Luxury housing in Malaga’s so-called ‘Golden Triangle’ is leading the way in the resurrection of the Spanish construction industry, according to a report in The Olive Press.

The ‘Golden Triangle’, made up of Marbella, Estepona and Benahavis, is seeing an increase in both home sales and construction. During January and February of this year, Marbella Town Hall saw a 20% increase in applications for a licence to build luxury homes.

So far this year the town hall has authorised licences for 18 new housing projects with a combined worth of over €9m.

If construction carries on at this pace, the number of projects for 2014 could be double that of last year, which ended with a total of 64 licences issued. But Pablo Moro, the councillor in charge of town-planning in Marbella, emphasised the need for caution in analysing the data, saying: “What we are seeing in this data is that the growth curve from last year is continuing.”