CONSTRUCTION giant Quabit is investing €23.75 million into 700 homes in Mijas.
The works, some of which are already underway, comprise 148 plots covering 79,000 square metres of land.
The properties include 147 villas and 91 townhouses and are said to be designed to appeal to the foreign buyer looking for a second home.
One development, however, is designed to help younger buyers get onto the property ladder.
Some 79 homes at El Lagar de Quabit will come with a 5% discount for first-time buyers.
Mayor Juan Carlos Maldonado said: “Our young people have more and more difficult access to a real estate property and therefore it is important to offer them opportunities to do so.”
The residential development is part of ‘Quabit youth housing’, a campaign that aims to allow future buyers access to housing.
In the case of ‘El Lagar de Quabit’, the company offers discounts of 5% on its 2 and 3 bedroom homes, all with terraces and in a gated community with a pool, children’s park and green areas.
“Young people are not getting their foot into the door of the property world and that is one of the great challenges we have to solve,” said Quabit, “The lack of savings, the difficulty of access to credit and high rents are leaving them out of the market.”