What's The Latest Update On The New Paramount Theme Park?
There appear to be ongoing funding issues with the Paramount Park development in Murcia. However, some good news came to light towards the end of ขายบ้าน last year. It was announced in November 2014 that a subsidy of just over 16 million Euros will be put up by the Spanish government for the development of the park, having got EU approval in place. However, this money will not be received until the completion of the park, now believed to be at some point in 2017. It is understood that this amount comes to approximately 8 per cent of the total construction cost.
Investors in the project are required and it seems they have yet to be found. However, once on board it should be easier to approach banks and get hotel chains involved.
It is estimated that the construction would require 1500 workers, and once built the park would offer 1200 much needed jobs in the region, as well as significantly boosting the local economy in terms of the tourist and property industries.
What Will Be The Impact on Murcia Property?
It is believed that the development of the park will have a significant impact on the property market in the region. Such a major tourist attraction will mean properties in the area will be in demand both in terms of ownership and for rental. It is estimated that the park would bring in an extra three million tourists to the region each year. So nearby residential developments like Camposol, with its extremely affordable villas and apartments, are likely to see increased popularity, and prices are set to rise quite quickly should the park become a reality. At present, in early 2015, a 4 bed Camposol villa with its own pool can be snapped up for only 180,000 Euros, or a two bed apartment for just under 50,000 Euros. With the park site just a short drive away, should development go ahead, it's unlikely property prices will stay this low for long.
Detailed plans were announced in early 2014, outlining the four main areas of the park and their themes, as well as plans for the resort featuring several hotels, condos, an exhibition hall, a convention centre and a 'lifestyle' centre. However, other than the government grant announced in November last year, there has been no firm news as yet on funding. Watch this space.
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