Looking for a sea view apartment in a premium location? You will find an exclusive selection of properties for sale on the waterfront along the Paseo Marítimo in Palma.
More than 100 million euros are currently being invested in the redevelopment of the Paseo Maritimo and the Club de Mar marina. The new harbour will be a reference in the entire Mediterranean.
Hans Lenz, Managing Director of Engel & Völkers Mallorca Southwest
Born on Mallorca, 10 years with Engel & Völkers
1. The best of buying property on the Paseo Marítimo in Palma
2. What’s new on the Paseo Maritimo: important infrastructure projects and great reasons for investing in the area
3. Water sports enthusiasts: check out the new Club de Mar on the Paseo Marítimo in Palma
4. Buying a flat, apartment or penthouse on Palma's Paseo Marítimo - the property market today in facts and figures.
5. The professional real estate agent on the Paseo Marítimo: an easy buying process with Engel & Völkers.
1. The best of buying property on the Paseo Marítimo in Palma
Palma is considered one of the best cities in the Mediterranean, it has a fantastic location directly on the coast, is brimming with history and culture and also has a wonderfully authentic personality, today it is one of the most esteemed locations for buying property in the Balearic Islands. Particularly the seafront avenue, the Paseo Marítimo, enjoys an excellent reputation as one of the top addresses for owning a property in the city. Wealthy buyers are attracted to this particular part of town because those things that make Palma one of the best cities in world are all close by in this prestigious city district.
The Paseo Marítimo is an avenue lined with Palm trees that runs parallel to the sea, and the privileged few who live in the neighbourhood reside in beautiful modern, light flooded homes that overlook the sea. Exclusive apartments, flats and penthouses as well as brand new homes are in high demand by both international and regional buyers looking for something urban and something very special. For those property buyers in the know, the Paseo Maritimo promises an incredible, high-quality lifestyle enjoying all the fruits that Palma de Mallorca has to offer. The Paseo Maritimo is close to the many beautiful, historical buildings of the city, to the most exclusive shopping, fine restaurants and trendiest bars in the beautiful old town of the city, the infrastructure is on par with other modern cities and all services including the international airport are close by.
Find out more from your local international real estate agent Engel & Völkers Mallorca about why buying a flat or penthouse on the Paseo Marítimo in Palma is probably the best move you will ever make.
2. What’s new on the Paseo Maritimo: important infrastructure projects and great reasons for investing in the area
The Paseo Maritimo – the beach promenade that stretches from the southwest of Palma to Portixol in the east of the bay - and the Club de Mar Mallorca, the island's best-known marina, are to be restructured, refurbished and modernised at a cost of around 100 million euros. The project to transform Palma's seafront and harbour has been approved by MITMA (The Ministry of Transport, Infrastructure, Mobility and Urban Agenda) and should take no more than 20 months. The investment and redevelopment of the area between the city and the port aims to make it even more pedestrian-friendly, reduce the number of private vehicles and optimise public transport connections. This will be a fantastic improvement for visitors and homeowners in the area. The objective of this grand project is to create a natural transition from sea to city, embellishing the area with more trees and flowers whilst still preserving existing trees and palms. A regenerative irrigation system using rainwater is planned, which will make the upkeep of the gardens environmentally sustainable.
The restructuring will result in the existing number of traffic lanes being reduced to two lanes in each direction and the number of pedestrian crossings being increased from 12 to 26, which will improve safety and accessibility. Bus stops will be strategically positioned to provide an efficient public transport system, facilitating the movement of tourist and residents alike and reducing traffic congestion. There will be the possibility for further development and optimisation with the integration of a possible tram or rapid bus system in the future. New retaining walls and stairs, ramps and railings will be built to the adjacent residential areas of Es Jonquet and El Terreno. Other highlights to the upgraded promenade will be new lighting systems, Wi-Fi, street furniture and facilities for children to make it into a superb, vibrant meeting place for all. To buy a flat or a penthouse with sea views on the Paseo Marítimo in Palma is one of the smartest moves in the city today, any investment in the area is solid with the promise of excellent living conditions in one of the best cities in the world.
