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Artist's impression of the Med Hills housing development in Torreblanca del Sol. SUR
New development of almost 400 homes which is 85% sold proves ‘Fuengirola is a real estate enclave of the first magnitude’
Property

New development of almost 400 homes which is 85% sold proves ‘Fuengirola is a real estate enclave of the first magnitude’

The Med Hills project, in the Torreblanca area of the Costa del Sol town, is expected to be ready in 2025 and will consist mostly of two and three bedroom apartments, along with several penthouses and duplexes

Lorena Cádiz

Fuengirola

Friday, 3 May 2024

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Below the A-7 Costa del Sol motorway, in an expansion area for the municipalities of Benalmádena and Fuengirola a development of 396 homes is currently under construction. In this case it is in the Torreblanca area of Fuengirola and this is the Med Hills real estate project. Some 85 per cent of the development has already been sold, according to the figures provided by its marketing company, Savills, which puts the number of homes still to be put on the market at 63.

The complex that is currently available "has a south-west orientation, sea views and consists of the most exclusive homes", explained the consultancy firm. The flats have between two and three bedrooms, and among them there are penthouses with terraces, and ground floor duplexes with cellars that include a private garden. Although the marketing company has not revealed the exact price of the properties that are now coming onto the market, they explain that among those already sold, most of which are two- and three-bedroom apartments, the average price has been between 207,000 and 292,087 euros.

All of the properties are integrated in a residential complex of contemporary architecture distributed between two buildings of four and five floors, which has gardens, swimming pools, a playground, coworking area, multipurpose room, gym, sauna, car park and social club in its communal areas.

"Fuengirola continues to be a real estate enclave of the first magnitude, as evidenced by the 11 per cent increase in prices in new housing during 2023, according to data from the ministry of housing and urban agenda. A fact that confirms the growing demand from investors that allows it to align itself with such dynamic municipalities as Marbella, Estepona or Malaga city," the real estate consultancy pointed out.

The investment in this housing development exceeds 60 million euros, and has generated more than 250 jobs, and "has contributed to the urban consolidation of Torreblanca del Sol in Fuengirola", according to Savills. The project is being developed by Amenábar and has the backing of Banco Santander.

Customer profile

The profile of the client who is interested in Med Hills, according to the marketing company, is that of national investors from areas such as Madrid and, in the case of Andalucía, Cordoba, as well as foreign buyers with medium-high purchasing power resident in the United Kingdom, the Nordic countries, Germany, France and the Netherlands. These are couples or families with older children looking for a second home close to the beach with a swimming pool and terrace. Potential buyers value, above all, accessibility to services such as supermarkets, restaurants and public transport.

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