Investors Still Flock To Canaries
The Lanzarote property market shows little sign of cooling. As despite the credit crunch and the weakening pound the holiday rental market on the island remains buoyant. With British visitor numbers up nearly 17% for the first two months of this year. So buttressing demand for property for sale in property for sale in Lanzarote.
The appeal of Lanzarote to overseas investors isn’t so hard to discern. As this small speck of Spain lies just 79 miles off the coast of Africa. On the same line of longitude as Florida and parts of Mexico. So creating a highly clement year round climate that is often likened to that of an Eternal Spring.
In truth though the weather can get a whole lot hotter than that. And unlike some sunshine destinations there is no climatic downside to contend with – such as hurricanes or rainy seasons. With rainfall on the island incredibly low.
As a result these conditions create the ideal environment for anyone who enjoys an outdoor lifestyle. And the island is blessed with a great deal of natural beauty - so creating a breathtaking backdrop for all manner of activities and pursuits.
Unlike other Spanish sunspots Lanzarote also remains largely unspoiled. There are no high rise buildings or advertising hoardings to spoil the view. The three main tourist resorts have all been carefully contained. And all of the houses on the island have been painted white – creating an aesthetic harmony that provides a stunning contrast with the black volcanic picon and brightly coloured flowers that are universally employed in gardens across the island.
So where should property investors be looking on the island for that ideal investment?
There are two main strategic routes available. The most popular avenue is that of buying a studio or apartment in one of the main resorts of Puerto del Carmen, Costa Teguise or Playa Blanca.
These types of units usually form part of a bigger complex – so providing amenities such as a communal swimming pool, pool bar and shopping facilities on site. Making them ideal for tourists looking for a cheap and cheerful Canary Island holiday.
Prices remain reasonable – with studio apartments available in all resorts from as little as €75,000. Which yield rentals of £200 per week upwards.
The other main investment option requires a bigger budget – but commensurately provides much more attractive returns. Villa holidays are hugely popular on Lanzarote – and newer resorts such as Playa Blanca in the south of the island have been developed specifically to accommodate upmarket villas over apartment complexes.
Private villas with pools can still be snapped up from €250,000. With good quality villas renting out from a minimum of £500 per week.
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