3. Water sports enthusiasts: check out the new Club de Mar on the Paseo Marítimo in Palma
The Club de Mar, a prestigious private marina at the western end of the Paseo Marítimo, is one more compelling selling point for owning property on the Paseo Maritimo. The marina was opened in 1972 and quickly developed into one of the most important sailing centres in the Mediterranean. In 2020, after an investment of 60 million euros, renovation work began to completely transform the marina and integrate it even more harmoniously with the Paseo Marítimo and the city of Palma. The new Club de Mar features modern buildings with more green spaces, including attractive wall gardens and green roofs. A pontoon with the capacity for four boats of over 136 metres at any one time plus well over 600 berths, contributes to making Club de Mar the largest, private leisure harbour in Spain. The project aims to transform the port into "the most modern and sustainable in Europe", according to Borja de la Rosa, president of Vías de Obras Públicas S.A. (VOPSA). In this way, Palma and the entire island of Mallorca are taking a big step forward on their progressive path towards a greener and more sustainable future. According to José Luis Arrom, director of the Club de Mar, the transformation will create around 500 new jobs and the facilities can be valued at 170 million euros. If you are interested in the sport of sailing or motor boating, or if you are the owner of a yacht yourself, real estate agent Engel & Völkers Mallorca will be happy to put you in touch with local officials to enquire about a berth at the Club de Mar.
4. Buying a flat, apartment or penthouse on Palma's Paseo Marítimo - the property market today in facts and figures
Real estate along the Paseo Marítimo includes some of the most attractive buying opportunities in all of Palma. For this reason, real estate agents Engel & Völkers Mallorca classify the promenade as
a good to a very good property location, and this is reflected in the average price tag in the area. Both national and international buyers recognise the great value of the area and demand is high. A property on the Paseo Marítimo on today’s market will fetch a mean average of 600,000 to 700,000 euros. Those looking for something less pricey are likely to find what they are looking for in the still cool neighbouring districts of
El Terreno or
La Bonanova: In these area flats / apartments are listed between 450,000 and 600,000 euros and houses at around 1 to 1.5 million euros. You will discover many superb districts in Palma that are up and coming areas, trendy
Santa Catalina or
San Augustín are also very desirable purchase options.
The property market in all of the above locations is expected to remain solid and Engel & Völkers forecast a steady growth in the value of properties making them a good investment for the future that would resell at a profit. The redevelopment of the Paseo Maritimo will definitely see demand and prices for the area in and around the Paseo Maritimo strenghthen. The time to invest in the area is now! For more detailed information on the state of the property market in Palma and/ or other areas of Mallorca, please request our free, high-quality Engel & Völkers Mallorca Market Report!
5. The professional real estate agent on the Paseo Marítimo: an easy buying process with Engel & Völkers
For over 30 years giving an outstanding service to our buying and selling clients in Mallorca, the Engel & Völkers brand signifies excellence in real estate services including the acquisition of premium properties. With our support and professional expertise, you will succeed in finding the property that is exactly right for you on the Paseo Marítimo. First and foremost, we listen to your requirements and wishes, the specifications, the design you like, the style, the size you want, etc. Our forte is a result of our passion for great real estate, the decades of experience in the Palma de Mallorca property market as well as our extensive network of contacts, keeping us constantly updated about the latest properties to come on the market in the area. Reap the benefits of our multinational team of professional real estate agents who will help and advise you throughout the buying process from the very beginning of your search and until you are happily settled in your new home. No question or doubt is too small, we are always at your service to answer questions and find solutions.
If you would like to find out more about property for sale on the Paseo Marítimo or elsewhere on the island please call +34-971-23 85 84 or contact us online to make an appointment for a personal, non-binding consultation.
Make the right move and check out our properties for sale and for rent on the Paseo Marítimo.
Contact us now
Engel & Völkers
Mallorca
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mallorca@engelvoelkers.comHeadquarter Balearic IslandsSpain
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Phone +34-971-23 85 84Fax: +34-971-67 24 14
Opening Hours
Mo - Fr: 10:00 - 18:00