Why invest in an overseas property? With world stock markets in turmoil and interest rates at a record all time low this remains one of the few ways to generate some income from your capital. So many canny investors in search of a safe haven for their money are now looking at buying holiday rental properties abroad, in locations such as Spain and the Canary Islands, which are hugely popular with holidaymakers.
The Canaries are in fact that 2nd most visited part of Spain after Catalonia and are bathed in sunshine all year round. Making them ideal as both a winter or summer sun destination. There are seven islands in the chain and Lanzarote is the fourth largest, boasting a loyal army of British tourists, many of whom return year after year.
As a result the Lanzarote property market remains reasonably buoyant too, with many visitors deciding to buy villas or apartments. Most of these sales are on properties within the main holiday resorts, but rural tourism is also blossoming and outlying areas also offer a nice niche for the more intrepid investor. With areas such as Haria and Arietta in the north particularly popular.
First time buyers though should stick with the tried and tested main resorts, such as Puerto del Carmen. Which is located in the centre of the island on the south eastern coastline. Tourists have been flocking here for decades and as a result the resort is really well established. Making it much easier to rent out a holiday property here. Playa Blanca is another spot worth considering as it´s tourist market is booming too. With thousands of tourists eager to book villas and apartments in this fast growing town.
Costa Teguise is the third largest resort and is located in the north, about 20 minutes from the airport in Arrecife. This is Lanzarote´s sole purpose built resort, reflected in the fact that Costa Teguise seems to lack on organic heart or centre. But it remains popular enough nevertheless, making property in Costa Teguise a reliable investment option.
There are plenty of estate agents in Lanzarote to help you make the right decisions when you are conducting your property search. Try to choose an agent who has been operating on the island for a long time and who has a fixed office, rather than anyone passing themselves off as a property broker or similar.