Fortuna Murcia Property Spain – Real Estate Investing

     Fortuna Murcia Property Spain is rich in history and interest to tourists and spa goers. The City of Fortuna is famous for its many hot springs. For the most part, water is scarce in this area but flows freely in Fortuna, giving rise to a number of natural fountains such as la Cueva Negra, la Higuera or los Banos. These thermal hot springs were popular during the Roman times and for today have converted Fortuna into one of the most important spa towns in Europe.

Information About Fortuna
     The history of Fortuna goes back to the Iberian settlements. The remains of which are still able to be seen in outlying areas such as Capres, Castillejo or Cortao de las Penas. The Arab domination is still very visible in the Castillico de los Moros, which is better known as Moors Castle. The town’s cultural heritage and history is further enriched with the Baroque-style Parish Church called La Purisima, the Convent and the Town Hall which are all constructed in an aesthetic modernist style. The Town Hall also conserves some of the most beautiful panneaux.

     In the nearby surrounding countryside which appears most desert like is covered with the water that flows from its thermal springs. Tourists and visitors alike can discover and admire the Cortao del las Penas. These are two mountain ranges that have been split apart by the movement of the earth. There is also the Humedal del Ajauque and Rambla Salada, protected wetland areas of great beauty.

Information About Murcia
     The City of Murcia is culturally and historically significant and physical parts of the city dates back to 831 AD. There are 2 universities in the town and has a rich vibrant cultural life with restaurants, authentico tapas bars and clubs, endless numbers of festivals and celebrations. The town reached its economic height in the 18th century and as such much of the city’s architure still reflects that time. The landscape in this region ranges from the best unpolluted beach in the world according to the World Health Organization, to breathtaking mountain views, arid plains where some spaghetti westerns were filmed. Perhaps one of the most beautiful places in the area is the Ricote Valley and the River Segura. The Moors of Spain had this as their last stronghold.

Real Estate Investing In Spain Going Down
     People who have been investing in real estate in Spain may need to seek out the therapeutic hot springs for the stress they are experiencing in the Real Estate Market. It seems the mortgage meltdown that started in the US has made its way to Europe. I do not think that there is any part of the world that will be unaffected by this crisis. The state of the Spanish Real Estate market is collapsing. A recent report which was compiled by the consultancy agency Forcadell in partnership with the University of Barcelona presented recently by the experts and professor Gonazalo Bernardos, who stated that practically nobody is selling anything and stresses that there a huge inventory of property for sale in Spain. In fact, according to this report by the end of the year there will be close to a million properties for sale in the Spanish market.
     Francisco Javier Forcadell thinks that actions need to be taken now to assess the real market condition in Spain. He believes that a possible solution may be to allow for a cooling off period in which a large part of the actual inventory of property be absorbed into the real estate market. In recent reports Forcadell was very clear in his warnings over the difficulties the property sector would be facing in the future. The forecasts predicted that the price of property in Spain will go down on average 20% or more between 2007 – 2009. The main reason for this would be excess property inventory and a significant drop in demand.
     Figures from the construction sector show a drop of just over ten percent over last years numbers. Its not just Spain, Ireland saw a 14% drop in the last quarter of 2007 as compared to the same quarter in 2006. Bottom line, it is going to be a bumpy ride in Europe for the next few years in the real estate market. If you are into speculation it could be a good time to buy in Spain and the European market. One thing is for sure, the real estate market never stays the same.