LUXURY housing in Malaga’s so-called ‘Golden Triangle’ is leading the way in the resurrection of the construction industry.

The ‘Golden Triangle’, made up of Marbella, Estepona and Benahavis, is seeing an increase in both the sales of homes and in the construction of luxury housing.

During January and February of this year, Marbella Town Hall has seen an increase of 20% in the licences for luxury homes.

So far the town hall has authorised licences for 18 new housing projects with a combined worth of over €9million.

If construction carries on at this pace, the number of projects for 2014 could be double that of last year, which ended with a total of 64 licences issued.

But Pablo Moro, the councillor in charge of town-planning in Marbella, emphasises the need for caution in analysing the data.

“What we are seeing in this data is that the growth curve from last year is continuing,” said Mr Moro.

According to data provided by the Malaga College of Architects, in the period between January 1 2012 and the current date, 119 houses have been built with a building cost of more than €300,000.

Of these housing projects, 62% were in Marbella, with the rest in Benahavis, Estepona, Manilva and Ojen, and two in Antequera.

The majority of homes were built by British, Scandinavian and other European buyers.

Olive Press original article