Business & Economy
New airline routes create rising property prices
By Louise Gannon
Jun 20, 2007, 13:14
Accessibility is always an important consideration when purchasing real estate. Properties located in areas supported by a good transport network tend to be easier to rent out and will most likely increase in value.
It's an equally important factor when contemplating overseas property investment. There is little point in picking up the bargain property of the century if it is virtually impossible to get there!
Increasingly, savvy property investors are keeping a watchful eye on where the main low cost carriers are flying to next. And rightly so; the growth in low cost airlines has opened up previously inaccessible areas for holiday makers and investors alike and has been a contributory factor in a series of property booms across Europe.
Take Prague and Budapest for example; once low cost airlines began to offer cheap direct flights, these cities experienced a rise in the number of visitors and a subsequent increase in property prices.
Murcia, located in the South East of Spain is a region that can already boast excellent transport links with most of Northern Europe.
Two international airports already service the region, San Javier is the main airport in Murcia and low cost airlines such as easy jet, Monarch and Ryanair all fly there. Alicante also serves the region and is about a 40 minute drive on excellent roads from the major resort areas of Murcia. It has also just doubled its number of check-in desks to 18 to cope with the increase in visitors.
Good news for property investors and holiday makers alike is that a new international airport is to be built at Corvera, only 15 minutes from the beautiful coast of Mar Menor and 20 minutes from Murcia city centre. Corvera airport will be the same size as Alicante airport and will be privately managed, making it an extremely popular option with the low cost airlines.
In Murcia the provision of airport facilities is further complemented by the fantastic improvements to local infrastructure with new motorways and a link to Madrid via the AVE (express train). When complete you will be able to travel from the capital Madrid to Murcia city centre in just under two hours.
An excellent transport network means holiday makers will be able to visit more frequently, at a low cost and also out of season, creating a captive rental market.
According to a recent survey carried out by Savills Research and Holiday-Rentals.co.uk, properties located near airports are nearly 40% more valuable than properties located in other areas.
So, if you’re looking for the next property investment hotspot, check out where the low cost carriers will be flying to in the future.
Louise Gannon may be contacted at Sunseeker Homes
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