"In just four months we have reached the rates of last year in terms of licenses for major construction works" Andrés Ruiz, the Councillor for Town Planning at the Mijas Town Hall comments, in light of these recent figures.
From January to April this year, the licenses granted will result in an investment of 30 million euros, slightly lower than those obtained for all of 2015. Last year saw 207 building permits granted resulting in a total of 33,910,000 euros of investment. This year, 44 building permits granted in one quarter alone will bring 30 million euros worth of investment.
"Real estate investment is growing. I think we have the confidence of investors and we have recovered a sector that until last year was quite wrong. Investors are fixed on our municipality to accommodate residents who seek the Costa del Sol." Ruiz adds.
The construction figures reflect the significant recovery and revival of the Spanish real estate sector following the burst of the housing bubble in 2008. According to Ruiz, forecasts for the rest of 2016 currently place the total amount of building investment at between 50 and 60 million euros, citing the municipals prime location on the Costa del Sol as a reason for increased investor demand. "Mijas is attracting large numbers of investors who previously chose Marbella. The impulse of residential tourism is helping us in the development of our town planning, and there is a real sense of trust in our municipality."
According to recent building figures and permit approvals, La Cala de Mijas has become the area most favoured for new business opportunities due to its proximity to the airport as well as its easy access to areas at the popular opposite end of the Costa, such as Marbella and Puerto Banus. "Every day we are more attractive to investors, which translates to a further enrichment of the locality and in the promotion of employment, since 90% of the contracts that are generated because of building licenses are for the people of Mijas."
The favourable figures confirm the reawakening of the Spanish property market and the rise in investor demand in prime coastal locations such as Mijas, a versatile area that offers a range of residential properties to suit a variety of needs.