PROPERTY developer Taylor Wimpey Spain will spend €18.8 million on a new development in the Santa Pola area of Alicante Province.
Amara will be a complex comprising of 120 apartments in Gran Alacant, which is just a 10 minute drive from Alicante-Elche airport.
The site is close to the Clot de Galvany natural park and the sandy Carabissi beaches.
The homes will all have sea views along with access to a communal swimming pool.
Private underground parking, a storeroom, garden areas, and a children’s play area are all provided.
UK and other foreign buyers will be targeted as Taylor Wimpey continues to work on another adjoining Gran Alacant development, known as Iconic.
The full completion date for Amara is expected to be June 2024.
The developer says it has invested nearly €100 million between 2020 and 2022 in the two Gran Alacant sites in addition to Elche’s Kiruna Hills, Javea’s Essential, and Posidonia in Torrevieja.
The firm says Alicante Province is attracting the highest number of purchases across the whole of its Spanish portfolio.
Taylor Wimpey marketing and sales director, Marc Pritchard, said: “We are seeing how the real estate market has recovered from the impact of the pandemic and is also acting as a good investment in the face of the global inflation rises.”
Although there could be a rise in interest rates, ‘mortgages continue to be very attractive’, added Pritchard.
- Demand outstrips supply: Spanish property market sees shortage of homes as prices rise 6.4%
- ANALYSIS: How inflation and raw material shortages are pushing up building costs on your property in Spain