Spain: Lanzarote

Overview

Lanzarote with a population of 116,800 is the fourth-largest Canary island covering an area of 813km2 (314mi2). Arrecife, the island’s capital and main port, is a rundown, unattractive modern town. The old capital of Teguise 11km (7mi) inland is more interesting and there are also a number of unspoilt inland villages. The island has a unique character and is noted for its whitewashed houses with bright green doors and shutters, profusion of exotic flowers, vineyards, palm trees, camels and fine white beaches (some say that Playa Famara is the best beach in the Canaries). Lanzarote is famous for its spectacular Fire Mountains and their lunar landscapes, stark volcanic rocks and over 300 extinct volcanoes, which form the Timanfaya National Park (covering around a third of the island). Unlike Tenerife and Gran Canaria, Lanzarote isn’t overdeveloped, although it has grown hugely in popularity in the last decade and there are a number of massive new coastal developments (timeshare developments abound). Locals are now, however, strongly opposed to new developments and the island’s authorities have introduced strict planning regulations. The island’s resorts are mostly located in the east of the island and include Arrecife, the Costa Teguise and Playa de los Pocillos, while new developments include El Puerto del Carmen and Playa Blanca (on the southern coast).

The property market is presently booming in Lanzarote and property here is considered a good investment, particularly as it’s likely that construction will be severely limited in the future leading to a shortage of resale properties. A two-bedroom apartment in a resort area costs from €120,000 and a small three-bedroom villa from €300,000.

Lanzarote has good communications and there are year-round flights from its airport (one of Spain’s busiest) to several UK destinations. Frequent ferries connect the island with the other Canary islands.

© Survival Books Limited 2005

“Buying a Home in Spain 2006” 5th Edition, David Hampshire.

Reproduced with the permission of Survival Books Limited.

Further information on this topic can be found in “Buying a Home in Spain 2006” 5th edition, by David Hampshire.

For extensive, annually updated information about buying a property in Spain, you can purchase this book at www.survivalbooks.net