The tragic recent events in Tunisia and the on-going Greek Exit saga have both provided an indirect boost to the Lanzarote property market in recent weeks. As holidaymakers continue to desert both destinations whilst the pound continues to strengthen against the euro. So creating more demand for good quality rental villas and apartments on the island whilst also reducing the price of these properties to British buyers.
Continuing uncertainty over the Greek situation has resulted in stock market fluctuations around the world whilst also pushing the pound to a 12 month high against the euro, with sterling currently trading at around €1.40. Which means that property prices on Lanzarote have effectively dropped by some 20% for UK investors over the last year. At the same time demand for rental property on Lanzarote continues to rise, thanks to ever increasing visitor numbers which have also been partly fuelled by the deterioration of the security situation in most Middle East holiday hot spots.
As a result apartments are now available from as little as £50,000, such as this streamlined studio in the island’s main resort of Puerto del Carmen. It’s located on a complex in the popular Old Town area of the resort which boasts great sea views and two swimming pools, making it an ideal option for investors. A weekly holiday rental income of £250 to £300 is achievable with the right sort of marketing, offering an excellent return on investment.
At the other end of the scale investors can also now snap up luxury properties at more affordable prices, such as this stunning villa located in the luxury marina resort of Puerto Calero, which is now available for around £1.8 million. This property really does have it all, boasting an amazing pool area and stunning sea views and top end fixtures and fittings imported from Italy and Germany.
And there are also plenty of options away from the main resorts too for those keen to take advantage of the growing rural tourism market. La Asomada is an ideal location for anyone keen to invest as it offers all the peace and tranquility of a rural location, breathtaking sea views and close proximity to Puerto del Carmen and Puerto Calero too, both of which are just a five minute drive away. And here good quality country houses are now selling from as little as £250,000. Again, with the right marketing this type of rustic rural retreat could easily bring in up to £1,000 per week.