The latest news from Marena Murray

Property viewing trips in Murcia and Costa Blanca in October and November from just 95GBP

The Browns of sun, sea & selling Houses have able to add five more Properties Viewing Trips this autumn for just £95 pp.

Click here to read Property viewing trips in Murcia and Costa Blanca in October and November from just 95GBP.

Individual Villa 190, La Manga Club

Quite simply incomparable to anything else on La Manga Club, this Individual Villa sits quietly on a...

£2,950,000

Click here to read Individual Villa 190, La Manga Club.

Individual Villa 188B, La Manga Club

Overlooking the 6th Green of the Championship South Course and just a minute's walk to the first...

£3,250,000

Click here to read Individual Villa 188B, La Manga Club.

Cartagena and Murcia - full day shore excursion for cruise guests

When your ship docks at Spain's Cartagena port, make the most of your time and discover both Cartagena and Murcia on a sightseeing shore excursion...

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Three tapas Cartagena walking tour

Immerse yourself in Cartagena’s millennia of history—and enjoy an introduction to the city’s gastronomic offerings, too—on this small-group walking tour. Begin your explorations from...

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Welcome to the Farmfoods European Senior Masters Championship

Between 2nd - 5th November 2023, golf fans are going to be treated to one of the most highly anticipated golf events of the year, hosted at the newly refurbished Grand Hyatt La Manga Golf and Spa, one of the world’s most stunning and prestigious golf courses in the world.

Click here to read Welcome to the Farmfoods European Senior Masters Championship.

The allure of owning property on a golf resort in Murcia

For foreign buyers, purchasing property in one of Murcia's luxury golf resorts like La Manga holds a plethora of enticing benefits that extend far beyond the allure of just owning a holiday home, according to local real estate experts.

1. A golfer's paradise

One of the primary attractions for foreign citizens in buying property on a golf resort in Murcia is the exceptional golfing opportunities it provides. The Region boasts an extensive selection of world-renowned golf courses, meticulously designed to challenge players of all levels. These impeccably maintained courses, set against the backdrop of Murcia's natural beauty, create a golfer's paradise that entices enthusiasts from around the world.

2. Luxurious lifestyle

Owning property on a golf resort in Murcia offers residents a luxurious lifestyle that caters to comfort and relaxation. Many golf resorts in the region boast exclusive amenities such as elegant clubhouses, spas, fine dining establishments, and private pools. These facilities create a haven where residents can unwind and socialise while relishing the warm Spanish climate and scenic vistas.

3. Strong investment potential

From an investment perspective, purchasing property on a golf resort in Murcia can be a savvy financial decision. The region's popularity as a tourist destination has led to a robust rental market. Foreign buyers can choose to lease out their properties during periods when they are not personally using them, generating a passive income stream. Additionally, over the years, property values in Murcia have shown a steady appreciation, making it an attractive option for long-term investors.

4. Diverse leisure activities

Beyond golfing, Murcia offers a diverse array of leisure activities for foreign residents to enjoy. Pristine beaches along the Costa Cálida provide ample opportunities for water sports and relaxation. The region's rich history and culture are evident in its numerous museums, historic sites, and traditional festivals, providing a deep and immersive experience for those eager to explore Spain's heritage.

5. Year-round climate

Murcia enjoys a Mediterranean climate, characterised by mild winters in comparison with the UK, Germany and northern Europe, while the hot summers make it an ideal destination for year-round living or holiday retreats. This pleasant haven for weather ensures that residents can indulge in outdoor activities, including golfing, ampos, swimming, and hiking, throughout the year.

The benefits for foreign citizens of purchasing property on a golf resort in Murcia extend far beyond the immediate joys of owning a beautiful holiday home. From the inescapable pull of world-class golfing and luxurious lifestyle to strong investment potential and a welcoming community, Murcia provides an idyllic haven for those seeking to embrace the Spanish way of life.

If you are interested in La Manga Club property, please get in touch below.

MurciaToday*

Buyer affordability is improving

There is always a wonderful reason to move. Property is beautiful, from the details of a feature fireplace to a view of the sunset over your garden. The right home is an investment and a place to make memories and profound emotional connections. You may have your heart set on the perfect kitchen or an idyllic outdoor space, but the numbers need to be right.

