowing down in house price increases in the UK, | | | | Spain has been the number one favorite destination |
| investing in property in the UK market right now is | | | | for Europeans looking to buy a permanent or second |
| not a good option. The company has predicted that | | | | home abroad for many years, especially for the |
| UK house prices will rise by only 1% in 2008 and only | | | | British and Irish population - and it still continues to be |
| 2% in 2009. | | | | so. The reasons so many of us look to Spain to buy |
| Taking into account the rate of inflation, this in effect | | | | a property are many- the beautiful climate, healthy |
| means that house prices in the UK will fall in real | | | | diet, great outdoor life, lower cost of living, easy to |
| terms over the next 2 years. "In the short-term the | | | | get to etc etc. Just recently, many investors are |
| risks are on the downside driven by declining house | | | | turning their attention to the inland region of Murcia, |
| price expectations, higher mortgage rates and | | | | Spain, up untill recently a pretty much undiscovered |
| reduced mortgage supply" states Hometrack. | | | | area. The area is regarded as an up and coming |
| Having said that, Hometrack's prediction for the | | | | destination - a "property hotspot" according to |
| medium term outlook of the housing market is more | | | | property experts. |
| favourable. They say that ""The risks around the | | | | A small number of developers have been granted |
| medium term outlook are far more evenly balanced | | | | permission to construct a number of luxury resorts in |
| with lower interest rates, intense competition in the | | | | the region that we have only previously seen in the |
| prime market and a structural shortage of housing | | | | coastal areas.These resorts will boast professionaly |
| supply, all positive drivers for the market." So the | | | | designed golf courses, riding schools, badminton, |
| news is not all bad, for if you're a UK resident (or live | | | | basketball, tennis courts, heated indoor pools, |
| in Ireland too, which is experiencing a similar situation) | | | | outdoor pools, gymnasiums, prestigious club houses |
| and already own a property but are looking for | | | | and 5 star spa hotels. In the coming years, when the |
| further investment opportunities, this medium term | | | | resorts are completed, this inland region of Murcia will |
| prediction can offer a promising situation for you - | | | | be a very different place - a "leisure paradise" and it |
| for whilst investing in property at home isn't likely to | | | | will be those early investors who purchase off -plan |
| bring you any rewards right now, borrowing money | | | | properties on the early phases of these |
| against your home to free up collateral to invest in | | | | developments (buying properties that are not yet |
| property abroad (that is a potentially more lucrative | | | | ready) that will reap the big rewards. |
| market) should still to be great investment | | | | |