The soft sands and warm waters of the Mediterranean are known around the world, accounting for one of every three international tourist arrivals globally, according to the UN World Tourism Organisation (UNWTO).
In Spain, the property market in coastal areas is picking up at a promising pace, as buyers look to take advantage of the bottomed out market before prices rise. Prices on the Mediterranean coast have already risen by 1.5% this year, according to valuation firm Tinsa. Upmarket areas such as Marbella and the surrounding towns are benefitting from the uptick, with new build developments such as Jade Beach, from leading Spanish homebuilder Taylor Wimpey España attracting those looking to own a prestigious property within just 100 meters of the seafront promenade leading to Puerto Banus. Prices start at €450,000.
Taylor Wimpey España is also keyed in to the potential of the Balearic Islands when it comes to holiday home ownership. Sales and Marketing Director comments,
”Mallorca is a great play to buy and has everything from key ready apartments at developments like Cala Magrana III to new build seafront houses like those at Cala Magrana Mar. Mallorca has so much to offer in terms of both land and sea-based activities – it is one of the Med’s most enchanting destinations.”