Description
Located in the exclusive area of Palm Mar, in the municipality of Arona, Tenerife, this 2,400 m2 plot offers a unique opportunity for investors interested in real estate development in one of the most sought after areas in the south of the island. Palm Mar is known for its year-round sunny climate, its nearby beaches and its attraction for tourists and affluent residents. With easy access to local amenities, connections to the airport in the south of Tenerife, and only a few minutes drive from tourist areas such as Los Cristianos and Playa de las Americas, this plot is ideal for the construction of a high yielding property.
The total buildable area of 4,400 m² allows for flexible design and maximises profitability with a ground floor occupation of up to 960 m² and a height of 6 storeys. The development options are varied: the site is perfect for a hotel with a capacity of 88 to 146 rooms or a residential complex of 44 to 55 high-end flats. These characteristics allow for both a tourist rental operation and the sale of units, both of which are in high demand in the area.
The construction costs together with an estimated sales price for the finished homes project an excellent minimum return of 25% on the total investment. This makes this investment a competitive and highly attractive option in today's market.
Don't miss this opportunity and contact us today for more details and to secure your position in this highly profitable market.
