Menorca is a haven of peace known for its sublime beaches and unspoilt nature. The small Balearic island will soon be home to the Arenal Beach project, a beautiful residential complex with 32 luxury apartments built by Azur Estates.
In this article, we’ll cover :
Menorca is located in the Mediterranean Sea, just off the Spanish coast. It is the largest of the Balearic Islands and is known for its beautiful beaches, crystal clear waters and lush vegetation.
Investing in a residential project in Menorca is a great way to ensure a solid return on investment. The island’s location and unique climate make it an ideal destination for both vacationers and investors.
After having carried out numerous projects on the nearby island of Ibiza, Roberto Bergonzi, founder of the Azur Estates, decided to embark on the construction of the Arenal Beach project, which consists of the construction of a residential complex with 32 apartments.
“We decided to establish ourselves in Menorca two years ago. After doing some research, we found that the island fulfills all the criteria that a customer used to Ibiza might want to find.”
The complex, ideally located 250 meters from the beach, will consist of 32 apartments, 38 parking spaces, individual storage spaces, an infinity pool with sea views, a gym, a spa, a business center and a children’s play area.
The building’s 5 stories will include :
For those looking for a solid return on investment, Menorca is the ideal island to consider. With its growing economy and excellent quality of life, it is the ideal place to invest in real estate.
The real estate market has seen a sharp increase after the COVID19 crisis: transactions grew by +66% between 2019 and 2021 and prices continue to rise.
The island is well preserved as the majority of the land and most of it is a nature reserve where building is prohibited. Construction is restricted to preserve the natural landscape. Owners can easily sell their property as the supply of new properties is limited.
According to Roberto Bergonzi, CEO and founder of Azur Estates: “If you want to compare the current prices with those of Ibiza, a similar product on Menorca is probably 35% to 40% cheaper.”
Moreover, the island is easily accessible: Menorca has an international airport and is only a few hours’ flight from several major French cities, including Paris, Bordeaux, Nantes and Marseille. It is also possible to access the island by car, via a ferry.
Founded by Roberto Bergonzi, Azur Estates has been building residential complexes in the Mediterranean for many years, which has established the group as a leader in the luxury real estate market.
In addition, their extensive network of reputable and reliable partners allows them to put together teams capable of meeting the requirements of any project in an optimal manner.
The group is known for its seriousness and reliability and has developed a number of successful real estate projects such as Vadella Hills, Vadella views, Salma Villa, Mares and Moli Diamonds.
Azur Estates is based in Luxembourg and has offices in Alicante, Ibiza, Menorca, Valencia and Marbella. It began its activities in 1989 and has been active in the promotion and sales sector in Spain, Italy and Canada.
After the economic crisis in Spain, Azur Estates and its founder Roberto Bergonzi began to develop projects in the Balearic Islands. The company quickly became known for its development capacity and established itself as a leader in the sector.
The group focuses mainly on high-end market segments, ranging from high quality residences to luxury villas. It can also develop other assets such as commercial complexes linked to residential projects.
Listen to our podcast with Roberto Bergonzi, founder of Azur Estates. In this episode, we discover the origins of the Arenal Beach project and the reasons why Menorca is the perfect place to invest.
Hello everyone and welcome to this episode of the podcast.
We are pleased to welcome Roberto Bergonzi, CEO of Azur Estates, a real estate investment and development group focusing on quality and exclusive projects in the Spanish coastal real estate markets.
Can you tell us about the Arenal Beach project, located on the island of Menorca?
We made the decision to move to Menorca two years ago. After doing some research, we found that the island fulfills all the criteria that a client used to Ibiza might want to find.
It is a very orderly island that has been less impacted by urban development.
We launched this first project, ideally located 200 meters from the sea. All the units have a view of the water and the beautiful sandy beach.
The location is quiet, quite peaceful, and without mass tourism. The project has 32 condo units with large terraces. Each penthouse unit has its own private pool and each unit has its own parking space.
The project also includes a series of complementary services that we think are essential. For example, a fitness-center, a sauna and a jacuzzi. We have also created a business center with meeting rooms, with the possibility of video-conferencing, so that people can work remotely. There is also a small cafeteria in one corner, to meet the needs of clients.
There is a management/rental service for clients who want it, to help them achieve profitability. It is a project that meets all the requirements and completely satisfies the demand.
If you want to compare the prices of the moment with those of Ibiza, a product like this on Menorca is probably 35% to 40% cheaper. So there is also an advantage for those who are looking to invest. For example, by saying to themselves: “Today I’m buying in Menorca because I know that in a few years the difference with the properties in Ibiza will be made up.”
Why is it worth investing in an apartment in Menorca today?
Why Menorca? Menorca is not yet well known. It’s also a beautiful city where you can feel the peace. It’s a totally different island from Ibiza. It’s not the same lifestyle.
It’s a place for people who are looking for a break, who are looking for peace and quiet, who are looking to get away from the stress of everyday life in a nice local atmosphere (because the people are very friendly!).
There are also beautiful villages, where there is still a local life. You can find cheese producers, ham producers; things that tend to get lost a bit in our society. You can still find all this today in Menorca, because it’s a city that has learned to survive on its own.
It has always been very far from the mainland, so the locals have developed this local culture of survival. And the people who come can enjoy it.
It’s fabulous for water activities. There are marinas everywhere, beaches and idyllic spots.
So, although it’s part of the Balearic Islands, it’s very different from Ibiza in that it’s much less crowded. It is true that during the summer there is also tourism, but never to the level of Majorca or Ibiza. That’s part of its appeal.
Can we also talk about the fact that building permits are not easily granted and the restrictions in place?
Of course.This is not only in Menorca but is the case on all the Balearic Islands. Obtaining planning permission is very regulated. And that’s normal. These are islands so we try to protect them and find the right balance with the local economy. Because there are people who live there and who must have salaries. So there is this harmony to respect. We are not trying to ‘seal off’ the island with our new buildings.
In any case, we can only wish you a warm welcome to Menorca!
Thank you all for listening. And above all, thank you to Roberto Bergonzi for accepting our invitation.