A luxury villa is a small to medium business in itself. Not only does its design and construction generate employment, but so does its later use, and as a result the high end residential property sector is now said to be the leading industry on the Costa del Sol. The association 'DOM3 Empresarios para la Vivienda de Alta Calidad' points out that this sector generated 450 million euros last year, of which 175 million were taxes, and created 5,000 permanent and 15,000 indirect jobs.
The 'Golden Triangle' formed by Marbella, Estepona and Benahavís has the highest volume of this type of business. In 2018 more than 100 luxury villas and high end apartments were built in this area.
The president of DOM3, Laura Pou, says an apartment is considered top of the range if it costs around 600,000 euros, and a villa two million euros, with other factors taken into account such as quality, design, architecture, location, technology and energy efficiency, among others. "We are keen to ensure that maximum standards of quality apply to this type of property, from start to finish," she says.
Many purchasers are foreigners, including British, Belgian, French and Swiss, but this type of property in this area is also popular with Spanish buyers.