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Murcia Recommended as The Best Region for Economic Investment

THE MAGAZINE Fdi, part of the Financial Times group, has named Murcia as ” the region with the best economic potential for foreign investors”, at the close of voting for “European Regions and Cities of the Future 2004/2005″ The panel gave its unanimous vote in favour of the Murcia region as the one with the most potential in Spain and Portugal. More than 140 European regions participated in this contest and, in addition to Murcia, other cities and European regions such as Copenhagen and Hamburg were given awards. The participants in the contest had to produce an extensive and informative dossier covering 33 quantitive criteria. MURCIA has grown from one of the cheapest areas in Spain for property to one of the fastest growth areas. Latest figures from the Ministry of Housing report another period of record growth. According to official data from the Ministry of Housing for the Region of Murcia registered the biggest increase in house prices in the second quarter of this year with an increase of 25.71 per cent, 7.75 points above the national average. This means that the region has experienced an accumulated increase during the first six months of the year of 11.63 per cent. The price per constructed square metre in the region is €1,242 well below the national average of €1,614. Overall in Spain, the average price per constructed Square metre rose to represent an increase of 17.42% on the figure of €1,426.61 recorded for the second quarter of 2004. PATRICIO VALVERDE, Minister of Economy, Industry & Innovation has received the data of the 2004 Index of Prices up to September and is pleased that the inflation rate for the Murcia region is below the national average. This nine month period showed an inflation rate of 2% for Spain, but the inflation rate for the Region of Murcia is only 1.8% This figure, combined with a regional growth of half a point above the national average, ” puts us in an enviable position” according to Minister Valverde, and is a good base for future increase in success and productivity of businesses in the region.

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