Over €600 million of new construction is underway

Under construction Photo: Shutterstock / Jupitersounds

Málaga is the province with the most housing projects completed at the end of 2023 and has over €600 million of new construction currently underway.

The largest investment for housing completed in 2023 was in Marbella followed by Malaga city. Marbella had new builds completed in 2023 to a value of €160 million compared to Malaga with €140 million

In the opinion of the Architects of Malaga in the province, during 2023 there has been a “consolidation” in the pace of construction with a return to the figures of the years prior to the real estate crisis.

Almost every national and many international developers are involved in construction projects in and around the Marbella area together with many smaller developers with projects of two or three properties.

The location with the most projects currently underway, is Mijas with 76 projects approved and a budget of almost €140 million over a surface area of over 200,000 square metres. Projects currently being developed in Marbella amount to €290 million, €136 million in Mijas and €85.5 million in Benahavis. In the capital, there are 125 projects already approved with a total budget of €100 million.

However, the Architects’ Association has once again pointed out the scarcity of finished or ongoing subsidised housing, with only one project underway in the capital. In the rest of the province, for the time being, there are no new developments of subsidised housing, nor are they expected.

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Written by

Kevin Fraser Park

Kevin was born in Scotland and worked in marketing, running his own businesses in UK, Italy and, for the last 8 years, here in Spain. He moved to the Costa del Sol in 2016 working initially in real estate. He has a passion for literature and particularly the English language which is how he got into writing.