There´s a great diversity of different types of property for sale in Lanzarote. And whilst overseas investors often tend to focus on resort based villas and apartments, traditional rural properties can also prove profitable. Especially those in need of renovation.
Demand for these more authentic dwellings is largely fuelled by epxats from across Europe – especially the British and Germans – who along with other Western European émigrés currently account for around 10% of the total island population.
Many have chosen to relocate to Lanzarote in order to achieve a more peaceful and less stressful lifestyle. Lured by the year round clement climate and the islands natural beauty. So creating a demand for properties with a bit of history and character in tranquil rural settings.
There is also a growing market for rural tourism in Lanzarote. With an increasing number of visitors now opting for a rural holiday villa – so that they too can enjoy a week or two in the country with no neighbours or noise. So investors can also target this market – especially if they ensure that their property comes with a pool.
And away from the main resorts, Lanzarote has a surprising abundance of these older buildings. Some of them dating back 300 years. The best examples of which conform to a traditional Canarian style of architecture – with rooms built around a central indoor patio that is left open to the elements.
Originally, the word finca used to refer to a farm, or plot of land in cultivation. But increasingly the word has come to describe pretty much any property with it´s own land in the countryside.
How Much Do They Cost?
With prices starting from around the £180,000 mark it is still possible to pick up an authentic property in Lanzarote with a lot of character far more cheaply than in other parts of Spain and Europe.
As with all property purchases on Lanzarote prospective buyers should also remember to factor in an additional 10% on top of these prices for the taxes and fees that are levied here. See our property buyers guide for more details.
Where should I buy?
Authentic fincas can be found all over the island – with a concentration in and around the old island capital of Teguise and surrounding villages such as Teseguite, Los Valles, El Mojon, Soo and Tao. A number of recently renovated fincas have also recently come onto the market in the north of the island, in and around Tinajo.
In the centre of the island the sprawling village of Macher, just above Puerto del Carmen, is home to a number of grand fincas. With prices often reflecting the proximity to the resort. Whilst in the South, Femes, Las Breñas and Yaiza are the main hunting grounds.
Featured Finca
The Finca pictured is currently on the market with Costa Teguise estate agent Location Lanzarote at €473,000 – which is currently around £330,000. It is in the small village of Teseguite – close to Teguise – and it ticks all the right boxes, as it is over two hundred years old, boasts loads of authentic features and is built around a great example of a traditional Canarian patio.
The accommodation is all on one floor and consists of an independent guest suite with lounge area, two mezzanine sleeping areas and a lovely bathroom. The guest suite opens to the Canarian patio and leads to the main house. That comprises of a large entrance hall with wood burner that opens on to two double bedrooms with built-in wardrobes and skylights, an enormous family bathroom with sunken bath, and up one step to the kitchen/dining room.
Beyond this is the large sitting room with a big working fireplace and a wood beamed cathedral ceiling, the sitting room also opens out onto the Canarian patio.
The house is entered through a heavy wooden door leading directly to the patio area with its different zones – dining area under cover; sunbathing area: lovely a sauna room with and an outdoor shower.
This enchanting and perfectly maintained finca has endless special features, including lots of beautiful and thick stone walls, working fireplace and wood burning stove, restored wood beams and more. It is on the water mains and also has its own water tank. The house measures 280m2. There is also a plot of 1000 square metres of garden at the back of the house. At present this plot is an orchard with mandarins, figs and grapefruit trees.
Lanzarote Estate Agents with Fincas For Sale
Location Lanzarote Costa Teguise
K2 Properties Puerto Calero
My Home In Lanzarote Puerto del Carmen
