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It may well be a Spanish island. But Lanzarote lies just 70 miles off the coast of Africa. And sits on the same line of latitude as Florida and parts of Mexico. Creating a temperate year round climate that makes this little speck of Spain a perennial favourite with British property investors. Who are able to generate year round rental returns from their holiday properties here.
Lanzarote is just four hours flying time from the UK. And this twelve month clement climate – with temperatures rarely falling below 70c - makes the island one of Europe´s only genuine winter sun destinations.
It has long been a favourite with British holiday makers – attracting just over 850,000 visitors from the UK (Lanzarote´s biggest overseas market) in 2007 alone. But the island is worlds away from the sort of beer and chips image often associated with other Spanish sunspots. As Lanzarote also attracts a cosmopolitan mix from other countries – and is hugely popular with German, Scandinavian and Dutch tourists too.
Not to mention the Spanish – many of whom flock to the Canaries in high summer to escape the over bearing heat of the mainland.
And 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 a huge amount 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.
Add a decent sprinkling of eye catching architecture and unique tourist attractions – courtesy of the island born artist Cesar Manrique – and you have an island that simply oozes appeal.
As a result, over 5000 Brits have made the island their permanent home. And many thousands more own property in Lanzarote – usually in the form of holiday apartments and villas.
Lanzarote Property Market
Prices on the island are still below those of comparable destinations in Southern Spain or even the larger Canary Islands such as Tenerife. Which has led some expert observers to suggest that there is still plenty of scope for capital appreciation.
Either way – property here is still cheap by UK standards. Whilst securing a mortgage is now considerably easier than back in Britain – with lower interest rates to boot. With a basic one bedroom apartment in one of the three main resorts starting from around €80,000. Whilst villas – with private pools – are available from around €260,000 upwards.
Property Hot Spots
Puerto del Carmen is Lanzarote´s oldest resort – and still the most popular. Making it the safest bet for holiday apartment investments. The resort is also about to undergo a serious refurbishment – with work underway on the pedestrianisation of the main seafront road – the 6km long Avenida de las Playas. And a new golf course opening this summer.
The best micro-climate on the island can be found in the South – home to the newest resort of Playa Blanca. Which was specifically developed with luxury villas and hotels as the main focus of the resort. As a result there’s a wide selection of competitively priced and purpose built property available – most offering fantastic views, heated pools and all mod cons – from around €280,000 upwards.
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