Tucked away in a lesser known south-eastern part of Spain, Murcia's property market is set to benefit from the construction of its own international airport this year.

The increased accessibility the airport will afford the area a likely increase in the number of tourists and overseas property investors flocking to the region, which is best known for its Mediterranean coastline, favourable climate, vibrant capital city and wealthy cultural heritage.

Murcia's new International Airport will be located in Corvera and is projected to bring in the region of 1.5 million passengers a year when it opens in late 2009, increasing to over 5 million by 2015.

"This is set to grow and will introduce many new people to the area," says Mike Hamilton from Casas de Lorca. "There is also a new coastal motorway already opened and a new high-speed rail link, linking Murcia up with the rest of Europe."

Indeed, as well as infrastructural improvements there are a number of developments underway in Murcia, including the construction of several golf courses that will see the region build on its popularity as a holiday and property investment destination.

Murcia's landscape, featuring soft sandy beaches, pretty fishing villages, a mountainous and rural interior and the largest salt-water lake in Europe, already attracts thousands of tourists and property investors to the region every year.

According to figures from the Ministry of Tourism and Commerce, tourist levels in the region grew by 18 per cent last year, while flights to Murcia exceeded the national average in terms of visitor increase as passenger traffic at San Javier Airport grew by 23 per cent to two million in 2007.

The Spanish Ministry of Housing also notes that Murcia is the third most popular province for foreign investors to purchase property, after the Spanish holiday resorts of Alicante and Malaga.

Whereas property prices in many of the most well-known areas of Spain have declined in the last 12 months, prices in Murcia have continued to rise steadily at about 4 per cent year on year although Murcia property remains over 10 per cent lower in price than the average price of other areas in Spain.

Hamilton is optimistic that this growth will continue: "Murcia's property market will continue to grow because of the excellent climate, miles of beautiful coastline, new airport and improved infrastructure," he says. "The highest level of growth in Spain is in the relocation-market where emerging Eastern European and African markets struggle to compete.

Due to the large amount of land still to be developed, acerages are relatively inexpensive and readily available in many parts of Murcia so you could pick up more than a small slice of this up-and-coming region.

The Casas de Lorca residential project near the town of Lorca in Murcia features custom-tailored villas located on five acres of land. These properties are for sale from £196,900 for a four-bedroom villa.

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Article first published 26 February 2008