Puerto del Carmen Drives Lanzarote Property Market

Published on 08/04/2008 in Investing in Spanish Property

LanzaroteDemand 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.  Reflecting the fact that Lanzarote´s newest resort boasts many more better value villa properties than any other location
on the island.

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.

Ideal Homes
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 risk and lower cost options.

One-bedroom apartments were the most sought after type of property, accounting for 44% of all enquiries, followed by two bedroom apartments (35%) and studios (13%).
       

Property Prices
How much money are overseas investors planning to spend?

The conclusion that caution currently dominates the market is supported by the fact that 83% of all enquiries were for properties priced €300,000 or below.   With properties priced below €150,000 attracting 43% of all enquiries.

Demand falls as price rises – with properties priced in the €300,000 to €500,000 bracket accounting for 10% of all enquires.  Whilst properties priced above the €500,000 mark were of interest to just 3% of all overseas investors.

Written by: Nick Ball

About the author:Lanzarote Guide Book

Nick Ball is editor of Lanzarote Guidebook – the in depth Lanzarote tourist information website




Right arrow icon Send to friends   Right arrow icon Printer friendly version    Right arrow icon Submit your own article


Comments:

Nick Edwards said:
12 July 2012 @ 16:36

Hi , I'm looking for a investor in a business I'm hoping to do I'm looking for € 40.000 and in return 40% off the business . The business will be a pound shop ( 1 euro land  ) here in Lanzarote it will be similar to the massive brake out success in the u.k with 2 branches opening ever week with a massive profit  margin . All top brand products for only  1 euro everything from wash powder cleaning products, bathroom , d.I.y , electrical ect... These products will be brought in high volumes ( bulk) from a local source in the u.k . 

Can you help or maybe point me into the right direction of a investor maybe ? .I would be very much appreciated 
 
Many thanks Nick Edwards   

Phone 00447799828585 
Sent from my iPhone


Only registered users can comment on this article. Please Sign In or Register now.

Comment Using Facebook:




Related articles in this category

“Absolute Power Corrupts Absolutely”

A Recipe for Disaster

Buying In Spain - It's Never Been Better!

Buying Off-Plan Further Afield

Call for Regulation of Overseas Property Agents

Correcting the Spanish Property Market

Corruption is Drowning Spain

Guaranteed Rental Schemes are a Hot Favourite for Overseas Properties

Investment Builds Confidence in Spanish Property Sector

Investors – Why they always return to Spain

Kyero Spanish Property Price Guide

Lanzarote Property Hotspots

Lanzarote´s Property Hot Spots

Luxury Estate Agency bullish for 2016

My Tips for Buying Off Plan Property in Spain

Off Plan Opportunities in a Spanish Village

Polaris World Spain - A Review

Property in Murcia - A Wise Investment

Property Investment Advice - Property Investment Is About Making Money

Property Market Sentiment Falls while Developers Find Techniques to Stave off a Price Collapse

Puerto del Carmen Drives Lanzarote Property Market

Residential Property Investment in Spain: The Post Credit Crunch Hotspot?

Rising Visitor Numbers Drive Demand For Lanzarote Property

Smart Property Investors Go Inland for Capital Growth

Spain - The Emerging Market

Spain 2011, To Buy or Not to Buy? That Is the Question!

Spain Avoids Large-Scale Financial Bailout From EU

Spanish Developers, Their Debts, and How Not to Solve a Problem

Spanish Property Crisis - A Solution?

The Death of Spanish Property

The Rights Groups SL’s - Glossary of Property terms

TRG says “The Value of Your Shares May Fall and Fall and Fall.…..”

Turkey the Next Spain?

Valencia Gears Up To Be The Province Of Choice For Brits In 2008

Why Buy in Spain?

Why Choose Spain?

You Can Profit From Spain’s Distressed Property Market

Click here for a list of all the articles from our magazine 

Spain insurance services


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x