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PARAMOUNT PICTURES IN SPAIN

Over the past few years we’ve heard a lot of talk of Disney opening up a theme park in the Manilva area on the Costa del Sol. In fact, many estate agents sold properties under the premise that Disney were coming and that it would mean that property prices would increase due to the resulting tourism in the area.

Must of us knew all along that this wasn’t really ever going to happen. Disney were not about to put their Paris theme park out of business, even though originally they had planned to build the “Euro Disney” in Spain; the actual location being what is today the Selwo adventure park. The lack of infrastructure in the area is allegedly what put Disney off and chose, perhaps mistakenly, Paris instead.

Now more recently we’ve heard a lot of talk about Paramount Studios opening up a theme park in the Murcia area of Spain. Although originally many people assumed this was another “Disney in Manilva”  moment, the fact of the matter is that the Paramount theme park in Murcia IS going ahead, as has recently been confirmed by Paramount Pictures Spain.

For once some good, positive news!

The Facts

Paramount Studios themselves will NOT be investing in the project. Instead the Murcia Regional Government along with what appears to be a group of investors under the name of Santa Monica Financial Services SA, will fund the project under licence from “Paramount Licensing”.

It is therefore more of a Paramount-branded theme park than a Paramount theme park in it’s own right.

However, this sort of set up appears to be quite a common way of setting up these types of facilities, hence the “Paramount Licensing” division of the company.

The Location

Murcia covers a large area and at the moment no details have been given for the exact location of the theme park, but the favourite at the moment is an area called Alhama, this is where Polaris World are building a large golf resort, but due to the economis crisis, Polaris have sold a lot of the land back to the banks. It is confirmed that the banks involved have offered the land to Paramount at cost, also the banks have expressed great interest in becoming investors in the project.

Timing

The project is this is still at a very early stage so going by the usual timescales for large projects we’re probably look at a minimum of 2 - 3 years before this gets completed.

The Competition

There are already several theme parks in Spain, with two of the major ones being Portaventura  in Salou in the North of Spain and Warner Bros World just outside of Madrid.

Paramount, like Disney and Warner Bros, has the name and the famous characters associated with the brand to ensure it gets a lot of interest, so in a way it is guaranteed to do well, I'm sure.

Accommodation

Most of these large-style theme parks tend to have their own on-site hotels, albeit expensive ones..

Both Disney in Paris and Warner Bros World in Madrid are quite far from anything else. Although you can get a train to either of them, and many people do as they only go for a day, it is much better when you have kids if you just stay in the resort itself.

What Does This Mean For Those Renting Out Properties in Murcia?

Apart from the huge number of jobs that the park will create, property owners in the area are certainly set to benefit too.

Murcia already enjoys a considerable amount of tourism and the Paramount theme park is sure to become a “must go to” destination for visitors to the area. In fact, whilst foreign tourists go to Murcia to soak up the sun, they’ll soon have the option to visit the park whilst they are there.

This is going to be a huge selling point for those marketing their properties for rental in the area. No longer is it just about sun, sea, sand and sangria, soon there will be the option of days out at a top theme park in Spain. For those of us with kids, it really is a great selling point.

In terms of property values in the area, I can see this is going to have a big impact once people can demonstrate that the park is bringing in huge amounts of people looking to rent apartments instead of staying at the resort & this is likely to be the case.

Maybe by the time the park is ready property prices will at least have started to creep up but I can see the park itself when finished having a big effect.

What You Should Do Now To Be A Property Owner In Murcia

So you want to buy a property in Murcia that you rent out for holidays and you’re hoping in a few years time you’ll be able to capture some of the Paramount tourism. There are a few things you can start doing now to position yourself accordingly in the market. Remember that as this gathers momentum, competition will increase so you have to begin now.

Secondly, you need to start looking at property now as prices have bottomed out & now is the ideal time to buy to get the best return in the future. You can begin your search on this website or on our sister website www.alhambravillas.com

You need to be there now because eventually people will start searching for “Holiday rentals paramount murcia” , then you need to begin now as it's only going to get tougher.

PARAMOUNT PICTURES UPDATE

It has just been announced that the location of Paramount Pictures will be in Alhama de Murcia beside Polaris Worlds Condado de Alhama which is only 30 minutes from the coast & will be a huge boost for the Murcia area from a sales & rental point of view.

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