A privileged area, surrounded by greenery, nothing to block the view, very few neighbours, top quality and an innovative design. These are the characteristics demanded by the new property market which is being reborn on the Costa del Sol. The macro-developments, all looking the same, which mushroomed along the coast during the boom years, have been left behind.
Following the crisis the sector is starting to reactivate, thanks to projects which are based on luxury: residential complexes with a very few, very exclusive properties which are, logically, designed for those with ample budgets.
In Marbella, several of these are to be found now. Avenida Príncipe Hohenlohe, otherwise known as the Golden Mile, and Sierra Blanca are the main attractions for investors, many of whom bought land some time ago but were reluctant to build on it because of the plunging property market. Now, signs for show houses are reappearing and off-plan sales are becoming a reality once again.
The latest figures place Marbella at the head of the ranking of Spanish destinations with the greatest number of properties sold. It has also been the only town in which prices have risen during the past year. Constructors are confident that this trend will continue.
Another factor which favours the construction sector in Marbella is the lack of existing stock. There are very few unsold properties and those that exist are not arousing interest.