Lower asking price
Asking prices have decreased in recent months, however this should not be viewed as a bad thing. The rapid acceleration in the value of property has been hasty, and world events have somewhat exaggerated things. The fact that the property market is readjusting to a more normal market is healthy, especially considering the steady gradual release of value. It is important to remember that borrowing less overall to buy your home is a good thing, as it reduces other associated costs.

Earnings
Many people are buying together, whether with a partner or a group of friends. This is a quick route to buying your home and gathering a deposit. Nobody can deny that the cost of living has increased, but the good news is that wages are rising. According to the Office for National Statistics, growth in regular pay (excluding bonuses) was 7.2% from February to April 2023.*

Equity
How long have you lived in your home? It’s more likely the longer that time is, the more equity you’ll have. That equity has accelerated rapidly in recent years. There is probably quite a big cushion to fall back on if prices fall a bit more. First-time buyers' homes are in good demand, meaning even if you bought within the last few years, you will have gained a lot of equity, giving you the chance to move into something bigger.

Communicate with your agent
There are no hard-and-fast rules when it comes to property. All homes are unique, as are the different areas in your region. Your needs as a home mover are different from your neighbour's. And today, agents have the means to connect you with buyers and sellers like never before. State-of-the-art tech, in the form of databases and marketing tools, alongside good old-fashioned experience and local market knowledge make it all the more important to get in touch with a reputable estate agent. Ultimately, this means that your estate agent is pivotal in finding a way for you to get the keys to the home you want.

Find your dream property, get in touch to make it a reality

Office for National Statistics*
Moneyfacts*

Some questions you might not ask your agent when moving

You know the feeling. It happens during so many important events in life. You go on a viewing, it’s such an interesting and exciting process that you become a little flustered. You walk from room to room, loving what you see. You are enamoured and excited, so you forget to ask an important question. While you can always contact your agent at any time to gain more information, it's important to remember that your agent is an invaluable partner in your moving journey. So here are a few questions that you might not think to ask to add to your list.

If you are selling

How long will it take to sell my home?
Your agent is an expert in the market and area you want to buy or sell. So, while your agent can’t look into a crystal ball, they will be able to give you a good indication of how long it will take to sell your home. Agents are also dialled into local property trends. Your home is unique and may sell quickly.
What are the terms of your contract?
It’s important to communicate with your agent about all aspects of your move and never be afraid to ask too many questions. Different agents offer varying contracts, so it’s important to know the terms of yours. Talk to your agent about your individual requirements, and a good agent will meet your needs, and create a contract which will reflect them.
How quickly will my home appear on the market?
A good agent will value your home at the right price and take care of all marketing swiftly, from photographs to getting your property advertised. Estate agents today have a vast database of buyers ready to buy. Add to this the vast number of home movers that agents are in daily contact with, and chances are they may already have a buyer for your home in mind. And when it’s time to accept or reject an offer, your agent will keep you on the right path.

If you are buying

What is this area like to live in?
Whether you need to know the proximity to local transport links, schools, or places to carry out your hobbies, your agent will know. They will have sold properties and dealt with many clients in the area you want to move to or from. You will want to enjoy your new life as much as possible, and your agent will answer other key questions, such as where you can find the nearest good pub!
Can you help me negotiate an offer?
When it’s time to make an offer, a good agent is invaluable. Their vast market knowledge and experience when it comes to judging the market and the condition of the property in question are crucial. Ultimately, it’s your choice, but with the right guidance, you can pay the right price for the home you want.
If I improve the property, how much value will it add?
Whether you have already made some alterations or are thinking of buying a home with a view to updating it, your agent can tell you all you need to know. It could be that you are interested in making small improvements, like painting or decorating. Or you may decide on a grand design with the very latest in energy efficiency. The same goes if you add an outdoor space, a new kitchen, or convert the attic. Sometimes it’s better to get this information before you buy to see which property will give you the biggest returns.
From your mortgage to your big move
Modern estate agents can help with every aspect of your move, from getting the right mortgage to discovering a great buy-to-let investment. You will have many questions and maybe a few concerns. Moving can be stressful and full of legal pitfalls. You want every aspect of your new home to work for you, and a good agent can make that happen while supporting you, making for a happier home-moving experience.

Are mortgage rates high or returning to normal? Here's what to do

There is no doubt that interest rates are a lot higher than they have been for some time. It can be a shock to the system when it’s time to renew your deal and suddenly you are paying significantly more. However, if we put the current rates into historical context, they still represent good value for money.

