What Property in Lanzarote is Hot ?

Despite the credit crunch and apparent downturn in general consumer confidence in the UK demand for Lanzarote property remains buoyant. According to figures recently released by the islands leading dedicated property portal, Lanzarote Guidebook.

A detailed analysis of 636 property for sale enquiries received during January and February 2008 revealed that overseas investors are still actively searching for Lanzarote property. And that apartment and studio properties were the main focus of interest. Accounting for 88% of all enquires received.

Suggesting that recent changes in market conditions have definitely stifled demand for the more expensive properties currently on the market. Whilst investors instead turn to lower-risk and lower-cost options.

This conclusion is further 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. Whilst anything priced above the €500,000 mark proved to be of interest to just 3% of all overseas investors.

The islands oldest resort – Puerto del Carmen – is currently driving the market.
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%. Reflecting the fact that Puerto del Carmen is currently enjoying a real boom in popularity with Irish investors. As the island has become the most popular tourist destination in Spain with residents of the Republic.

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. This is attributable to the fact that Lanzarote´s newest resort boasts many more better value villa properties than any other location on the island.