Spain’s Murcia region last week came a step closer to becoming the “Orlando of Europe” after the promoter behind the planned Paramount theme park there completed the purchase of land needed for the leisure attraction.

The arrival of this much anticipated theme park will be a shot in the arm for the region and its property market, which currently includes thousands of repossessed homes spread across a number of golf resorts. Buying a home next to the site of the Paramount park is being compared to investing in an Orlando home before Disney World or Universal Studios were built.

Officially presented in October last year in Madrid, the Paramount project requires an investment of more than one billion euros but will create no less than 22,600 construction and operational jobs and hopes to attract upwards of three million visitors each year from around the world. The Theme Park will be divided into four areas to include two themed hotels whilst the LifeStyle Centre will count seven hotels, restaurants, bars, nightclubs, shopping mall, casino and a business district with modern office space, an auditorium and convention centre.

Premursa has been granted the licence to construct and operate the park, exclusively in Spain, for an extendable 30-year period. The economic impact of the project could make up two per cent of the region’s GDP in forthcoming years. The theme park and first phase of the LifeStyle Centre is expected to be open to the public by mid 2015.

Steve Long of CasaCalida Properties, an agency that has been selling in Murcia for a number of years, said the park would be a boost for the region and its holiday rental market.

For details of property for sale in Murcia, as well as all property for sale in Spain, visit the Spanish listings on Rightmove Overseas. One way to save money when buying in Spain is to use a currency specialist when transferring your pounds into euros to complete the purchase of your property. For more information on this, contact Smart Currency Exchange.

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