Why have so many British based buyers snapped up a Lanzarote property over the last decade? There are a number of reasons why this small Canary Island remains such a hot favourite with overseas buyers. And key to this is the fact that Lanzarote enjoys great weather all year round – making it possible to enjoy rental returns for twelve months of the year here too.
Lanzarote is located close to the coast of West Africa and as a result is bathed in sunshine all year round – even during December and January. The island is also just a four hour flight from the UK – it´s main tourist market – making it the closest genuine winter sun destination for British tourists. With all other options such as Egypt requiring at least a further hours journey.
Lanzarote has been a very popular tourist destination since the 1970´s as a result – attracting close to 1.4 million visitors last year even in the depths of the economic crisis. This buoyant tourist market helps to drive demand for self catering accommodation on the island, such as Lanzarote villas and apartments. Creating a reliable income stream for the owners of these types of property.
Now that the worst of the economic crisis appears to be over the island is also starting to see an increase in tourist visitors. With foreign arrivals up by 5% during the first half of 2010. After falling away by about 18% during the course of last year. In part this recovery has been aided by the fact that there are now more low cost flights to Lanzarote available than ever before. Thanks in no small part to the fact that Ryanair started operating services to the island during the last quarter of 2009.
There are plenty of good locations for prospective property buyers to search. Puerto del Carmen is the largest and oldest resort on the island and therefore the most logical location to purchase a villa or apartment. As a steady stream of tourist guests are always guaranteed here. Playa Blanca in the south of the island is also very popular – not least as properties for sale here are a little cheaper than in Puerto del Carmen, thanks to a building boom during the 1990´s. Whilst other resorts such as Costa Teguise also offer plenty of rental potential – especially for beachfront properties.
