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19/04/2008 by Nick Lanzarote Guidebook.
British tourism up 16.7% during January/February 2008
Overseas investors with interests in the Lanzarote property market will have been warmed by the release of the latest tourist figures for the island. Which reveal an upsurge 16.7% in British visitor numbers for the first two months of 2008. According to statistics just released by Spanish airport operator AENA.
The figures for January and February represent the first reversal of a downward trend in visitor numbers from the
Many observers feared that the current credit crunch and resulting tightening of the consumer purse strings might have a negative impact upon both tourism and the property market on the island.
However, these fears have proved unfounded – and suggest that, conversely, Lanzarote might even benefit. As hard-pressed consumers eschew more expensive and exotic locations in favour of better value holiday options closer to home.
Certainly, owners of holiday rental apartments in Lanzarote aren’t complaining.
As, according to ASOLAN, the islands hoteliers association, occupancy levels rose 7% across all accommodation categories. With self-catering apartments in particular performing exceptionally well - recording occupancy of 84.19% during January and February. Which normally are amongst the quietest periods in the holiday rental calendar.
Island based holiday companies, such as White Beach Holidays and Lanzarote1 are also reporting a bumper start to the year. With forward bookings also showing double-digit growth to date on 2007 figures.
And it’s not just the British who are flocking to the island. As overall foreign visitor numbers are up by nearly 11%. With Lanzarote enjoying a particular resurgence of popularity in the Scandinavian market place – traditionally a source of decent visitor numbers back in the 1980´s, when tourism first really took off. During January and February visitor numbers from
Where tourism leads, property investment tends to follow. And as previously reported by leading island property portal, Lanzarote Guidebook, demand for entry-level investments on Lanzarote – in the form of studios and apartments - remains buoyant.
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29/03/2008 by Martin Sargent.
Natura Design. Since the end of last year the Euro has reached some record highs
against the Pound Sterling and the US Dollar. Inevitably the Lanzarote property market has been affected. On
December 19 2007, the GBP was worth almost Euro 1.40. Three months
later, it has gone down to Euro 1.28. This is a real reduction of 9.4%,
which means simply that property in Lanzarote and other Uropean countries has
become 9.4% more expensive for the British buyer.
But now selling a property in Lanzarote and sending the money back to
the UK as sterling you would have
gained 9.4% in extra profit. The smart investors who bought in Lanzarote
have another reason to be happy with their investment. The
Euro could be overtaking the dollar as the world’s major currency and
become stronger in the future.
Lanzarote property prices have become stable and in some cases have decreased. As a
result, the Lanzarote Property Market is more realistic to the foreign
investor, leaving room for growth & capital appreciation in the
future. Lanzarote property continues to be a good investment and a real
possibility for people who long to relocate to the warmer climate and for a different lifestyle.
By Natura Design
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05/03/2008 by Martin Sargent.
Demand amongst overseas investors for residential and commercial property in Puerto del Carmen is currently driving the Lanzarote Property market. According to an analysis of 636 property for sale enquiries received by Lanzarote´s busiest property portal, Lanzarote Guidebook , during the first two months of 2008.
Property Hotspots
Where are the current property hotspots for overseas investors on Lanzarote?
According to this detailed analysis of British and Irish property investment requirements Lanzarote´s oldest resort – Puerto del Carmen – is currently top of the props. Accounting for 43% of all property enquiries received during January and February 2008. With Costa Teguise recording 30% and Playa Blanca trailing in third place with 19%. However, Playa Blanca remains the most popular spot on the island for anyone searching for a villa investment –generating five times more demand than closest resort rival Costa Teguise.
Costa Teguise just pips Puerto del Carmen for apartment enquiries. Whilst Puerto del Carmen leads the way for commercial property – accounting for 64% of all demand. So reflecting the resorts position as the epicentre for expat enterprise on the island.
What types of property in Lanzarote are currently in demand with overseas investors?
Apartments currently lead the field – attracting over three times as much interest as villas. Suggesting that recent changes in market conditions and consumer confidence are stifling demand for the more expensive properties currently on the market. Whilst investors instead turn to lower cost options.
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14/09/2007 by Martin Sargent.
