“Estepona bet on the high range in the real estate sector”
Currently five promotions offer luxury apartments on the beachfront and five units are sold per month.
If we talk about luxury villas, we automatically think of Marbella, a city identified with high-end housing, a sector for which until now investors had not opted for Estepona and whose offer was non-existent in the municipality. But something has changed because the municipality is attracting companies focused on luxury apartments. There are currently five promotions on the beachfront that offer this real estate product with a price ranging between 6,000€ and 10,000€ per meter. There is a total number of 175 homes considered high-end that are selling at a rate of five units a month, according to a market study conducted by DEI-Homes (Development, Excellence, Innovation).
This recently created company, focused on high-end housing, has also given a plot of land with more than 10,000 square meters of buildability, on Litoral Avenue, for the III International Architecture Prize, organized by DOM3 – Entrepreneurs for Housing High quality.
The reasons why Estepona is the focus of attention of luxury investors are several. Antonio Bazán, manager of DEI-Homes, aims, among them, at the recovery of the real estate market, and especially that of high-end homes. Second, the municipality offers legal and urban security. << With availability of high quality urban land and urban planning. This is the main difference with other bordering areas >>, he points out. And finally, << positioning and recognition at the national and international level of the Estepona brand as a vertex of residential projection within the Marbella-Estepona-Benahavís area >>
The current promotions offer the square meter between 6.000€ and 10.000€
PGOU (General Plan of Urban Planning)
Bazán recognizes that up to now the urban planning model of the current PGOU in Estepona, prioritized the development of high-rise housing with the typology of a Mediterranean town. The luxury sector was scarce in the municipality, only some villas concentrated in areas such as Casasola, Paraíso-Barronal or Paraíso Alto. And now there is an interest in high-end apartments.
The reason is that the profile of the buyer has changed and now demands luxury apartments as second and third residences instead of sumptuous villas. << Among other reasons for the low maintenance costs in relation to a luxury villa, a feeling of greater security and because they tend to have better locations and views (first lines of beach or Golf >>, explains the manager of DEI-Homes.
From this real estate company they point out that there are two or three areas in Spain that are experiencing the same “boom” of Estepona for luxury apartments, but the municipality offers advantages that the rest of the areas lack: international connections and national airport, the AVE and the proximity of Gibraltar. To this we must add the views of the sea and the golf courses and, above all, the good weather.
For its premiere in this luxury market, DEI-Homes has chosen to sponsor the III International Architecture Prize, organized by DOM3-Entrepreneurs for High Quality Housing, giving a plot.
The president of DOM-3, Lucía Pou, points out that the choice of Estepona as the place to develop the third edition of the prize << was not coincidence, but has much to do with the integral transformation that the municipality is suffering in the last years and the growing interest of investors in Estepona >>. Also for the demand of luxury apartments.
The first edition of DOM3 Prize had as its object a villa in La Zagaleta (Benahavís); The second edition, held in 2016, consisted of the development of a master’s degree plan in the Santa Clara area of Marbella. Both focused on individual villas. On this occasion, the contest focuses on luxury apartments.
Architecture Award
In these editions participated more than 300 studies or architecture teams of 30 nationalities. In this edition, the architect or team of architects who wrote the winning project will be part of the future team that will carry out the construction of the building, a demand from the winners of other years. In addition the economic amount of the prize will be higher than other editions, 60,000€.
Interest in Estepona is also demonstrated by the development of the DOM3 Prize competition, since, according to the organization, so far, in less than two weeks, there have been more than 40 registered people of different nationalities, among which are those registered from Spain, Honduras, Chile, Mexico, the United Kingdom or Brazil, among others. In addition, there are also several multinational teams made up of architects who develop their professional activity in different cities around the world. The registration period will remain open until May 16.
Source: Diariosur
