Puerto del Carmen is the largest resort on Lanzarote. It first started life as a small fishing port called La Tinosa but as tourism took off under Franco in the early 1970´s both its name and infrastructure evolved into the entity it is today. Establishing Puerto del Carmen as the powerhouse of the property market on Lanzarote.
The resort attracts more visitors than rivals Playa Blanca and Costa Teguise to the south and north respectively and has become a real magnet for expats planning to relocate or foreign buyers looking to invest in a holiday rental property and as a result prices here didn´t dip as profoundly as elsewhere on the island.
Now, thanks to low interest rates in the UK and the Euro zone and the strength of the pound versus the euro British investors are returning the market in numbers, keen to take advantage of the resorts buoyant tourist market.
Prices for basic studios and apartments in the resort start from around 70,000, but anyone planning to invest in a holiday rental property would also be well advised to look at larger villa properties such as villas should budget allow, as proportionately these offer a far better return on investment.
From around 250,000 Euros upwards buyers can start to bag properties which can be rented out all year round to families and groups of friends, charging them upwards of 700 sterling per week. And for those who are really in the know, specific areas such as Los Mojones and Los Pocillos can provide even more lucrative rental returns.
For example this detached villa in Los Pocillos on at 312,000 euros boasts three bedrooms and two bathrooms along with private pool and would make an absolutely ideal holiday home. Whilst this four bedroom villa in Puerto del Carmen, on at 319,000, offers a bargain priced entry level into the high end rentals market. It requires some refurbishment which is reflected in the price but nonetheless boasts an indoor pool as well as a separate guest apartment.