Luxury Real Estate

Courtesy of Rimontgó

Tourism in Murcia received a massive boost recently, when it was announced that Paramount Pictures was to build a theme park in the region.

Competing directly with Disneyland in Paris, this well-known and highly regarded brand will provide a real shot in the arm for Murcia’s already thriving tourist trade. The appeal of such a large theme park will make the area even more attractive to families, a fact that clearly is not lost on Murcia’s Councillor for Culture, Pedro Alberto Cruz, who returned from a trip to Dubai with a letter from Michael Bartok, Executive President of Paramount.

This ambitious project has the added advantage of cinematographic studios, which will become Paramount’s European centre of movie production.

Cruz is already predicting that Murcia will become the leisure centre of Spain, with a 2.5km² complex containing 15,000 hotel beds and creating an estimated 20,000 jobs, which will also be music to the ears of local workers.

The amount of money to be invested has not yet been confirmed, but it is thought that private investors will also be invited to participate in the project.

This announcement will undoubtedly have a positive effect on the property market in the greater region, with insiders predicting a marked increase in demand that will be felt in nearby Alicante and well beyond. Florida – Orlando in particular – experienced a huge upswing in property sales, with families buying holiday homes in the area both as investment and rental opportunities, and also as a base from which to enjoy regular visits to Disney World.

Once construction of the theme park begins it is likely that demand for property in the region will markedly increase, so this is a golden opportunity for investors to purchase real estate at the lowest rate that it will experience for some time.