Marbella leads property revival with luxury new build homes

Marbella property prices were up nearly 24 per cent in 2013

With new build developments virtually at a standstill in Marbella for the last 7 or 8 years, there are clear signs that the property market is beginning to recover, and it goes without saying that what’s good for Marbella is also great news for the entire Costa del Sol…

Recent data published by the Ministerio de Fomento – the country’s Ministry of Development – confirms that Marbella leads the field with the number of properties sold up nearly 24 per cent in 2013, as well as the fact that it’s the only area in Spain where property prices have started to rise in the last year.

As a recent report in Málaga’s provincial daily newspaper Diario Sur points out, these two hugely significant factors – combined with the inevitable lack of new build property in Marbella – have, perhaps not surprisingly, served as a much-needed catalyst for developers who over the last few years have preferred to hold on to their land rather than incur hefty construction costs.

Now that’s changing. Investors and property developers, both domestic and foreign, are actively selling off-plan once again. But this is no pre-crisis feeding frenzy of yesteryear, nor would anyone want it to be. The new projects breaking the ground – or soon due to – are few in number, of very low density and unreservedly high-end. Located in Marbella’s two most exclusive areas, the prestigious Golden Mile and coveted Sierra Blanca, these new-generation, new build homes are contemporary in style, diaphanous in size, flooded with natural daylight and typically featuring open-plan kitchens, private lifts, private pools and more.

There are villas, apartments and penthouses to choose from, with price tags ranging from €800,000 to a cool €7.5 million.

However, if like most of us, your finances don’t quite stretch that far, then you’ll be pleased to know that currently there are also rather more affordably-priced new build projects available off-plan in, for example, Mijas, Estepona, Elviria and Benahavís because, on the Costa del Sol, there’s something for every budget.