Fuerteventura Property Market and Real Estate Guide
(Fuerteventura, Canary Islands, Spain)
Fuerteventura has some of the best beach real estate in the Canary Islands, offering a mix of resort development and remote villages. The island may be best known for its inviting beaches, but it also has an intriguing interior landscape characterised by volcanic rock, palm trees and sand dunes.
Within the Canaries, Fuerteventura is second to Tenerife
in terms of size. There is plenty of room for expansion here, with most of the resort development and vacation properties in Corralejo, El Cotillo and Caleta de Fuste.
The fact that Fuerteventura still has plenty of room to grow bodes well for property owners and investors. Development is ongoing in major communities as demand continues to increase. Better yet, the cost of maintaining property in Fuerteventura is relatively low, making this one of the most affordable places to own property in Spain.
Renting Serviced Apartments
The resort communities of Caleta de Fuste, Jandia and Corralejo have an extensive range of serviced apartments on order. These offer all of the resort amenities expected from a destination of this caliber, including fully furnished luxury mid-sized flats and modern studios.
Generally, serviced apartments are priced similarly to comparable hotels over short-term periods, though they may provide better value in some cases. These units become much more competitive over medium to long-term stays. Long-term tenants may be asked to pay a deposit, which will be returned when they move out.
Buying Apartments and Houses
Most new property sold is in Caleta de Fuste, where studio apartments and luxury beach homes continue to be built around the city's two golf courses. Taxes and legal costs typically equal 10 percent of the purchase cost. This includes a transfer tax (6.5 percent) plus registration fees, value-added tax and lawyer fees.
Prices are competitive by European standards. Buyers will need a NIF tax-identification number (arranged by a lawyer) in order to purchase property. Further, foreign buyers may encounter sellers who want a portion of the sale price paid off the record in order to evade paying taxes on it. It's worth noting that this sets buyers up for disproportionate capital gains (and accompanying taxes) if they sell the property in the future.
Real Estate Agents
Finding a trustworthy real estate agent (most of whom have an online presence) in Fuerteventura is imperative, especially in light of the slippery slope that paying 'black money' presents. This extra layer of protection is essential for foreign buyers. Choosing an agent that speaks English is especially important as there's no room for ambiguity or miscommunication here.
Check out the following Fuerteventura real estate agents:
Address: Calle Alcaravan 1, La Oliva, Fuerteventura, 35640, Canary Islands, Spain
Tel: +34 928 868 839
Bliss Properties is a major real estate contender on the island, offering vacation properties as well as vacant land.
Fuerteventura Property World
Address: Calle Almirante Nelson 5, Corralejo, Fuerteventura, 35660, Canary Islands, Spain
Tel: +34 928 867 989
Fuerteventura Property World is a British-run company with an extensive portfolio of Fuerteventura properties.
Millenium Property World
Address: Local 4, Hotel Elba, Calle Franchy Roca, Caleta de Fuste, Fuerteventura, 35610, Canary Islands, Spain
Tel: +34 928 160 117
Millenium Property World is a professional estate agency with connections to excellent lawyers and an extensive list of island properties.