CONTENTS: INTRODUCTION, WHAT IS A HOTSPOT?, JOLLY HARBOUR, ANTIGUA - ST. JAMES, BARBADOS - GOLDEN SANDS, BULGARIA - DUBROVNIK, CROATIA - DUBAI, UAE - EL GOUNA, EGYPT - FORTALEZA, BRAZIL - ACCRA, GHANA - GOZO, MALTA - BUDAPEST, HUNGARY - KINSALE, COUNTY DONEGAL, IRELAND - LIMASSOL, CYPRUS - CANCUN, MEXICO - NATAL MIDLANDS, SOUTH AFRICA - NAXOS ISLAND, GREECE - MOUNT MAUNGANUI, LEIGH, NEW ZEALAND - NIMES, FRANCE - ORLANDO, FLORIDA - PANAMA CITY, COSTA BLANCA, PANAMA - KRAKOW, POLAND - LAGOS, REDONDO, PORTUGAL - MURCIA, SPAIN - UNAWATUNA, GALLE, SRI LANKA - PHUKET, PATTAYA, THAILAND - FETHIYE, TURKEY - ISOLA D’ELBA, TUSCANY - QUEENSLAND, ADELAIDE
| MURCIA, SPAIN | ||||||||||||||||||||||
| C O U N T R Y
D A T A
| Population | 40.04 million persons | ||||||||||||||||||||
| PopulationGrowth | 0.100% | |||||||||||||||||||||
| Land Area | 499,400 sq km | |||||||||||||||||||||
| Currency & exchange rate | 1 Euro = 100 cents (~ 0.664 GBP) | |||||||||||||||||||||
| GDP-PPPMethod | 678,859.0 millions of US dollars | |||||||||||||||||||||
| GDP Growth | 2.59% | |||||||||||||||||||||
| GDP Per Head | 16,955.0 Thousands of US Dollars Per Person | |||||||||||||||||||||
| Financial | Interest Rate | Inflation Rate | ||||||||||||||||||||
| 2% | 3.6% | |||||||||||||||||||||
| National Bank | Banco de España | |||||||||||||||||||||
| Political | There are 17 comunidades autonomas (autonomous regions): These regions have a regional parliament and a government with varying degrees of powers on local affairs. Three regions with a tradition of autonomy and their own language – the Basque country (Euskadi), Cataluñya and Galicia – have wider powers. The Basque government, for example, raises its own taxes. King Carlos became head of State upon the death of general Franco in 1975. Between 1982 and 1996, Spain was governed by the Spanish Socialist Workers Party (PSOE). The 1996 elections were won by the right-of-centre Popular Party (PP) led by Jose Maria Aznar. PP won again in 2000 before dramatically losing the role again to José Luis Rodriguez Zapatero of the PSOE in March 2004. During Aznars time in office, he was judged to have handled and improved the economy. The latest elections proved to have a global interest. Aznars PP were comfortably ahead in the polls in advance of the 2004 elections. However, devastating bombs in the capital Madrid, put the entire country in turmoil a few days before the elections. PSOE surprisingly won by 164 against 148, forming a minority government. Aznar stepped down as leader of the PP in September 2003. | |||||||||||||||||||||
| Social Security | Yes | |||||||||||||||||||||
| Languages | Castilian Spanish, Catalan, Galician, Euskera (Basque), Valencian, Majorcan | |||||||||||||||||||||
| Customaries | Spanish life has undergone rapid change in recent years and many of the stricter religious customs are giving way to more modern ways, particularly Spanish life in the cities and among women. Despite this, many old customs, manners and traditions have not faded and hospitality, chivalry and courtesy remain important. Handshaking is the customary form of greeting. Normal social courtesies should be observed when visiting someone’s home. Smoking is widely accepted | |||||||||||||||||||||
| Ethnic Make-up | In addition to Spaniards, there are several minor groups, including Gypsies, Portuguese, Latin Americans and North Africans | |||||||||||||||||||||
| Tax | Income Tax | Capital Gains Tax | ||||||||||||||||||||
| Total tax liability consists of the tax liability computed under the general rate plus the tax liability computed under the autonomous community rates. The maximum marginal rate is 48%. Income derived from non-residents is generally subject to a final withholding tax of 25%. Capital gains from a permanent establishment are subject to a 35% final withholding tax. | Capital gains are calculated as the difference between the transfer price of an asset and its acquisition price. Acquisition prices of real estate are indexed by applying co-efficients determined by the government. Capital gains held longer than one year are taxed at a rate of 18%. For less than one year, it is taxed in the taxable income bracket.
