Airport to trigger growth in Spain

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AIRPORT TO TRIGGER GROWTH IN SPAIN

Thursday, 03 Apr 2008

The expansion of an airport in south-east Spain could be set to boost the property market in the region, a newspaper has suggested.

According to the Telegraph, Corvera Airport in Murcia expected to be reopened in 2010 after a major upgrade and redevelopment.

The publication believes that this could have a positive impact on the local housing market and push up property values in the region.

Murcia was said to have significant "growth potential" that could make it an attractive market for overseas property buyers.

The newspaper added that house prices in the area are already relatively cheap when compared with the rest of Spain, which means that investors who could possibly snap up a bargain before the houses appreciate in value over the next years.

"Property prices in certain 'emerging' parts of Spain compare favourably with newer rivals such as Cape Verde and Bulgaria," the Telegraph added.

According to the Royal Institution of Chartered Surveyors, house prices across Spain as a whole went up by three per cent last year.

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