Lanzarote Property Market and Real Estate Guide

(Lanzarote, Canary Islands, Spain)

View of the Lanzarote MountainsThe ever-popular Spanish archipelago known as the Canary Islands is home to many attractive places to visit, and Lanzarote is no exception. The island is mainly considered a holiday destination and many of the property purchases on the island are as second homes or holiday villas.

Its beautiful coastline is a major draw, but property for rent and sale with beach frontage or sea views in the likes of Puerto del Carmen, Costa Teguise and Playa Blanca is among the island's most expensive. Buying in Arrecife, the capital, and other main towns is also costly, although great deals can be found inland in quiet, non touristy areas.

Property for rent and purchase in the capital of Arrecife is booming, with many new buildings appearing all the time. These vary from houses with swimming pools to rented serviced apartments, sometimes with small gardens. Rental prices are decent in comparison to other Spanish island destinations, as are sales prices.

Renting Serviced Apartments

Serviced apartments for rent are rife in Lanzarote as the majority of foreigners here are visiting on vacation. Main resort towns such as Arrecife, Playa Blanca and Costa Teguise are home to a good variety, with many modern developments available. Apartments are usually fully furnished with modern amenities, such as cleaning services.

Monthly rentals are commonplace, as are seasonal rentals, and during the peak season, renters can expect to pay around double of winter rates. A minimum of a one-month deposit is required, and apartments with swimming pools, gardens and gymnasiums demand higher costs than larger apartments out of town without such amenities.

Buying Apartments and Houses

There is a wide choice of property available in Lanzarote, from million dollar mansions through to one-bedroom apartments, and it is vital you use a licensed estate agent, since the market here is full of foreign buyers, with no restrictions on foreign purchase of property, and is vulnerable to scammers.

When you purchase property in Lanzarote you are eligible to take on any existing debts, so visit the local Property Register to check the property's history. Approximately 10 percent of the purchase price will go on taxes, legal fees and registration, and purchasers can expect to part with around 20 percent of the asking price as a deposit.

Real Estate Agents

Using an estate agent in Lanzarote is the best way to complete a legitimate deal. The majority of companies have staff that speak good English, as well as other languages, and they can be found in all of the large towns.

Check out the following Lanzarote real estate agents:

Freedom Properties
Address: Puerto Chico Recepcion, Avenida Canarias, Playa Blanca, Yaiza, Lanzarote, Canary Islands, Spain
Tel: +34 928 518 279
This agency specialises in the Playa Blanca area and has built a reliable reputation since starting operations in 2000.

Real Estate Lanzarote
Address: Calle Teide 22, Puerto del Carmen, Tias, Lanzarote, Canary Islands, Spain
Tel: +34 928 511 298
Real Estate Lanzarote is run by British management and deals with rentals and sales all over the island.

Location Lanzarote
Address: Calle Los Geranios, CC Lanzarote Bay, Local 1, Costa Teguise, Lanzarote, Canary Islands, Spain
Tel: +34 928 827 257
One of the longest running property businesses on the island, Location Properties boasts English speaking staff and a huge portfolio of properties for sale and rent.