Mortgage interest rates
In recent years, interest rates have been exceptionally low. This has caused us to think that the current increases are higher than they really are. According to Moneyfacts, a standard variable rate mortgage in 2020 was 4.90%* and the average five-year fixed mortgage in September 2023 was 5.67%.** The lowest average mortgage interest rate in the past 25 years was in September 2021 at 3.59%, with the highest being 8.87% in September 1998.*** Current forecasts indicate that they will never fall to the ultra-low levels of the past and that they are rebalancing to historically normal levels.

The bank base rate
September 2023 saw a bank base rate of 5.25% which represents a significant decrease from rates of 17% in 1979, 13.88% in 1990 and 7.25% in 1997. Base rates have risen since February 2022 (0.50%.****) and may rise again, but only slightly, and this should not significantly impact mortgage interest rates. The good news is a falling inflation rate of 6.8% in September 2023 will help to lower interest rates.****

More support
Nowadays, there is more you can to than ever to combat rising mortgage rates. Mortgage support such as interest-only payments and longer terms help a lot of people adjust to more normal rates. In the past, there was little or no assistance, which led to a less stable market. More stability makes for a healthier, predictable housing market which allows you to move between homes without sudden changes. This, in turn, means you can get on with making your move today and feel more secure.

Mortgage options
There are also plenty of products and options to choose from such as porting. This means you can buy a new property with your existing mortgage. Hence, if you are paying a more favourable rate on a fixed term, you don’t have to put off moving. Mortgage providers are also offering longer terms; many mortgage providers offer a 35-year term, while a few offer 40-year terms, and some even more. For first-time buyers, government-backed schemes such as the Mortgage Guarantee Scheme are helping many homebuyers make their first move. If mortgage rates fall in the future, there is also the option of remortgaging.

Final thoughts
Interest rates are getting back to normal, and while they have some way to go, they are not as high as you may have first thought. Buying a home you can be happy in is something you can’t put a price on and if you are still worried about interest rates, then remember that there are so many more options and support available than in past years. This brings about a more stable market, which offers peace of mind and reduces the likelihood of unexpected changes. Using a good agent will ensure you pay the right price for your home. This, combined with your property's unique situation regarding equity and local market supply, among other factors, means a good chat with your agent has never been more important.

Moneyfacts*
Rightmove**
Mortgageable***
Bank of England****

Monte Leon 12, La Manga Club

This interesting property was constructed in 2006 and combines nature and design, creating ...

£950,000

Click here to read Monte Leon 12, La Manga Club.

Monte Leon 6, La Manga Club

The views are exceptional and without betterment anywhere else in La Manga Club. Boasting...

£725,000

Click here to read Monte Leon 6, La Manga Club.

1. A golfer's paradise

2. Luxurious lifestyle

3. Strong investment potential

4. Diverse leisure activities

5. Year-round climate

If you are interested in La Manga Club property, please get in touch below.

MurciaToday*

Discover why Murcia is a top destination for property investors

Located in the southeast of Spain, the Region of Murcia continues to attract the attention of real estate investors from all over the world. With its crystalline beaches, warm Mediterranean climate and rich history and gastronomic culture, the area has become increasingly popular with people hoping to relocate or discover a second home in the sun.

1.Location

Murcia enjoys a Mediterranean climate with mild winters and very hot summers that frequently stretch well into October, making it the perfect destination for those wanting to enjoy year-round sunshine. The Region also boasts the stunning Costa Cálida coast, with miles of sandy beaches and picturesque coves.

2. Affordability

Compared to other popular resorts like the Costa del Sol and Costa Brava, house prices in Murcia tend to be far more affordable, with everything from beachside luxury villas and penthouses to city centre boltholes on offer. This affordability and choice has continued to attract both homebuyers and real estate developers looking for investment opportunities over the years..

3. Infrastructure

The regional government has significantly invested in infrastructure and the area is home to several high-speed rail services with exciting new connections to Madrid and other top destinations in Spain. The region is also home to Corvera, an international airport, making it easily accessible from abroad.

4. Golf courses

Today, Murcia is internationally renowned for its huge selection of top-class golf courses and resorts, a reputation that draws thousands of enthusiasts each year. The all-year mild climate has also allowed the Region to develop its outdoor sports tourism in other areas, and this niche market continues to attract investors.

