Property development on the Mediterranean is under way again, after a short pause for recession. Next spring, Villa Isabella is to open on the island of Ischia, Italy, close to Capri and Procida.

The property is being turned into ocean-front apartments, set above the hotel and spa L’Albergo della Regina Isabella.

All seven apartments will have views of the Med and owners will have access to the facilities of the hotel.

Whole ownership costs from 2.7 million to 3.5 million euros (about £2.4 million to £3.1 million). Included is VIP access to Ischia’s annual international film festival, hosted and part-funded by the hotel. The island’s association with the film industry dates from the 1950s, when the movie and publishing icon Angelo Rizzoli built L’Albergo; Visitors included Richard Burton, Liz Taylor, Charlie Chaplin, Clark Gable and William Holden. The island has featured in films such as Cleopatra and The Talented Mr Ripley and more recent visitors included Clare Danes, Val Kilmer, Hillary Swank and Matt Damon.

Called the “green island”, Ischia has lush trees, shrubs, wild flowers and vineyards. The tropical gardens of La Mortella, the estate of late British composer Sir William Walton, opened to the public in 1991.