The steady growth of the property sector in Marbella has been confirmed by recent figures published by the Ministry of Public Works (Fomento). The numbers showed that Marbella was the town with a population of 25,000 or more with the highest property prices in Andalucía, with the average cost of a square metre coming in at 2,711 euros, some 60 per cent higher than in Malaga city.
The study, which looked at properties up to five years old, puts Marbella in the top six most expensive in the country, alongside locations such as Barcelona, Madrid and Calviá.
The figures showed that since 2014, when the economy first started to show signs of recovery, the cost of a square metre has increased by 20 per cent, some 500 euros.
As for property built more than five years ago, the average cost has risen from 1,965 euros to 2,127 in the same period. The majority of housing ‘stock’ in Marbella, however, is of buildings constructed after 2012.