DEMAND FOR MARBELLA PLOTS GROWING
As the property market carries on growing in Marbella the demand for building plots has risen apace.
Not only are new build properties selling fast as promoters work hard to satisfy the strong demand for modern apartments and villas that resurged in 2013, but the sale of individual plots in sought after areas of Marbella has accelerated too, as people look to have their dream home built to their precise specifications.
Indeed, for the first time in years—going back to before the property crash of 2008—residential, commercial and tourism projects are all on the rise, as evidenced by Marbella Town Hall giving the go ahead to €47milion worth of construction applications in the space of just five months.
Marbella building land increasingly scarce
The upshot of this is that building land—whether for apartment blocks or individual villas—in the most sought after areas is increasingly scarce, with buyers competing for the best plots, especially those with sea views and near amenities.
Marbella Direct has for many years specialised in the sale of building plots, and as such is well placed to see how demand—and therefore prices—for land has been rising. Nationally, that price rise was 5.9 per cent in the first quarter of 2015 and, according to the government website La Moncloa, urban areas with a population of more than 50,000 people saw increases of 38 per cent in the course of 12 months.
Low Euro making land cheaper for foreign investors
A number of factors have been contributing to this growth. For investors outside the Eurozone the relative weakness of the Euro has seen potential returns from the purchase and development of land in hotspots like Marbella increase substantially.
For individuals wishing to build a private villa in the area, other factors that are increasingly important include the desire for contemporary homes with the latest gadgets and luxuries built in. With the present shortage of new build developments in Marbella the option of building their own home to their required specifications is increasingly popular – just make sure that the land in question falls under the 1986 PGOU planning directive.
If you are looking for land, Marbella Direct has a selection of plots available in the most popular parts of Marbella and its surrounding areas, including La Zagaleta, Marbella Club Golf Resort and the up and coming area of Elviria. Please contact us for more information.