Whilst property prices continue to falter in other parts of Spain the Canary
Islands managed to record growth of over 3% in the first quarter of this year, according to data recently released by Tinsa, the Iberian market evaluation specialists. Which is great news for anyone thinking about investing in the property market on Lanzarote.
According to Tinsa property prices on the mainland have fallen by 10% during the same period, but Lanzarote and the Canaries continue to buck this trend thanks to the fact that the islands remain a real hot spot for overseas investors.
This is largely due to the fact that they all bask in sunshine all year round – making them very attractive to anyone keen to enjoy 12 months worth of rental returns. Whilst the tourist market here is also very resilient – Lanzarote for example has not registered any real drop in visitor numbers since the crisis first hit back in 2008. Fuelled by the presence of low cost flights from large markets such as the UK and Germany.
So as a result the Canaries continue to perform well – along with the other Spanish island group of the Balearics, which has also enjoyed similar growth during the first three months of this year according to the Tinsa report. And this could be further accelerated should the Prime Ministers plans to offer residency to foreign buyers be extended.
Homes Lanzarote offer a large selection of properties for sale in all of the main resorts and towns on the island with prices starting from as little as €39,000 for a studio apartment in the ever popular resort of Puerto del Carmen. View more information about this property here. Whilst at the other end of the market investors looking for luxury villas can pick up a 6 bed property in one of the most desirable locations for a cool €2.3 million – view the property here.
Either way Lanzarote remains a remarkable island for both property investors and tourists alike. At its heart lies the awe inspiring volcanic region known as Timanfaya which was created by eruptions during the 18th century. This region has become the most popular attraction on the island (and indeed one of the most popular in Spain) and is just one of a number of natural wonders which visitors can enjoy. The island is also home to numerous cultural attractions, such as the Mirador del Rio and the Cactus Garden.