Lanzarote’s tourist industry is booming – visitor numbers to colorgreen this popular holiday destination soared by over 8% last year and that means that bookings for the owners of holiday rental properties are also on the up. With interest rates remaining at historic lows in the UK and Europe this means investors are returning to property once again in their droves – Wedding Dresses Shop and Lanzarote’s year round rental season offers excellent returns.
Over 2.1 million tourists visited Lanzarote during the course of 2013, according to the latest official data, a surge in total arrivals of 8% on last year. The UK market alone grew by 7.2% and accounted for some 40% of all passenger numbers with 959,212 holidaymakers departing from British airports. Add in over 200,000 tourists from Eire (a country that also saw arrivals rise by an even greater figure of 16.3%) and you have an English speaking target market of well over 1.1 million tourists – creating an enormous rental opportunity for owners of holiday villas and apartments on the island.
The basic maths are equally attractive – one bedroom apartments are still relatively cheap here thanks to price reductions in the Spanish property market over the last few years. Whilst sterling continues to gain in strength against the euro. So it´s possible to pick up a property such as this studio in Puerto del Carmen Old Town for as little as €87,000 – that´s just under £77,800. And this could then be rented out to holidaymakers for at least £150 per week upwards, or £600 a month, offering a very tidy return on investment.
That´s just one of a selection of very keenly priced apartments and studios that we currently have available on the market. Another fantastic buy is this recently refurbished studio, also located in the heart of the popular Old Town area in Puerto del Carmen. The property has been fully renovated and furnished to a very high standard and is ready to go for the rental market. It´s located on a complex with a private swimming pool and a tennis court and enjoys great views of the harbour area – all this could be yours for as little as €44,900 –or £38,000.
Investors with a bit more capital to play with can obviously parley this into greater returns. One excellent opportunity is the Barcarola complex, which is situated right on the frontline in the Avenida de las Playas in the New Town area of Puerto del Carmen and which is a really well maintained facility. We have units here available from €99,000 or around £82,000. And these command holiday rental rates of around £50 per night, or around £1400 per month assuming full occupancy.
So there are genuinely plenty of exciting investment options available for overseas investors – and as Lanzarote continues to grow in popularity with British and Irish tourists so do the potential returns on offer.