5. Tax breaks

The Spanish government offers numerous incentives to attract real estate investment. In Murcia, property buyers can enjoy a reduced VAT rate on new builds, as well as a flat income tax rate of just 19% for non-residents who rent out their properties.

6.Economic growth
The Region has seen steady economic growth in recent years and as the local economy thrives, this naturally attracts businesses, tourists and expats keen to enjoy a thriving community.

The overall quality of life in Murcia, including its cultural attractions, abundance of sunshine and affordable, quality housing makes its an ideal destination for those looking to make a sound investment in real estate.

If you are interested in La Manga Club property, please get in touch below.

MurciaToday*

Tricks of the trade used by the Spanish Treasury to ensure rental properties are legal

How does the Spanish tax agency monitor rental properties?

Treasury inspectors rely heavily on regional governments to keep track of deposits paid for rental homes, but the Tax Agency also requires landlords to submit a property’s energy efficiency certificate when a lease is signed, so the authorities can quickly flag owners that haven’t correctly paid their taxes.

In addition, the Treasury also analyses the aid granted for works to improve the energy efficiency of homes, together with the list of cadastral reference numbers to which they refer.

Also, inspectors can cross-check the electricity supply or water consumption in a supposedly empty house or apartment; if the utilities are being regularly used, this is clear evidence of an illegal lease.

But it doesn’t stop there. One of the ways inspectors work is through the surveillance of real estate websites, through which they can also monitor irregular tourist rentals.

In fact, this is an area where rental fraud has grown the most in recent years. To keep track of holiday homes, the main source of information for the Treasury is through the ‘Modelo 179’ form, which should be submitted on a quarterly basis for all rental properties by the intermediators in operations (such as Airbnb, etc.) not by the owners of the touristical apartments rented.

This document includes fundamental information, since it must state the owner of the property being rented, its cadastral reference, the number of days it has been rented to tourists, as well as the amount of rent received.

The latest data from the Treasury Technicians (Gestha) indicate that in Spain there are close to 1.28 million irregular leases, which makes up an astonishing 40.8% of the total. That means that four out of every 10 rentals are not declared.

If you are interested in La Manga Club property, please get in touch below.

MurciaToday*

Community of owners: What to do if someone refuses to pay their community fees in Spain

What should the board of members do when faced with late payments in communities of owners?

In a community of owners in Spain, each member of the community or homeowner in the urbanisation or apartment block must pay a monthly stipend towards the running costs of the community as a whole.

These are known as ‘gastos de la comunidad’ or ‘community fees’ and must be paid on time every month.

However, as anyone who has ever tried to collect money from a group of people for any purpose will know, not everyone is always willing to pay on time. So how can you make people pay their community fees on time?

The legal experts in community administration in Spain, Resortalia, explains that Spanish law 10/2022, of June 14, on the urgent measures to promote building rehabilitation activity in the context of the Recovery, Transformation and Resilience Plan, actually includes a battery of legal measures aimed at preventing and punishing the late payment of gastos de la comunidad in communities of owners.

One tool the community can use is the ability to fine anyone who does not pay, based on the percentage of interest of the amount they owe. They can also temporarily deprive anyone who doesn’t pay of the right of use and enjoy the community facilities and common areas.

That said, the law is hazy on what specifically a community of owners may or may not do. For example, the courts have, as a general rule, been declaring valid surcharges to the defaulting community member of up to 20% interest, but the law limits itself to declaring that “the board of owners may agree dissuasive measures against delinquency for the time in which it remains in said situation,” without specifying what majorities are required.

As in any co-habitation situation, disputes between members can often be drawn-out affairs that create animosity and awkwardness over the long term. For that reason, the responsibility for many such decisions over dispute resolution are delegated to the management company for the community of owners, which remains as a sort of neutral arbitrator in community affairs.

Resortalia community administrators are experienced experts who run the day-to-day minutiae of many multilingual communities on the Costa Blanca and Costa Cálida. Contact them for advice and help with your community’s needs, management and conflict resolution:

If you are interested in La Manga Club property, please get in touch below.

MurciaToday*

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Welcome to the Farmfoods European Senior Masters Championship

Between 2nd - 5th November 2023, golf fans are going to be treated to one of the most highly anticipated golf events of the year, hosted at the newly refurbished Grand Hyatt La...

Click here to read Welcome to the Farmfoods European Senior Masters Championship.

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