Despite the credit crunch and weakening pound Lanzarote´s popularity as a tourist destination shows no sign of abating. As visitor numbers from the UK
and Ireland just keep on rising – with the island expecting to welcome well over one million tourists from Britain and Eire alone during the course of 2008.
As a result holiday rental property in Lanzarote remains a sound investment.
Not least as owners can enjoy a twelve month rental calendar thanks to the island’s year round clement climate.
So how much does it cost to get a foot on the property ladder in Lanzarote? And where should overseas investors look for the ideal holiday rental property?
Playa Blanca
Playa Blanca has rapidly emerged as Lanzarote´s second most popular resort. Thanks to the high quality of its beaches, its proximity to the neighbouring island of Fuerteventura and the best micro climate on the island. A vital consideration for anyone planning to invest in an apartment or holiday villa in Lanzarote.
Freedom Properties specialise in property in Playa Blanca – and work hand in hand with their sister company White Beach Holidays. So they are ideally placed to advise investors seeking good quality holiday rental properties with guaranteed returns.
Such as the attractive one bedroom bungalows currently available with Freedom on the popular Jardin del Sol complex. Which start from as little as €130,000 (around £105,000 at current exchange rates).
Jardin del Sol is located close to the popular beach at Playa Flamingo and also boasts decent on site facilities such as an excellent communal pool. Both factors which contribute to making property here absolutely ideal for holiday rental.
Best of all, they come with an impressive track record – historically enjoying 40 weeks of occupancy per year and renting out from around £225 per week. Delivering a gross return of around £13,000 annually. A figure which could be optimised further with a small amount of modernisation – work that can also be undertaken by Freedom who offer a complete service from sales through to renovation and holiday property rental.
On Playa Flamingo itself Freedom are also currently marketing a rare two bed frontline property. Which commands even greater rental returns of £460 per week plus, thanks to its privileged position and excellent views down to the beach and across to Fuerteventura. The bungalow is fully furnished to a very high standard and is available, with forward bookings in place, for €450,000.
Puerto del Carmen
Puerto del Carmen is Lanzarote´s oldest and most popular resort. Making it a reliable base for any holiday rental investment – as demand for good quality property here is buoyant all year round.
The Los Mojones area of the resort is one of Puerto del Carmen´s most upmarket residential enclaves. And is popular with holiday makers – as the atmospheric Old Town harbour area is just a short walk away.
Experienced resort based agents Inversiones Timanfaya offer a wide selection of attractive investment properties across all price ranges. Many with proven rental track records. Such as Casa Gabriela – an impressive four bed, three bath villa that has been furnished and maintained to a very high standard.
The villa stands on a substantial plot of 1000 square metres in a quiet spot in Los Mojones and is ideally equipped for holiday rentals, boasting its own private heated pool, top quality fixtures and fittings and bags of space throughout.
Most importantly, Casa Gabriela also enjoys an excellent rental record – with forward bookings already confirmed for most of the remainder of 2008 and well into next year. Plus any new owners will also enjoy the backing of Lanzarote holiday rental specialists Lanzarote1 – who will be happy to market the property on their behalf.
Casa Gabriela commands a weekly rental rate of between £800 and £1290, depending on the time of year. And is on the market now for €599,000 (approximately £483,000 at current rates).
Written by
Nick Ball
Nick Ball is editor of Lanzarote Guidebook – the in depth Lanzarote tourist information website