The Murcian capital leads the ranking of the most profitable, while the community is one of the five most interesting autonomies to invest in, with a gross rental yield of 6.43%
The idea of becoming a homeowner is always tempting. But when it comes to acquiring a second home, something changes. For starters, you need to have clear objectives, not surprisingly, buying to rent can become a really profitable option. Choosing the best time can be the key to making the investment a success and the Murcian market seems to be at a more than exciting time.
The number of purchases for the first month of the year confirms the recovery of the sector, which lost almost -9.9% in activity volume during the most difficult 12 months of the pandemic. In 2021 alone, the Murcian real estate market recovered 31% of operations compared to 2020 and more than 18% if we compare it to pre-pandemic levels. In January this year alone, 1,751 sales were made in the region, almost 33% more than in the same month of the previous year.
For Ferrán Font, director of Estudios de piso.com: “the real estate sector continues to show its solidity and dynamism and shows that it is one of the safest markets for investors” adding: “In the same way as in the past two years For a long time it has shown great resilience in the face of the crisis created by the pandemic, and it is now showing great resilience in the face of rising interest rates, inflation and the armed conflict that began at the end of February.
The escalation of prices is one of the factors that analysts cite as one of the factors that could partially slow the sector’s growth. In April alone, the average price of second-hand homes in Murcia rose by more than 5% to €1,075/m2. The numbers are even bigger when we look at the capital, where year-over-year growth in second-hand property prices was 9.76% in April, according to the latest sales price report from piso.com.
The rental market in Murcia has also not escaped this upward trend, with prices in the capital rising more than 8% in the last twelve months, compared to 1.92% of the average values recorded in the province as a whole. Renting a house of 90 square meters in the region costs an average of 530 euros. However, the same house in the Murcian capital costs about 740 euros per month, according to the rent report on flats.com for the month of April.
“Although buying a second-hand home is more expensive today than it was a year ago, it is growing below the general price index,” explains Font. For the piso.com expert, “buying and selling remain strong,” although he acknowledges that “data tends to be stable.” supports Font.
Despite the gradual price increase in the region, Murcia is emerging as a very attractive investment country. The Trends Report prepared by the Appraisal Society, which corresponds to the first quarter of the year, shows that it is one of the areas where real estate efforts are less. Based on this research, it would be enough to spend 4.6 years of gross annual salary to become an owner. If we take into account that the Spanish average is 7.2 years or that in neighboring communities such as Valencia or Andalusia the times are considerably higher (5.5 and 6.4 years respectively), the idea of building a flat seems buy in Murcia fairly accurate.
According to data from piso.com, gross rental profitability in Spain was 6.43% in the first quarter, a figure identical to that of the Murcia region as a whole. This percentage places autonomy among the five most profitable in Spanish territory, surpassed only by the data recorded in the Canary Islands (6.72%), Aragon (7.29%), Extremadura (7.88%) and Castilla La Mancha (7.93%).
However, with a return of 7.5%, the Murcian capital leads the absolute ranking among its peers, with the first position followed by Zaragoza (6.33%), Seville (6.24%), Las Palmas (6.06%) or Oviedo (6.02%).
Source: La Verdad