UNDER one per cent of the population of Malaga own a third of the province’s assets, according to a new report.

A staggering 0.6 per cent of the population own 8.3bn euros between them, according to the study by a left wing think tank (IULVCA).

Meanwhile the highest earners in the region are, perhaps surprisingly, living in the tiny village of Benahavis, where the average income is 24,723 euros a year.

In Malaga, the average wage is 20,659 euros, while in Marbella people earn 20,512.

Rincon de la Victoria comes in second with 22,852 euros a year, while Estepona scores 18,325 euros.

This is huge compared to the towns of the Axarquia, by far the poorest region.

In Sedella, the average wage is just 8,369 euros a year, while in Archez it’s just 8,800 euros and Alfartanejo just 8,378 euros.

A couple of towns in the Serrania de Ronda fare badly, with Cartijima on 10,270 and Alpandeire on 10,717

Some 50 per cent of all the municipalities in the province are earning less than half of the European average with a staggering 200,000 people falling below the minimum wage.