New construction boom on Costa del Sol.
It looks like 2017 is going to be a year to remember in the Costa del Sol’s property market. News like this represents a final confirmation that the difficult years of the recession are over and that real estate in Marbella is in a state of complete recovery. This is certainly the view we can glean from the latest statistics released by the Colegio Oficial de Arqitectos, which indicate that the number of authorised plans for new homes is steadily on the rise.
The figures, which relate to the first six months of 2017, and include a five-year historical trend, show that 2,442 plans were approved in Málaga province during that period, compared with only 1,223 in the same period of 2016. And, if we look back to 2012, the total was only 603. It is interesting to note where the most buoyant areas are. Málaga city is a magnet for property investors and sees 644 new builds in 2017 compared with 277 last year. However, Marbella, Estepona and Mijas are also experiencing significant growth. Marbella has 134 plans for apartments and houses approved so far; a decided increase on 77 in 2016 and only 23 in 2012. Mijas, meanwhile, has 289 approvals in 2017. It’s a smaller increase than in Marbella, as Mijas had 266 in 2016, but indicates consistent, healthy growth. Estepona, which is becoming ever more popular, has 246 plans passed for 2017, almost double the number for 2016. The statistics show that in 2012 only seven constructions were approved in Estepona, which gives you an idea of just how much growth this municipality has achieved.Emilio López, president of the association of builders and developers, is extremely positive about the direction that Málaga province is going in and told reporters, ‘The recovery is becoming more evident.” He believes it is possible that 5,000 plans will be approved before the end of 2017, which is excellent news for anyone looking for a new build property in Marbella, Estepona and Mijas.
Please contact Altavista Property if you would like to know more about modern properties for sale in Marbella. We are specialists in this field.
