THE Costa del Sol’s construction industry has gotten back into full swing with several exciting projects nearing completion and others just getting started.
From exclusive hillside developments to game changing lagoons, it almost feels like we are back to the good old days, before the financial crash decimated the booming market in 2008. Prices across the country have been increasing at a steady rate. Enness International has pointed to ‘sustained growth’ in the country’s property market following the savage recession that left many developments along the Costa del Sol unfinished. Record-low interest rates, cheap credit and a Europe-wide economic recovery have also helped to attract buyers to Spain.
And Brits, who have been made slightly more hesitant thanks to the Brexit vote, are still buying into the Spanish dream, and for everyone that has backed out, a Norweigan, Swede and German has been there to fill his space. As thousands of cranes are being erected along the coast, we take a look at the most exciting developments looking to shape up Andalucia’s skyline.
There are new luxury developments … Ailse Warriner, Marketing Director for Palo Alto, says: “Our clients are looking for something special that offers them high qualities as well as the option to personalise their home according to their needs. We have buyers from all over the world, both first and second home buyers who appreciate the unique architecture and love the onsite Health Club with indoor pool and spa, concierge service and rental management facilities.” Construction is now underway with Phase 1 due for completion by December 2018. Prices start from €440,000.
Bromley Estates Marbella has just been named by developer Kronos Homes as the exclusive promoter for the newly launched La Finca by Kronos Homes resort. Prices start at €410,000 and prime units are not expected not be around for long. La Finca by Kronos Homes comprises of luxury properties next to La Cañada Golf Course in La Reserva, Sotogrande one of Europe’s finest residential addresses.
True to form, Marbs continues to attract luxury property developers and 2017 is no exception. Pacific Investments plans to build five upscale villas at a cost of €25 million. Each property will sprawl over up to 3,000 square meters and will set buyers back €7 million a pop.
The Island, Estepona
The Island is an innovative residential project located in a tranquil frontline beach setting on the Costa del Sol, offering absolute privacy, luscious surroundings and state-of-the-art amenities. The Island is a true rarity, being one of the only luxury frontline beach complexes with a contemporary architectural design. Prices for the townhouses start at €850,000.