Despite the economic firestorms plaguing Europe and the wider world the fundamental factors that make Lanzarote a solid investment prospect for overseas buyers remain firmly in place.
Buoyant, Year Round Tourism
Since the onset of the crisis, as it is referred to in Spain, visitor numbers on Lanzarote have in fact increased. Reflecting the fact that the island offers good value for holidaymakers, as well as plenty of luxury options for the five star traveler.
Of the 2 million tourists that the island attracts each year about 50% are English speaking and fly into Lanzarote from the UK and Eire. So there is enormous scope for anyone seeking to buy an investment property in Lanzarote that can then be rented out to holidaymakers.
The island’s climate also plays an obvious and fundamental role here, as unlike any other part of mainland Europe the Canaries bask in warm sunshine all year round. Which means that the holiday rental season runs for 12 months too – creating year round rental returns.
The Canaries have just enjoyed one of their hottest summers in 50 years, so despite global warming and malfunctioning jet streams impacting the weather in other countries here the climate remains as reliable as ever.
To experience these sort of temperatures during the winter months UK based tourists would have to head for either the Middle East, Far East or the Caribbean and Latin America – all of which take much longer to reach than Lanzarote.
Flights to the Canaries take just four hours – and equally important in these value conscious times the price of return fares are much lower than for any of these other destinations. Lanzarote is served by all of the main low cost carriers and as a result it is usually possible to pick up returns for as little as £200 – which wouldn’t even get you half of the way to further flung options.
These two factors make Lanzarote much more accessible than any other winter sun destination, both in terms of flying time and price.
Beyond The Beach
First time visitors are always amazed to find that Lanzarote is much more than just a bucket and spade beach destination. The island was cruelly and inaccurately labeled Lanza-grotty by Monty Pythons’ Michael Palin during the 1970’s and as a result became synonymous with the worst excesses of package tourism.
But in truth the island was never much of a draw for the Club 18-30 crowd, as it remained unspoilt and peaceful – with no high rise buildings blotting the landscape. And has always attracted a more mature and sophisticated type of tourist, thanks in no small part to the fact that it is home to amazing natural wonders such as the Timanfaya National Park and the incredible creations of the local artist César Manrique.
Indeed whilst many Brits labored on with their misconceptions Lanzarote was busy being awarded UNESCO biosphere status – the first island in the world to achieve this. And is increasingly being cited as a model for sustainable tourism the world over.
No wonder then that so many visitors chose to buy a property here or even relocated here full time. Some 30% of the islands population was born outside of Spain.