Selling without moving: A growing property trend in Murcia

More homeowners are choosing to sell their property while keeping the right to live in it

In the Region of Murcia, a property trend is becoming more popular: selling your home while keeping the right to live in it. This is known as ‘nuda propiedad’ (naked ownership), which allows homeowners, often retirees, to unlock some cash from their property without having to leave their home.

With a nuda propiedad sale, the owner transfers the property’s ownership to a buyer but retains a ‘usufruct,’ the right to live in the home for the rest of their life. Buyers pay less than full market value because they must wait until the owner passes away to use the property themselves. It’s a setup that can work for both sides, the seller gains financial flexibility, while the buyer invests in a property for the long term.

How common is this in Murcia?

This trend is growing in Murcia. In 2024, 85 transactions of this type went through, up from 62 in 2023 and 59 in 2022, roughly a 40% increase. Back in 2020, there were only 46, meaning the number of these sales has roughly doubled in five years.

Homes sold this way tend to be around €127,000 in value, with an average size of 88 m². Investors are often attracted by the potential long-term returns, estimated at 5–7%, while owners benefit from cash without leaving their homes.

A typical example

Imagine a retired couple in a small Murcia town who decide to sell their apartment but keep living in it. The property is valued at €120,000, but with the lifetime reservation, the buyer pays less, reflecting the years they must wait to move in. The couple receives the money they need to cover living costs or healthcare, while continuing their day-to-day life in their home.

For many people, the main appeal is being able to access cash without having to move out, which can help with everyday costs to supplement a pension. Depending on the agreement, some of the ongoing responsibilities for the property may also be reduced. The trade-off is that the home is no longer fully owned, there is less flexibility if plans change later on, and any rise in the property’s value will benefit the buyer, not the person living there.

A few simple factors are behind the rise: people are living longer, pensions are often not enough to cover everyday costs, and many homeowners have most of their money tied up in their home. For some, this offers a way to make life a little easier in later years without having to move, and it’s slowly becoming more common in Murcia.

Images: Archive