Article

Article by: Nick Ball nick@lanzaroteguidebook.com Published: 07/05/2008

Increased tourist numbers are helping to keep the Lanzarote property market afloat.

Concerns that the weakening pound and plummeting disposable incomes in the UK might adversely affect tourism and the market for property in Lanzarote appear to have proved unfounded.

As statistics just released by the island government and airport operators AENA reveal an impressive 8.7% upsurge in British visitor numbers to the island during the first quarter of 2008.

The figures are highly significant – as the UK is Lanzarote´s most important market place. Accounting for some 850,000 tourist visits during 2007 alone.

As well as the bulk of overseas property investment demand. And this increase in visitor numbers has also arisen during what are traditionally some of the quietest months of the year in the holiday rental calendar.

Although these figures can partly be attributed to Easter falling early in March this year that still belies the fact that tourism from the UK had already increased by 16.7% during January and February.

Either way – owners of holiday rental properties on the island are obviously delighted. Not least because private villas and apartments have been amongst the main beneficiaries of this increase in business – according to ASOLAN – Lanzarioe´s hoteliers association - who recorded occupancy levels of 84.19% for the self catering accommodation sector during January and February.

Property investment often follows on the back of a successful tourist industry. And the picture is no different in Lanzarote – where many apartments and villas are owned by overseas investors – the bulk of them from Britain and Ireland.

As a result Lanzarote Guidebook – the islands largest dedicated property portal – has reported a sharp increase in interest in real estate enquiries - up by 19% versus the first quarter of 2007 - with over 1000 leads received across January, February and March 2008.

A detailed analysis of these enquiries reveals that overseas investors are still cautious though. As the vast majority of interest has been centred on studios and apartments priced below €150,000 – whilst higher priced villa properties, especially in rural areas – currently have little appeal.

 

External Article Link: http://www.property-partnership.com/overseas-property-guides/overseas-property-guide.cfm?id=133

Article Link: http://www.property-partnership.com/overseas-property-guides/overseas-property-guide.cfm?id=133

Please contact the author at nick@lanzaroteguidebook.com for more information.