Holiday Property in Lanzarote
Lanzarote – the most easterly of the Canary Islands - has long been a favourite with overseas property investors. Thanks to an enviable location just 70 miles off the coast of Africa, so generating year round rental returns for the owners of apartments and holiday villas on the island.
Lanzarote´s temperate climate is often likened to an eternal Spring. And allied with the fact that flights to Lanzarote are a bearable four hours in duration from all major UK airports explains the islands enduring popularity with British holiday makers.
In recent years Lanzarote has also figured heavily in the travel schedule of many Irish tourists. Attracting over 280,000 visitors from Eire in 2007 – so establishing the island as the number one choice in Spain for visitors from the Republic.
Whilst Lanzarote boasts over 90 beautiful beaches – most of which are made up of golden grains, rather than the black sand found on many other Canary Islands –it has a whole lot more to offer than just bucket and spade beach tourism.
As the island boasts more than its fair share of natural beauty – from the raw, eerie landscapes of the Timanfaya Volcano park in the south – scene of the worlds longest ever volcanic eruption from 1730 to 1736. Through to the lush palm packed valleys in the North – such as the Valley of 1000 Palms.
Plus a decent sprinkling of unique man made attractions too – thanks to the work of the locally born artist and architect Cesar Manrique. Who oversaw the controlled development of tourism and created some truly unique attractions – such as the Jameos del Agua, an incredible underground grotto – and the Mirador del Rio. A stylish look out point providing breathtaking views across to the neighbouring island of La Graciosa – claimed by some to be the real setting for Robert Louis Stevenson’s children’s classic Treasure Island.
Lanzarote property prices are still well below those of comparable destinations in Southern Spain or even the larger Canary Islands. Leading some expert observers to suggest that there is still plenty of scope for capital appreciation in the future – despite the current economic climate.
A basic one bedroom apartment in one of the three main resorts starts from around €80,000. Whilst villas – with private pools – are available from around €260,000 upwards.
Whilst the credit crunch and falling economic confidence has obviously had some impact on the island’s property market there is still plenty of demand at the lower end. Which is being maintained by the fact that tourist numbers have been rising during the first half of 2008 – with British visitors up 8.7% in the first six months of this year.
