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.
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.