Squatted homes in Murcia are becoming a growing market for investors
Banks and large funds are selling illegally occupied properties in Murcia at discounts of 30% to 60%
In the Region of Murcia, there has been a noticeable rise in the sale of homes that are occupied illegally by squatters as banks and major investment funds are offloading these properties at significant discounts, ranging from 30% to 60% below their market value.One striking example is a listing for an 87-square-metre, three-bedroom apartment in Alguazas, priced at just 17,700 euros. However, purchasing these properties comes with restrictions.
As one advertisement states: “It does not allow physical visits. This situation has been especially taken into account when setting the price.” This means buyers are often unable to view the property in person before committing to the purchase, making these transactions even riskier.
Prices for occupied properties in Murcia often range between 40,000 euros to 60,000 euros, a substantial reduction compared to the market value of similar homes in the area, which can reach up to 120,000 euros.
The process of purchasing an occupied home isn’t without its challenges. Buyers often face lengthy legal battles to evict squatters, but the substantial price cuts make these properties attractive to investors willing to take on the risk of, for example, trying to evict the occupants or wait for them to leave.
Despite these risks, there is no shortage of investors eager to purchase properties in urban areas where demand is high. With the right legal advice and a willingness to navigate the process of evicting squatters, many investors see the potential for significant profits once the properties are freed from squatters.
Purchasing an occupied property can incur additional costs beyond the initial purchase price. Legal fees and potential repair costs can add up, so prospective buyers must weigh these expenses carefully against the potential savings from the discounted purchase price.
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