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More than 2,200 new homes are set to be developed across the Region of Murcia over the next three years in a major private housing programme aimed particularly at young people and families struggling to buy their first home.

 

The €647 million initiative comes as house prices continue to rise across the Region, putting increasing pressure on buyers who are already facing the challenge of finding affordable homes.

 

Known as ACCEDE, the programme will deliver 2,226 homes across several municipalities and strategic areas, with more than 218,000 square metres of buildable land already acquired for the developments.

 

Almost 60% of the planned homes are expected to have a sale price of between €2,000 and €2,500 per square metre. They will be specifically aimed at first-time buyers, with financing options and purchase conditions designed to make them more accessible than properties on the traditional market.

 

Buyers who qualify for public housing assistance will also be able to combine those subsidies with the ACCEDE programme, potentially making the cost of purchasing a first home more manageable.

 

The developments will be spread across a wide area of the Region rather than concentrated in a single location. Planned projects in Murcia city include areas around Avenida Príncipe de Asturias, Ronda Sur, Avenida Reino de Murcia, Barriomar, Teniente Montesinos and Juan de Borbón.

 

Other developments are planned in El Palmar, Alcantarilla, Los Dolores and Churra, while coastal projects are expected in Lo Pagán, Santiago de la Ribera and Águilas, among other locations.

 

The programme is particularly significant at a time when younger buyers are increasingly finding it difficult to save enough for a deposit while keeping up with rising property prices and mortgage costs. Increasing the number of homes available for sale is one way of addressing the imbalance between demand and supply that has been putting pressure on the market.

 

The developments won't all consist of traditional blocks of flats. The programme will include collective housing as well as mixed-use projects incorporating residential, commercial and service areas, creating new urban spaces alongside the homes themselves.

 

There could also be an economic benefit beyond the additional housing supply. The construction programme is expected to create hundreds of direct and indirect jobs across construction, architecture, engineering, related industries and services.

 

The company behind the programme, INVERSUS, is due to officially present ACCEDE at the end of September, when it is expected to reveal the first developments to go on sale, the marketing timetable and the detailed conditions for young buyers and families.

 

The first projects will therefore provide a clearer picture of exactly how much of the planned housing will be available to first-time buyers and when they will be able to apply.

 

 

Image: INVERSUS