Building boom

Betty Henderson MARBELLA continues to entice investors thanks to its many credentials, and the city council is keen to make the most of this trend. The council recently approved planning licences worth a staggering €3 million.

Félix Romero, the spokesperson for Marbella City Council, announced the news on Tuesday, June 13, highlighting the city’s remarkable appeal for investors.

The licences which have been approved include one noteworthy project for a ‘foreign children’s educational centre’ in the Rocio de Nagueles area, covering 546 square metres with a budget of €601,593.

Luxurious dreams will also become reality with oth­ er licences granted for two opulent family homes in Nueva Andalucia. One property boasts an impressive investment of €917,000, while the other stands at €536,000.

IN the realm of luxury living, Marbella stands as the crown jewel of Spanish cities, boasting the third highest property prices nationally according to the latest quarterly ranking by Idealista, released on Monday, June 13.

Marbella took the third spot in the national ranking only behind nearby Benahavis where property sells for a whopping average of €1,902,825. Marbella came after Calvia in the Balearic Islands, which boasts an average price of €1,579,287.

The average cost of a home in Marbella is €1,369,276, evidence of its continued allure for high­end property buyers.

Both locations on the Costa del Sol have maintained their positions at the top of the property ladder, just as they did in the 2022 ranking, with average prices of €1,648,469 for Benahavis and €1,059,255 for Marbella.

Idealista’s analysis investigated more than 1,300 property listings priced at an average of €1,100 per square metre across various locations to compile this report.

It seems Marbella reigns supreme in the world of luxury property thanks to its glamorous reputation, yearround sunshine and excellent quality of life.

Planning permission was also granted for the construction of eight homes on Calle Rio, with a total value of €808,000.

The council is currently in a transition period after the local elections on Sunday, May 28, with the official declaration of the new council set to take place on Saturday, June 17. However, Romero’s announcement spells good news for the council’s next term, with plenty of positive developments expected.