Mediterranean Coastal Property Ban – Too Little Too Late?

While news of an agreement by 14 Mediterranean countries to outlaw new property builds within 100 metres of the coast line has received a broadly positive welcome, what does it actually mean in real terms? Is it really worth the paper it is written on, or is it just another cynical ploy to appease the environmental lobby who have long been pushing for such a move?

While the list of 14 countries who have signed up for the draft agreement covers the main offenders in the area, there is as yet no date as to when the regulations will come into force, or how they will be policed. However, there is a universal belief that the agreement is required but has maybe come 10 or 20 years too late for many areas of the Mediterranean, where coastal coverage is as high as 40% in general with many experts forecasting a move to over 50% within the next 20 years.

Over the last 20 years we have seen a major increase in both the number of holiday makers visiting the Mediterranean as well as those who are buying property in the area. As demand grew for new builds and redeveloped older properties, the historic small towns and cities gradually began to merge along the coastline. When you also add in the increased requirement for a new and improved transport infrastructure, what was once untouched countryside soon became an area of heavy development activity.

While there is no doubt that for many of the so called “holiday” countries, the increased inward investment, increased tourism number and increased income have assisted the nations as a whole, many believe that they have lost some of the original beauty and uniqueness which attracted many to the area in the first place.

There are also concerns that the protocol which was recently signed will not come into effect for many years to come, allowing developers’ time to speed up their activities and take advantage before the door is closed for ever. Many are also worried how this will affect the property market for existing coastal homes, with experts forecasting massive price rises as demand grows while the supply line is cut off.