Tenerife Real Estate. Spain’s New Crown Jewel – Palm-Mar
Tenerife real estate consultants and local property buffs have viewed Palm-Mar with keen interest, and some bewilderment, over the past couple of decades. South Tenerife property markets have concentrated mainly on Los Cristianos and Las Americas. Across the bay from Los Cristianos, the little village of Palm-Mar has always seemed an ideal site for Tenerife real estate development. It is one of the best locations in the Canary Islands, never mind just Tenerife.
The story of Palm-Mar is one of sunshine after the rain – of glorious dawn after a long, dark night. From the mid-1980s to the mid-1990s, a visit to Palm-Mar was a visit to a lifeless, tumbleweed town. Luxury villas stood only partly completed, the town itself was only partly occupied. Signs of neglect were all around. There were no proper shops, or restaurants, or bars. Half finished roads led nowhere. It seemed locked in time. Yet the place was obviously such a fantastic prospect. What was going on?
With all the highly successful investment in, and development of, Los Cristianos, what had happened to cause such a strange paralysis in her little sister across the bay? It seems legal entanglements, bloody mindedness and official indifference all played a part. The situation was eventually resolved around 1996; heads were knocked together by higher powers and the “locked in time” days are history. The clean sweep involvement of giant Spanish developer Urbis also helped to release the stranglehold. Now Palm-Mar is approaching its 10th anniversary back in the land of the living. Congratulations!
Ironically, Palm-Mar’s relatively late exit from the “starting blocks” of development has given it some incredible advantages over its rivals:
• New infrastructure has been installed as an integrated component of the development, not as an “add-on” to an “add-on”.
• Building techniques, standards and materials have improved enormously since development first started in South Tenerife. Palm-Mar enjoys the benefit of learning from the mistakes of others.
• Town planners are determined to create something special. They license development only on the strictest conditions, to avoid some of the glaring excesses that have occurred elsewhere.
• There is a unique spirit of community about Palm-Mar, as investors create this pocket of luxury and exclusivity
• To own a property in Palm-Mar will be a benchmark, a statement of discerning good taste.
In the world of property purchase and sales, one of the most commonly recurring thoughts starts: “If only…” “If only I had sold that then” or, more frequently, “If only I had bought that then!”
Arrange to see Palm-Mar for yourself and it is easy to imagine its future as the dominant luxury residence in Tenerife. Imagine no hotels. Imagine no hideously noisy nightclubs. Imagine the exclusivity, as limited space means no urban sprawl. Imagine popping over for a meal or to shop in Los Cristianos – in a water-taxi!
With its proposed luxury sports facilities, marine activities and overwhelming emphasis on tranquillity and exclusivity, Palm-Mar really does offer a unique opportunity for the clear-sighted investor.
In three or four year’s time, are you going to be thinking to yourself: “If only I had bought in Palm-Mar”?
Do not take the chance. Contact us now, and arrange for a look around.
