Palm Mar is one of the most exciting new areas in Tenerife. Located on the sea front between Los Cristianos and Las Galletas, the town is accessed by a road that leads between the Montaña de Guaza and a protected area of natural beauty. Although there was some development in this area about 30 years ago, expansion stopped. In more recent years, the area has been re-planned and developed into a highly desirable location in which to live.
Unusually (for Tenerife), infrastructural and town planning have been completed, approved and financed in advance. From boosters for mobile phone signals and television, to sanitation stations concealed as forts, this new area has been planned to the minutest detail. Along the seafront Gaudi style tiling follows the promenade, leading to a sizeable town square, planned in an area adjacent to the ocean.
Palm Mar’s location, a triangle between ocean, mountain and nature reserve, means that it can never turn into a vast urban sprawl. The geography ensures that expansion is contained. This will never be a huge resort, and will always remain a bijou and exclusive getaway.
There is a very limited supply of older property in Palm Mar, dating back to its original stunted development, some 30 years ago. Quality of construction has risen enormously since then and newer development is aimed at a more discerning property buyer. Most property takes the form of apartments, of which ‘Las Olas’ stands out as the pinnacle of luxury and design. Newer developed houses, such as Club de Mar, tend to be very spacious and designed originally with features such as split level living areas. Generally a buyer would expect a higher quality, more spacious and better designed home in this area, than somewhere like las Americas or Cristianos, where the bulk of the housing stock is much older. Prospect for investors here are some of the best. With a limit to the size of the town, strictly regulated quality control over building projects and infrastructural improvements, this area will rise in value faster than most others.
