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Tuesday, July 21st, 2015

Increase in the demand for plots of land fit for property construction in Marbella

Despite little activity in recent years in the construction of new homes on the Costa del Sol, the situation is beginning to change. Architects are now conducting new projects and the cranes and diggers are starting to get to work on new terrains.

Plot in Montemayor

The recent economic crisis in the construction industry caused a standstill within the entire sector, further undermining home owners that were hoping to receive better offers, so that they could sell their land. However, their patience has been well worth the wait, as the demand for plots of land to construct new properties, is once again increasing.

The statistics show that in the last quarter of 2014, the price of Spanish land has risen by 5.2% and there is an ever growing demand for plots of excellent quality with great locations. If we compare the statistics with the same time period in the previous year (2013), we can see that sales have risen significantly.

After several years, we are finding a new wave of development in construction projects in various sectors, such as tourism, commercial and residential. The majority of which are brand new projects, but some are also previous projects, that were stalled with the arrival of the financial crisis, and are now conducted by banks or investment companies.

This notable increase in the construction sector in Marbella is a result of factors such as the upsurge of international investors from the United Kingdom, thanks to the force of the continuing strength of the pound sterling, and also the interest of acquiring a luxury property on the Costa del Sol, as demonstrated by foreign buyers from areas in the north of Europe, such as Scandinavia, Benelux, Germany and Russia.

As a way of winning back investors into the market, some much more affordable land prices and construction costs are being offered. What´s more is the increasing demand of villas and apartments that accommodate the latest styles, comforts and technologies.

The media announce that, after a long period of time, there are once more building plans for new residential areas consisting of villas or apartment complexes in Marbella., With the real estate sector having been subdued by the reselling market during the last few years, this comes as a huge boost of optimism to the industry.

DM Properties has a dedicated section on the website for plots and land in Marbella.

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