Benidorm's TM Tower: a European record with a property controversy
The TM Tower in Benidorm, Spain, is set to become Europe's tallest tower, and 13% of its buyers are Ukrainian. A growing property controversy.
English · Original discussion in Spanish · Published
Benidorm's TM Tower: the building that wants to be Europe's tallest
A record-breaking tower in Benidorm? The TM Tower, developed by TM Inmobiliaria, is being presented as the tallest building in Europe. The project impresses not only with its height, but with the profile of its buyers: 13% of reservations come from Ukraine, according to the promotional video itself.
The label "Mediterranean brick mafia" is already circulating among critics of the project, who see this tower as yet another symptom of a property bubble that keeps squeezing the Spanish coast. The irony doesn't stop there: while some point out that Benidorm is no longer what it used to be, recalling a summer in 2005 when almost any Spaniard could still afford a holiday there, the skyscraper keeps rising towards the sky.
The tower's terraces have also raised eyebrows. Amateur physics experts are already calculating the missile effect of a ball falling from the 50th floor. But the real danger is another one: housing prices and the displacement of long-time residents. "Bye-bye, locals" seems to be the underlying message.
The press has already picked up on the project, with reports in outlets such as La Vanguardia on this new concrete giant by the Mediterranean. Meanwhile, residents watch the cranes and wonder whether they will be able to keep living there. For now, the answer is as tall as the tower itself: there's no end in sight.
A record-breaking tower in Benidorm? The TM Tower, developed by TM Inmobiliaria, is being presented as the tallest building in Europe. The project impresses not only with its height, but with the profile of its buyers: 13% of reservations come from Ukraine, according to the promotional video itself.
The label "Mediterranean brick mafia" is already circulating among critics of the project, who see this tower as yet another symptom of a property bubble that keeps squeezing the Spanish coast. The irony doesn't stop there: while some point out that Benidorm is no longer what it used to be, recalling a summer in 2005 when almost any Spaniard could still afford a holiday there, the skyscraper keeps rising towards the sky.
The tower's terraces have also raised eyebrows. Amateur physics experts are already calculating the missile effect of a ball falling from the 50th floor. But the real danger is another one: housing prices and the displacement of long-time residents. "Bye-bye, locals" seems to be the underlying message.
The press has already picked up on the project, with reports in outlets such as La Vanguardia on this new concrete giant by the Mediterranean. Meanwhile, residents watch the cranes and wonder whether they will be able to keep living there. For now, the answer is as tall as the tower itself: there's no end in sight.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (15 replies).
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