This western most part of the up-and-coming Costa de la Luz around the fishing port of Ayamonte, just before you hit the Portuguese border, is fast becoming a hot spot for investment, with prices lower than on the Costa del Sol and the crowds and major development yet to take over. It's just 30 minutes drive from Faro airport in Portugal and 90 minutes' drive from Seville airport. Building, however, remains restricted, largely because of the protected national parkland belonging to the Coto Donana, a 193 square mile stretch of parkland, forests and sand dunes which shelters a vast variety of wildlife including the Spanish lynx. The Government is keeping a keen eye on any illegal building, to prevent the sorts of problems that have occurred in the Costa del Sol.

Costa Esuri, as this part of the coast has been named, is a large project 1km from Ayamonte and has the self-sufficient infrastructure of a village, with a variety of property types, golf courses, hotels, leisure areas and commercial centres in the planning. Sea & Sun is a large new development set in the best spot on the Costa Esuri, on a hilltop which faces south east so as to catch the sun and with panoramic views towards the River Guadiana and bridge to Portugal.

The 22 blocks comprise 286 two-bedroom, two-bedroom apartments, of which they are about 120 still available and are due for completion around March 2007. They are going fast, though, as investors snap up low prices at this early stage. The urbanisation has a gated entrance, communal landscaped gardens and a swimming pool and the urbanisation has country club style facilities including a spa, sauna, games room, pool bar and gym. Ground-floor apartments have private gardens, first floor apartments have large terraces and the penthouse apartments boast spacious roof terraces and a rooftop solarium. Apartments are on average 70m² with a 27m² covered terrace, 14m² covered access and gardens range from 42-254m² depending on land available. The interiors are designed to a high specification, with marble floors in the hall, living room and bathroom, a fully-fitted kitchen, hot/cold air conditioning and a satellite dish.

Prices start at 144,000 euros for a ground floor apartment with mountain views and rise to 239,000 for a top floor seaview apartment. The average cost per square metre is 1,500 euros. This is expected to rise to 2,500 per square metre in the next couple of years as demand for holiday homes in this area grows rapidly. Reservations can be made with a 6,000 euro deposit followed by 30% of the sale price - a lower figure than other Ayamonte developments. The property can be sold at any point during construction, which is due for completion in September 2007.

Beaches in this area are Atlantic-style - with long, fine golden sands backed by sand dunes and pine trees. There are 14 such beaches between Ayamonte and Huelva to the east. Among them, Isla Canela - an island separated from Ayamonte by a river - is a popular spot with beach volleyball and windsurf facilities and Punta Moral is famous for its striking dunes. Water sports enthusiasts can also find plenty of activity at the several local marinas.

Golfers are in paradise here as they have the best of the crop in two countries to choose from. The Portuguese Algarve's top courses - Quinta da Lago, Royal, Ocean and Villamoura - are a 30 minute drive away, while on the Spanish side some of the prettiest courses in Andalucia are to be found here, including El Rompido, Nuevo Portil and Islantilla. Two 18-hole courses are also in construction in Costa Esuri itself.