
With Spain's coastline being so heavily built up already, developer Redis 6's suggestions for an artificial island near the city of Valencia, just off Malvarrosa beach, suggest a way to meet demand for seafront property in future.
'La Luna de Valencia', as the island would be known, would cover 1.6 million square metres. Only a million square metres of that would be land, and the remainder would be canals and channels. Solar energy and desalination facilities will keep the island supplied with power and water. Property would include apartments and villas, with the smallest apartments measuring 40 square metres – enough for holiday use but too small for permanent living and costing from 300,000 Euros. The developer has been careful to stress that it would not simply be a rich man's paradise as the plans include 25% to 30%
viviendas de protección oficial (social housing) among the others.
While Redis 6 has stated that it has Spanish investors prepared to finance the 5,000 million euro cost, the development may never be built. Spain's 1988 Ley de Costas, which governs building around the coastline, expressly forbids the extension of land into the sea, which La Luna de Valencia would do. Given the Spanish Environment Ministry's current crack down on land-based developments that breach the law, including the demolition of properties built too close to the sea, and concerns about the effect of global-warming-induced sea level rises, the developer is going to have an incredibly difficult time getting planning permission. And that's before all the people who own frontline properties in Valencia discover that their sea view is about to be swallowed up by homes for 1,000 people and start protesting. (article from homesworldwide)