Where To Buy Property In Lanzarote
Where should I buy my property in Lanzarote? It´s a question we get asked a lot and whilst Lanzarote is a small island the old adage of location, location, location still remains key, especially for overseas buyers with limited knowledge, as a distance of just a few miles can mean the difference between buying a successful holiday rental property and an expensive white elephant.
Our guide to the island´s best property hot spots has been compiled by our own in house experts and is designed to give you some deeper inside knowledge about the best locations on Lanzarote.
The North of the island is widely regarded as the most traditional region of Lanzarote. Starting loosely in Tahiche and stretching to the northern port of Orzola, which connects Lanzarote with La Graciosa, it encompasses part of the Ayuntamiento of Teguise and all of the Ayuntamiento of Haria.
The north is much less densely populated than the rest of the island and there is little tourist development here – but that doesn´t mean that tourists don’t want to visit or stay in this region – as it is home to most of Lanzarote´s key visitor attractions as well as some of the island´s best beaches. It also attracts a lot of nature lovers as the scenery here is very unspoiled and is ideal for all types of activity based tourism such as walking and hiking holidays.
As a result the North attracts a lot of independent tourists (as opposed to package holiday makers), making it ideal for anyone thinking about setting up any type of rural tourist letting business. In particular properties in the immediate vicinity of the lovely beach at Arrieta and surrounding villages of Tabayasco and Punta Mujeres make ideal purchases – especially if they come with that all important sea view.
The picturesque village of Haria is also located here, some 250 metres above sea level, located on the floor of the Valley of 1000 Palms. This is one of the most beautiful spots on the island – but it doesn’t lend itself that well to holiday rentals as it is cooler as a result of its elevated position and sea views are very limited. It does however boast quite a few restaurants and shops and is a delightful community, making it better suited for relocation and retirement purposes.
For a real long shot buyers should take a look at La Graciosa, which is the neighbouring island to Lanzarote. Housing stock on this tiny island with a population of just 600 people is limited – but demand for rental accommodation is high, which spells decent rental returns for the canny investor. Properties here however don’t often come onto the market.
Property Hot Spots
Arrieta – ideal for holiday rentals
Haria – perfect for relocation or retirement
The centre of the island encompasses lots of very different villages and towns and stretches from Famara on the north west Coast down to the resort of Puerto del Carmen on the south eastern shoreline. So as a result it offers quite a wide variety of different opportunities.
Famara is Lanzarote´s main surfing destination – and the beach here is absolutely stunning and widely regarded as amongst the best in the Canaries. This picturesque location has a very strong appeal for independent tourists and there are already a number of holiday rental properties securing a good level of bookings all year round here. If you are planning a property purchase here then we would recommend buying in the bungalows known locally as The Norwegians – as these are located right on the beach, which is just ideal for holidaymakers. Alternatively take a look at the adjacent village of Caleta de Famara – but once again ensure you bag a sea view if you are planning to rent your property out to tourists.
The former island capital of Teguise is also located centrally – and this stunning and historic town is particularly seductive for first timers. However, its elevated position, cool climate and relative distance to the nearest beaches make it something of a red herring for anyone seeking a holiday rental property, as the town is better suited to relocation and retirement purposes.
Puerto del Carmen is the largest resort on Lanzarote and the first port of call for anyone thinking about buying a property for holiday rentals. Be careful where you buy though as there are moves afoot to ensure that the Old Town stays primarily residential, whilst more outlying parts of the resort such as Matagorda can offer less reliable rental returns.
A number of small satellite villages revolve around Puerto del Carmen, such as Macher and La Asomada. These are great spots for anyone seeking more authentic and expensive Canarian properties, which often change hands for excess of 1million euros plus. Outright millionaires and recent lottery winners might also want to take a look at Puerto Calero, the exclusive marina enclave located just along the coast from Puerto del Carmen.
Property Hot Spots
Puerto del Carmen – for reliable rental returns
Famara – for independent tourism
Teguise – for relocation/retirement
The South of the island encompasses much of Lanzarote´s famous volcanic region and as a result is drier, more arid and hotter than the North. Which of course makes it ideal for tourists who are solely seeking the sun – a factor which gave birth to the resort of Playa Blanca during the 1980´s and 90´s.
Playa Blanca is the best bet for anyone seeking reliable your round rental returns and properties here also tend to be a little cheaper than in Puerto del Carmen. However owners here face plenty of competition for bookings, so make sure that you are offering something extra. There are a number of distinct regions within the resort – most revolving around their respective beaches of Playa Dorada, Playa Flmaingo and the central small town beach of Playa Blanca. Concentrate your search here for the best returns and avoid more outlying areas which aren’t within walking distance of the beach.
There are three small villages in quite close proximity to Playa Blanca – Femes, Uga and Yaiza. Femes boats great views down to the coast and so straddles the twin stools of rural and coastal appeal. Whilst Uga and Yaiza both lend themselves well to rural tourism – and there are already a number of boutique rural hotels operating successfully in both of these villages.
Property Hot Spots
Playa Blanca –best for year round rental returns
Uga and Yaiza – best for independent tourists
Femes – great location for relocation!