Spanish property buyers to benefit from Paramount
By Sue Brown, 02 Jan 2012
A major leisure project due to start in 2012 is likely to boost Spain’s property market and attract EUR millions in additional inward investment.
In Murcia Province, where the Costa Calida is a late starter in the tourism business, Spanish, American and Chinese investors, are getting underway with a EUR 2 billion Hollywood themed Paramount Park Resort, designed to attract an extra three million tourists a year.
Paramount Park will provide a host of top movie assets like Mission Impossible, Star Trek, Titanic, Shrek and Rango as hair-raising state of the art rides and attractions for all ages. A linked-in business district with exhibition and conference space will have seven new hotels, including a casino, as part of a EUR 500 million investment from China.
The land was formerly owned by developers, Polaris World, who have all of their six top-class golf resorts in the area with Condado de Alhama just 8 minutes away. There are 10 other first-class developments also offering buy to rent villas and apartments for sale, including the bay view Mojón Hills Resort and the upmarket Peraleja Golf Resort.
Specialist brokers, PropertyInSpain.Net has a one-click online search for all bargain properties within the Premium Catchment Area (PCAPP) for home rentals to families visiting Paramount Park.
A new 2-part version of the Paramount Park promotional video, which describes and visualises the commercial aspects of the Lifestyle Centre and the theme park in a blockbuster presentation, can be viewed on the PropertyInSpain.Net video channel.
Property buyers in the PCAPP can expect to rent out for top rates to visitor families, as has been the case with Disney resorts in America and France. Current price discounts of around 50% on key ready bank-owned property is likely to boost rental yields dramatically within the PCAPP, as journey times of under 30 minutes will be possible thanks to new air, rail and road links.
Julio Adams of Med Invest said: “Demand for key ready homes in this area is already high and we expect an equity boost of around 15% for early buyers when the first spade goes in to start construction of Paramount Park.”
IMAGE: Ready for take-off - Star Trek Space Ride at Paramount Park, Murcia
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