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Signs for Murcia’s Paramount Theme Park “most positive for a long time”

Posted by: In: Real Estate 17 Nov 2014 Comments: 0 Tags: , , , , , , , , , , ,

Mercer estate agents focuses on affordable property in the 50,000 to 200,000 euro price bracket – all close to beach and golf.

In 2010, the Paramount Theme Park in Murcia was announced, prompting a wave of positive buzz for the Spanish region. Since then, though, the amusement park’s progress has been something of a rollercoaster, with more downs than ups. The opening date has been gradually pushed back from 2015 to 2017. Aside from a symbolic stone-laying ceremony in 2012, and recent small-scale work on access roads, the site has been “relatively quiet”, admits Chris Mercer, Director of estate agent Mercers Ltd.

The agency, located some 10 minutes from the Paramount-branded Theme Park site and 30 minutes from Corvera Airport, admits that “a 200-million-euro-plus project in a country emerging from recession was never going to have it easy”.

Now, though, the agent says the signs are “the most positive we have seen for a long time”, with the nearby airport set for a possible take-off in 2015.

Alberto Garre, President of the Region of Murcia, said this month that the arrival of the high speed AVE train and opening of Corvera International Airport “in 2015, if possible, would become reality”.

Indeed, the race to open Corvera Airport is gathering speed, albeit at the expense of Murcia-San Javier Airport, which will close as the new airport opens. All that remains is for the European Commission to give its decision on the legality surrounding Corvera’s loan guarantee, and compensation for San Javier’s closure, a decision which will be heard on 18th December. If all is well, Corvera will open in April/May 2015 and San Javier will begin a 12 to 18 month wind down process. (The Spanish airport authority, AENA, has said it will not place any obstacles in the way.)

Spain’s tourism industry, on the other hand, has been on a ride that continues to go up: from January to September, Spain has welcomed 52.4 million international visitors, up 7.4 per cent year-on-year, sending the country on the right track for another record breaking year.

“These figures alone prove the demand is there,” adds Chris, who says the timing for the new theme park is still “pretty good”. Meanwhile, the property market is still enjoying a double whammy of low house prices and a strong pound versus euro, he continues.

Indeed, on TheMoveChannel.com in September, enquiries for Spanish property surged to their highest levels in 2014 so far, Mercers, meanwhile, has enjoyed their own boom, with sales figures in 2014 expected to be up 30 per cent on 2013.

“Add a 16.28 million euro European Commission subsidy to kick-start investment at Paramount and Murcia is clearly entering a purple patch,” he adds.

The rollercoaster continues.

Spain, Travel and Tourism, Spanish property

Source: The Movechannel


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