La Zagaleta: A Prestigious Enclave of Luxury Villas and Expansive Growth Plans
La Zagaleta renowned for its opulent homes, stands as an exemplar of luxury living in the country. Prospective buyers are curious about the average price of a villa in this esteemed locale.
Average Villa Prices and Buyer Profiles: The average price per square meter of new housing in La Zagaleta ranges from 10,000 to 15,000 euros, with used properties varying based on factors such as orientation, views, and location. High-end locations have seen plots sell for over 10,000 euros per square meter, with transactions exceeding 10 million euros for plots covering 10,000 square meters. The primary clientele, predominantly hailing from the British market, has remained steady even after Brexit. Additionally, there has been a notable increase in younger buyers, particularly those associated with the flourishing technology sector.
Economic Impact on Benahavís: The grand scale of La Zagaleta, boasting around 300 villas, two golf courses, and a heliport, has a significant economic impact on the municipality of Benahavís. The resort generates approximately four million euros per year for the City Council through Real Estate Taxes (IBI) alone. Furthermore, licensing fees for new works and sports facilities contribute an estimated 17 million euros and over one million euros, respectively. In terms of employment, La Zagaleta employs around 200 permanent staff directly, while approximately 630 individuals are employed indirectly. Moreover, about 2,000 people access the urbanization daily for work-related purposes.
Expansion Projects and Growth Plans: La Zagaleta's expansion endeavors comprise two major projects. The first project involves the establishment of a high-end hotel, complete with 60 rooms and 66 associated villas on an extensive plot measuring 110,000 square meters. The development seeks partnership with a renowned international brand such as Mandarin, Six Senses, or Four Seasons. While negotiations are underway, construction is tentatively expected to begin by the end of the year. The second project, located in Castellar, is designed to house one of Spain's most distinguished golf courses. Delays in administrative processing have caused a slight setback, but the golf course has already obtained construction approval, and progress on the residential and hotel aspects is well underway.
Conclusion: La Zagaleta's allure as a luxury residential haven continues to captivate affluent buyers, with a diverse mix of nationalities contributing to its cosmopolitan ambiance. Its considerable economic impact on Benahavís demonstrates its significance as a prestigious destination, and the resort's expansion projects herald exciting opportunities for further growth and development in the region.
For more information, a wide selection of properties, and assistance with buying property in Sotogrande, Marbella, La Zagaleta, or southern Spain, please visit www.luxe-villa.com or email info@luxe-villa.com.