Puerto del Carmen has long been the engine room of tourism on Lanzarote. Once known locally as Tiñosa, this popular resort really took off in the 1980´s – initially in and around the old harbour fishing area – which is still a focal point of the resort today. And has been attracting higher visitor numbers than resort rivals Costa Teguise to the North and Playa Blanca to the south ever since.
Where tourism leads, property development tends to follow. And as a result demand for property for sale in Puerto del Carmen over the last decade has remained consistently strong. Not least as property owners are able to rent their apartments out for twelve months of the year thanks to Lanzarote´s year round clement climate.
The majority of holiday accommodation in Puerto del Carmen is comprised of self-catering apartments. Offering fairly basic one or two star amenities. So enabling tour operators such as First Choice and Airtours to offer very cheap package holidays to Lanzarote.
All-inclusive package deals have become quite pervasive – an arrangement which is much maligned by local businesses such as bars and restaurants. As many tourists now rarely venture out from their accommodation as all of their needs are catered to on site. However this pattern of development has become increasingly at odds with the strategy of the island tourist authorities, who are keen to modernize the resort and take Puerto del Carmen up market.
Central to this strategy is the pedestrianisation of the main Avenida del las Playas – which runs alongside the resorts main beaches and which is currently
According to a recent announcement from the Director General for Tourist Infrastructures on Lanzarote the pedestrianisation of the main sea front promenade in Puerto del Carmen will be going ahead in 2008,
The project to pave the main Avenida de las Playas has been mooted for some time and is felt by many local observers to present a real opportunity to improve the quality of the infrastructure and tourist offering in Lanzarote´s most popular resort.
€855,000.00 has been earmarked for the project and the official intention is to close the Avenida to traffic at the end of 2007. With work scheduled for completion before the summer season of 2008.
The pedestrianisation of Puerto del Carmen is part of a broader plan to “reinvent” tourism in the resort – according to the mayor of the local municipality of Tias. By improving both the infrastructure of the resort and the standard of accommodations offered by apartment complexes.
With the overall aim of ensuring that Puerto del Carmen is able to compete on a more equal footing with other popular tourist destinations across Europe.
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24/08/2007 by Nick Lanzarote Guidebook.
Lanzarote´s popularity as an overseas property investment hot spot shows little sign of abating. Despite the recent downturn in the UK property market and the upsurge in interest rates.
Lanzarote Investment property still attracts a great deal of interest from both UK and Irish based buyers. Thanks largely to the islands on-going popularity as a year round holiday destination. Attracting over one million British and Irish visitors alone in 2006.
Where tourism leads, property investment tends to follow. As these sorts of visitor numbers provide a ready-made market, twelve months of the year. Which cannot be said for other mainland Spanish holiday destinations or emerging markets such as Eastern Europe.
The returns for overseas investors are also more appealing. As Lanzarote Holiday Villas command excellent rental returns. So enabling most owners to more than cover their mortgage costs whilst also enjoying a pretty healthy additional income.
Capital growth is also running at around 9% currently on Lanzarote. Which means overseas investors will also enjoy a significant rise in the value of their property over time.
Unsurprisingly, the main resorts attract the most interest from overseas investors.
With Playa Blanca often offering excellent value for money for those seeking a basic villa with pool, whilst Puerto del Carmen is geared more towards studios and apartments.
Property prices across the island are still low in relation to other parts of Spain – so some leading industry observers such as Mark Stucklin of the Sunday Times still feel that Lanzarote offers plenty of room for price growth.
The market here is also fuelled by a growing expatriate community. With sun starved Northern Europeans now making up an estimated 10% of the islands overall population. And emigration from the UK looks set to keep rising – as more and more Brits head for the sun in search of a better quality of life.
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10/08/2007 by Martin Sargent.
A good place to search for property for sale in Lanzarote is a website called Lanzarote Guidebook - as they have a selection of over 1400 villas and apartments for sale.
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19/06/2007 by Martin Sargent.
Trade Fair Tenerife.
Construye (build) is the name of the exhibition which last year saw 18,132 visitors and 162 stands.
Equipment, tools, builders, plumbers, anything and everything to do with the building trade.
Open between 11 am and 9 pm until Sunday 7th November.
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12/06/2007 by Martin Sargent.
LESS TAX ON GAINS IN SPAIN
Spanish Government halves Capital Gains Tax for foreign investors
As the amount of tax being levied on property sales for non-residents is about to be cut in half.
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