Building Plot for sale in Torremolinos, Málaga

Description of the plot for sale

The current plot covers an area of 2,221.86 m2. However, after transferring 10% of the land to the city council, along with the green areas, facilities, and internal roads of the new urbanization, the plot has been reduced to 1,242.62 m2. This change is already reflected in the Land Redistribution Plan approved in August 2022 (published in September) and in the Cadastre (reference 5762824UF6556S0001PJ), updated recently.

The plot offers a total buildable area of 402 m2 (excluding the basement, which can be built without limits). This allows the construction of a 402 m2 house on the entire plot, or alternatively, two houses of up to 201 m2 each on two plots of 621 m2. Another option is to build a 227 m2 house on a 700 m2 plot and another of 175 m2 on a 542.62 m2 plot. Although the minimum plot size is 400 m2 and up to three houses could be built, the terrain suggests that one or two single-family homes would be optimal. If three houses are desired, they could be semi-detached. The land is zoned for residential use, compatible with other uses.

The approval process is complete, awaiting the new deeds after the redistribution and the start of construction, scheduled for five months according to the approved urbanization project. The corresponding guarantee has already been presented to the city council.

The majority owner sells at €680 per m2 of buildable area, valuing this plot at €273,360 considering its 402 m2 of buildable area. The proportional urbanization costs are €96,916.53, not included in the price.

The urbanization already has four single-family homes (R-8, R-9, R-10, and R-11 on the map). The R-3b plot of 559 m2 was recently sold for €100,000.

According to the August 2020 appraisal, the plot values were as follows:

Before urbanization: €338.39 x 899.51 ua = €304,385.18
Once urbanized: €444.02 x 899.51 ua = €399,400.43
The plot is adjacent to the green area of the future largest golf course in Málaga city (Rojas-Santa Tecla Plan, with more than 2,700 homes) and is about 1,000 meters from the future largest shopping and leisure center in Andalusia (INTU), although it is currently delayed due to INTU's economic situation. It is also at the same distance from the roundabout accessing Torremolinos and the Málaga ring road. The city council’s planning document shows a new road (currently non-existent) that will connect Camino del Pilar (Torremolinos to Churriana road) with the roundabout accessing Torremolinos via the highway and ring road, further enhancing connectivity.

We have all the necessary documentation, including the Compensation Board constitution, bases and statutes, approved urbanization project, and redistribution project, available for any interested buyer.