The Costa del Sol has begun to notice the recovery in the construction sector and not only with regards to new works that can be seen along the western municipalities of the province. Other indicators of the resurrection of this market can be seen in the municipal coffers, and in particular those of Estepona. In 2015 so far 1.7 million euros have been received due to the granting of licenses for major works.
This figure, explained the Councillor for Public Works, Infrastructure and Tourism, Ana Velasco, resulted in an obvious increase in those revenues compared to 2011. Specifically, the amount of money received grew by 410 percent. “We have gone from 168,520.72 euros raised in 2011 to 1,781,562 million euros achieved during this year,” said the mayor.
The revenue increase is achieved not only with the signing of a greater number of licences, but the average price of each of them also has risen sharply, going from 8869.51 to 18366.61 euros on average for each . “In 2011 only 19 licenses for major works were awarded, while in 2015 so far and have been awarded a total of 97,” said Velasco.
The councillor explained that the licenses for major works encompass relevant actions which often involve changes in the structures of existing buildings or building new properties. “I do not doubt that Estepona is recovering economically and has become an attractive destination for many investors,” she added.
Among the investments which achieved this figure are tion
such as a development of 52 luxury homes in front of H10, part of the expanding Global Hotel Isdabe in Estepona with an investment of over 10 million euros, or building 54 exclusive homes in the Las Mesas.
Velasco said the increase in projects in the city is linked to the project of remodelling of the old town, which has led to the improvement of more than 70 streets. “Not only are they opening new businesses, but citizens are recovering abandoned and old houses and building new homes,” said the councillor.