Playa Granada is the epicentre of Motril tourist sector, it is also where most new dwellings are going up.

Urb Aguacate Beach Projection

Urbanización Marina Golf, for example, has 70 completed apartment, soon to be joined by 265 apartments under construction (Molina Olea). Add to those 344 dwelling belonging to the Mayfo group and their Urbanización Aguacate Beach. Of those 344 flats, 181 are underway and 90% have been bought off plan.

Who are the purchasers? Mostly from the provinces of Granada and Jaén. However, around 15% were bought by foreigners; apartments worth 129,000 euros

But it’s not all about building new apartment blocks but also about renovating older ones. This is the case of Playa del Poniente where most of the blocks of flats were built in the 60s and 70s. It’s worth the expense because one of these beach-line properties would go for around 80,000 euros as they stand, but renovated the price is more like 150,000 euros. If you spend 30,000 doing it up, you’ll still make 50,000 and on top, that’s 30,000 off your capital gains tax.

There are also new builds on Playa del Poniente; according to the Town Hall there are 26 dwellings waiting to be built near Hotel Estrella del Mar.

Obviously, prices will never reach what they were before the building bubble exploded, so even though the square metres prices (according to Idealista) is 1.5% up on 2020, standing at 1,018 euros, it’s still 47% down on 2009…

Editorial comment: when you hear of properties built off plan, it sounds omnious. Back in the heyday of the building bubble flats were bought and sold seven times off plan before the first brick was laid, all of which rammed up the prices (with little of this profit seeing the light of day).

(News: Motril, Costa Tropical, Granada, Andalucia)