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ARCHIVED - La Manga Club property prices could rise with the arrival of new Grand Hyatt hotel
The arrival of the new luxury hotel is good news for both buyers and sellers, say local property experts
The announcement by the Hyatt Hotel group and the Hesperia investment group that La Manga Club and Resort will have a Grand Hyatt hotel by the middle of this year, following the refurbishment of the former Príncipe Felipe hotel, is opening up new prospects for the resort not only in terms of tourism, but also in real estate, according to the local property experts at Micasamo Realty.
When luxury brands such as Four Seasons, Marriott, Hyatt and Accor are present in an area, they say, it tends to increase the value of residential properties in the area, and it can lead to price increases per square metre of around 20% over their initial value, according to an estimate made by Arum Group, parent company of La Manga Club Properties.
La Manga Club and Resort is a residential and tourist destination located in the Region of Murcia in southeast Spain, home to an estimated 2,300 property owners, the majority of whom are British.
Darren Brown, General Manager of Micasamo Realty, which is based on the Resort, says, “We are delighted to welcome the news of the Grand Hyatt’s presence on our already incredible resort here in South East Spain. La Manga Club has always been a prestigious leisure resort so to get the seal of approval that Grand Hyatt brings us is not only very reassuring but also very exciting indeed.”
The financial hardships of recent times have taken their toll globally and Darren admits that La Manga Club was not immune to this, but he has indicated that for the resort, at least, the worst seems to be behind us.
“As we see the resurgence of our home and holiday destination to many thousands of tourists each year, it is important to acknowledge and pay thanks to all those established and existing businesses on La Manga Club that continued to provide all the facilities required by the residents, second home owners and holidaymakers who continued to come throughout the harder times in the recent past,” he says. “Their hard work and ‘no-quit’ attitude have surely been part of the overall decision by Grand Hyatt.”
Grand Hyatt La Manga Club and Resort luxury hotel
The Grand Hyatt Hotel La Manga Club and Resort will be situated on 560 hectares of lushly landscaped grounds and the hotel’s exceptional facilities will include three 18-hole, championship-level golf courses, extensive outdoor tennis facilities and the La Manga Club Football Centre, which is currently the home of Cartagena FC. The hotel will also have a spa area, two new adult-only pools and numerous dining, wellness and leisure facilities.
The hotel is expected to be open from the second half of 2023, once the refurbishment of the old Príncipe Felipe hotel is completed, and the accompany upturn in property purchases and prices, as well as tourist rentals, could see targets for the first and second quarters of this year moderately exceeded as well thanks to investors who are ahead of the game and who are looking for good buying opportunities before prices rise.
“It is a real coup for us here at La Manga Club,” says Darren. “As far as local residential property prices are concerned, this is hugely positive news for both buyers and sellers. Demand is relatively strong right now and with the news of Grand Hyatt coming out, the interest is hotting up.”
Opportunities to buy and sell property on La Manga Club
He underscores that it is possible for sellers to take advantage of stronger demand in the market, but notes that it is important not to push prices and instead take advantage of the opportunity to have buyers through the door whilst resisting the temptation to try and capitalise at this stage as “prices will not go up overnight”.
“We say to sellers, we will use the positive news to drive demand to what has been a slow market in recent years, get us involved now and we will make sure that our international marketing strategy gets your property the attention it needs to get a successful sale.”
Of course, it’s not just those selling on the Resort who can get a good deal.
“Finally, we say to potential buyers, this place is just incredible even without Grand Hyatt, but with it the dreams of their inclusion will soon be a reality, and with this La Manga Club Resort will once again be the jewel in the crown of Europe’s Golf & Leisure Resorts. If you are selling property on the resort or thinking of buying, we encourage you to contact us now and let us help you explore the amazing La Manga Club Resort. You are in very good hands,” concludes Darren.
Images: La Manga Club
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