Many of those wanting to purchase property in Marbella, choose to buy a plot of land so they can build a property to their taste- giving them complete control over the size, number of bedrooms, style of the kitchen, parking and terrace spaces, and so on. Building their own property in Marbella and the surrounding areas, has become an increasingly popular option for first time buyers, due to the quantity of plots which are available in prime locations such as Benahavis, which offers the perfect combination of tranquility and stunning views, Estepona and the New Golden Mile.
Many assume that the price of building a property in Marbella will be significantly more than that of buying a property that is already built. In some circumstances this can be true, but it is essential to add the qualitative factor –and not just the quantitative one- into such an equation, which is, having a bespoke home.
How Much Will A Plot In Marbella Cost?
As with properties that are already built, the price of plots varies greatly depending on their location, and this price is a decisive factor for the property final cost. For example, a luxury location such as Sierra Blanca, the price per m2 for a plot of land can easily reach 900€/m2, in Nueva Andalucía it would be around 600€/m2, and in less prestigious areas prices range between 150€ and 300€/m2. These prices however, are only an example for your reference and in all of the areas mentioned above, you will find more expensive and more economical plots, depending on the actual plot features- location, views, accesses, leisure places, amenities, shopping areas, etc., as well as the seller’s motivation to sell the plot, which will determine the sort of offers that they would accept. Based on this example, if you buy a 1,000m2 plot of land where the price per m2 is 300€, you are paying 300,000€ before you even start to build.
Constructing A Property In Marbella
Once you have purchased the plot of land- you now need to consider the construction costs. These can vary a great deal, but for your reference, they can easily be around 900-1000€ per m2, including expenses such as architect fees, project, permits, licenses, and the actual home construction. If you are considering building a property of around 350m2 of total built surface area for a price of 1,000€ per m2, the cost so far would be 350,000€.
If you total the cost of the plot and the actual property construction costs, you would be spending 650,000€ plus tax. Taking into account that for this price you can build a villa in a prime location that meets your exact requirements, exactly how you want it, it soon becomes clear why many buyers choose to buy a plot to build their own property in Marbella, rather than purchasing a resale home or new construction.