La Zagaleta Golf and Country Club is a private estate in the Costa Del Sol region of southern Spain. This development has long been the ultimate address for those looking for that bit more luxury than other developments in the area can provide. The location was deemed perfect by Adnan Khashoggi, who had his Spanish residence there for many years. Many people marvelled at his helicopter journeys from his boat in Puerto Banus directly to La Zagaleta itself where the mountains lit up with his landing strip.
Since La Zagaleta was taken over in 1991 the overall masterplan was to create something special and nobody can deny that they have done just that. Given the sheer size of the area they decided to only have 420 homes, rather than the thousands they could have been granted permission for. This is a contributing factor to the many awards this estate has received, with the motto "only the best is good enough" La Zagaleta´s attention to meticulous detail has placed them in the position they are in.
Interestingly many people are opting to buy land within this development and construct their own property and when you take a cursory look at figures it is easy to see how this makes sense. A large plot of approximately 5000m2 can be purchased for around €1,800,000, retaining walls on the plot can come in at around the €500,000 mark dependent on the topography. Then for a high quality finish you could expect to pay around €2,500 per metre.
When doing a simplified calculation such as this, producing a home of 1000m2 could work out favourably. Looking at current market values a saving would be made on an existing turnkey villa. Over the mid to long term this could be seen as a solid investment both for rental yields and capital appreciation.