Property sale bonanza expected on "new" Paseo Maritimo

Developers line up new luxury projects

Jason Moore21/11/2022 16:15

Plans announced by the Palma city council to upgrade Palma's Paseo Maritimo seafront have led to a flood of enquiries from property developers and international investors who are anxious to cash in on the new-look neighbourhood.

In front of the famous Club de Mar yacht club, which is also been upgraded and substantially redeveloped, a luxury block of apartments are being built with prices in excess of one million euros. Other projects are being planned all along the Paseo Maritimo, which will be partly closed to traffic with "green areas" replacing the tarmac.

The Palma city council alongside the Port Authority are investing sizeable sums of money on upgrading the Paseo Maritimo and real estate agents are already saying that it could be one of the new "boom" areas of Mallorca.