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| Description | Spain has a mixed economy with large agricultural and industrial sectors, and important tourism and banking industries. Spain has a vast tourism industry mainly servicing visitors from northern Europe. In addition it has fishing, construction, wine, cement, chemicals, engineering and telecommunications. Its major trading partners are the EU, Latin America and Japan. Even though Aznar has done well for Spain economically, it is still suffering from the transitional period that was necessary for EU membership. Spain still has the highest unemployment rate amongst industrialised nations in western Europe in 2003 at around 11.4%. The global slowdown has also dented the GDP of Spain and consumer confidence has dipped. | |||||||||||||||||||||
| L O C A L
D A T A
| Investor Profile: | Cash & Equity Investor Pension Investor Holiday Investor Retirement Investor Downshifter Investor Business Investor | ||||||||||||||||||||
| Category: | Bronze | |||||||||||||||||||||
| Population:
| Total | British | ||||||||||||||||||||
| 1,190,000 | 2000 | |||||||||||||||||||||
| Climate: | Hours of Sunshine Per Day in Summer | Days of Rain Per Year | January | July | Average Water Temp. | |||||||||||||||||
| 10 | 14 | 15C | 30C | 20C | ||||||||||||||||||
| Proximity to: | Airport | Beach | Nearest City | |||||||||||||||||||
| San Javier Airport is at a distance of 47 km from the city of Murcia by dual carriageway | Costa Calida | Cartagena | ||||||||||||||||||||
| Restaurants and bars: | There are a great number of bars and squares where you can enjoy a delicious appetiser in the open air. Some of the most popular bars are situated in Plaza San Juan. At the Weekends, the bars serving tapas in Plaza del las Flores and la Plaza Mayor are much frequented. Many bars line the pavements, mingling with the students and academics of the town frequenting the coffee shops and bars. | |||||||||||||||||||||
| Sports and leisure facilities: | Potholing routes through caves, horse-riding, rural activities, white-water canoeing, cave-diving, deep-sea diving, paragliding, hang-gliding, distillation of aromatic plants, thematic routes, camping. | |||||||||||||||||||||
| Transport: | Public Transport | Roads | ||||||||||||||||||||
| The railway network, with the imminent incorporation of the high-speed train (AVE) connecting Murcia with Madrid and the Valencia region provides excellent facilities to reach other parts of Spain. The good bus network in Murcia itself is a viable and efficient way of travelling throughout the Murcia region. | A lot of investment has gone into upgrading the road network and the improvements in the construction of motorways, have made it possible to enhance links between the different townships within the region and at the same time to with the rest of Spain. | |||||||||||||||||||||
| Crime rate: | Low | |||||||||||||||||||||
| Main types of employment | Educational, service and business | |||||||||||||||||||||
| Future plans: | Licences are being finalised for a new airport near Corvera that will operate 24/7 serving an increased number of flights from England using low-cost carriers. | |||||||||||||||||||||
| Yield range | 6 – 9% | |||||||||||||||||||||
| Type of property | Entry Price | Rent- Peak | Rent- Off Peak | Average Annual Yield | ||||||||||||||||||
| 2 bed apartment | £40,000 | £300 | £230 | 8.1% | ||||||||||||||||||
| 3 bed apartment | £45,000 | £330 | £230 | 6.9% | ||||||||||||||||||
| 3 bed townhouse | £50,000 | £400 | £300 | 8.4% | ||||||||||||||||||
| Detached | £60,000 | £400 | £300 | 7% | ||||||||||||||||||
| Demand for letting | Peak | Off peak | ||||||||||||||||||||
| Very high | High | |||||||||||||||||||||
| Finance and leisure scores: | Total (out of 10) | Financial (out of 5) | Leisure (out of 5) | |||||||||||||||||||
| 7 | 3 | 4 | ||||||||||||||||||||
| Flights scheduled from: | London Stanstead, Birmingham, East Midlands, Dublin | |||||||||||||||||||||
| Typical cost of flights: | Peak | Off Peak | ||||||||||||||||||||
| 180 - 250 GBP | 50 – 100 GBP | |||||||||||||||||||||
| Operators: | Buzz, BMIbaby, Ryanair | |||||||||||||||||||||
| Description: | A very historic city, offers insights into everyday Spanish life, as well as a rich legacy of art and contrasting cultures. Greeks, Romans, Carthaginians, Phoenicians and Moors have all left their mark. An unexplored region yet to be fully discovered by holidaymakers. We had to include Spain! There is a constant shortage of rental properties in Murcia, especially town houses and villas for long-term lets. This has driven the price up of town house and villas due to the business investors moving in. But there are still some to be had and you’ll have no problem letting them. Mucia is one of the hottest resorts and the season is almost all year round. Rental demand is consistent throughout the year and will be in the future. Yields will be stable for at least the next 5 years. There is no sign of major capital growth, even though above average, within this time but over the long term it will move above average. | |||||||||||||||||||||
| Hot Website: | www.murcia-turismo.com | |||||||||||||||||||||
| Estate Agents: | Name | Address | Tel | Web | ||||||||||||||||||
| Orma Inmobiliaria | Cille Juan Ramon Jimenez Cehegin Murcia Spain 30410 | +34 659222091 | contacto@spanish-houses-orma.com
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| Properties Murcia | C/Emeterio Cuadrado, 1 Bajo - 30562 MULA (Murcia) SPAIN | +34 968 66 26 59 | www.propertiesmurcia.com
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| INMOCENTRO | Gran Vía de La Manga, Urb. La Gola, local nº 1 MURCIA | +34 968 56 46 76 | ||||||||||||||||||||
| IMPROSURESTE, S.L. | Plaza Bohemia, 54A, Bajo A MURCIA | +34 968280310 | ||||||||||||||||||||
| Letting Agents: | Name | Address | Tel | Web | ||||||||||||||||||
| Properties Murcia | C/Emeterio Cuadrado, 1 Bajo - 30562 MULA (Murcia) SPAIN | +34 968 66 26 59 | www.propertiesmurcia.com
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| INMOCENTRO | Gran Vía de La Manga, Urb. La Gola, local nº 1 MURCIA | +34 968 56 46 76 | ||||||||||||||||||||